How tech can raise pharmacy revenue and drive down costs

Community pharmacists across the UK are looking for ways to reduce operational costs and find new sources of revenue. This is a pressing issue for the sector:
reversing a decade of cuts to pharmacy funding will be a mammoth task, while pharmacists have taken on new primary care responsibilities under Pharmacy First.

This means that fresh sources of revenue and lower costs will overwhelmingly come from new technology and the efficiencies they can bring. As Britain’s 11,500
community pharmacies assume a larger role on the frontlines of primary care, pharmacists should rapidly implement cost-effective tech solutions that provide
pharmacies with a one-stop-shop to drive down costs and increase revenue.

Opportunity in PGD reform
New technology will be key for community pharmacists to benefit fully from reforms to PGDs. The scope of PGDs is now significantly expanding: as of June 26,
pharmacy technicians are now on the list of registered healthcare professionals who can make use of PGDs.

These reforms can benefit community pharmacies in several ways. For one, they will allow more pharmacy staff to administer ‘frontline services’ such as
vaccinations – reducing costs and generating revenue. Further, the wider range of services that pharmacies can offer under Pharmacy First will make these
procedures, as well as other kinds of preventative care, more accessible and convenient – increasing footfall. With international travel and tourism now
growing apace, increased demand for travel vaccinations means that, according to research from Charac, the average UK community pharmacy can expect to
generate £46,800 a year through travel health services.