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Independent pharmacies can take steps to mitigate losses from Category M clawback and funding cuts due later in the year, but that processes needs to be started now, delegates at the Avicenna overseas conference heard last week.

Shiraz Hirji, non-executive director for Avicenna, suggested a range of measures: €Prepare a five-year cash flow forecast and a business plan. Look to your nearest competition: can you join forces and work together? See if you can improve efficiency and look at your processes. Reduce stock levels and don't waste time on buying to just save a few pennies.€

Up-skilling staff can result in providing more services, such as flu vaccination and MURs, he suggested.

But action needs to taken in the next few months said Mr Hirji. €There's no point waiting for the cutbacks to hit you. Get proactive to make sure your business is prepared,€ he said.