October 19th 2023

By Ailsa Colquhoun

'Remember, your dispensary is a business - not a charity'

PSUK gives useful profitability advice to 2023 DDA conference

Remember your dispensary is a business – not a charity, Simon Coles, head of PSUK said in his presentation to the DDA 2023 conference, Navigating the challenging market and maximising efficiencies, featuring Golden Tote

The presentation discussed current challenges for brands and generics, and suggested some solutions:

For brands, recent challenges include:

• Reduction in wholesale discounts
• Removal of MDS discounts
• Discontinuation of products
• Divestment of products
• Restriction of supply to prioritise profitable markets.

For generics these include cyclical pricing due to supply and demand pressures, and increasing purchase costs, as evidenced by the number of concessions.

Among the solutions offered to the conference, Coles highlighted:

• Simplified ordering
• Open script opportunities
• 28-day prescribing
• PSUK tools such as Over Tariff review

For brands, the advice was:

• Sign up to all available MDS schemes
• When prescribing brands, check MDS discounts available
• Use PSUK tools such PAD guide and Boost tables to see profitable options

The presentation also included a reminder of the PSUK Golden Tote service process and benefits, and a look at the Pharmaself24 prescription vending machine.

View the presentation: Navigating the challenging market and maximising efficiencies, featuring Golden Tote