NPA launches online business planning tool
The NPA has launched the Pharmacy Business Planner (PBP), an online simulator designed to help independent pharmacies plan how they will respond to funding cuts.
The simulator, the latest in a suite of practical tools developed by the NPA, is based on a â€˜typicalâ€™ community pharmacy in England. Pharmacy owners can tailor the model to reflect the circumstances of their own store.
The simulator provides a net income indicator by factoring in income generated by services and dispensing and estimating the costs of providing those services. Impacts of the recent funding changes are clearly illustrated.
NPA commercial director John Pickford commented on the importance of conducting a cash flow analysis in the current climate: â€œAlthough we continue to challenge the funding position in Parliament and in the High Court, this is undoubtedly a difficult period for community pharmacy and all pharmacies should conduct regular and informed business analysis.
â€œThe NPAâ€™s Pharmacy Business Planner is one of many business products available free of charge to NPA members, to help you analyse your business affairs and maintain a profitable bottom line.â€