Return on investment

A positive return on investment is critical if service provision is to become a significant part of your business.

Research carried out in the wake of the pandemic and subsequently published in the British Medical Journal found, unsurprisingly that: “When community pharmacies receive adequate compensation and resource support for Covid-19 vaccines, they are more likely to deliver the service.”¹

CPE has commissioned a strategic review of pharmacy service provision. The negotiator says its final report, which is expected to land this summer, will examine how national bodies and local integrated care boards can work with community pharmacy to ‘’realise the vision of delivering more clinical care, including examining the key enabling factors of the workforce, IT, commissioning and funding”.  

Future proofing your business

Succession planning is the process of identifying and developing team members who can fill key roles should the current holder leave. 

Working through this module and last month’s should help you to focus your thinking about individual team members and their abilities; the judicious use of PDPs and skills and competency assessments will support this planning process. 

You might think that your business is too small for this activity, but thinking about it now and having a plan in place could be a lifesaver in the future.

Remember: It’s not impossible, and you don’t have to do it all at once.

References

1. Maidment I, Young E, MacPhee M, et al Rapid realist review of the role of community pharmacy in the public health response to Covid-19 BMJ Open 2021;11:e050043. doi: 10.1136/bmjopen-2021-050043