The Pharmaceutical Services Negotiating Committe has announced that minsters have agreed to inject a further £50m of advance funding into community pharmacies at the end of May.
Our expert Sanjay Patel, who runs a pharmacy business consultancy, thinks an average community pharmacy, i.e. one dispensing 7,000 items, can expect to be paid £4,000 on June 1.
Whilst Sanjay welcomes the cash injection as “it will help owners not fall off the fast approaching cash flow cliff edge,” he thinks “this is just another loan which is often presented as a handout by the government.”
“It feels a bit like another stay of execution!
“What pharmacy owners desperately need is certainty and reimbursement for the extra cost incurred. They are very worried about the future and the ability to pay this money back.
“Pharmacists have been doing their part daily throughout the coronavirus pandemic and have put themselves and their teams at risk. It is time this was recognised with more than a thank you from the government.”
Sanjay thinks that the NHS BSA is likely to calculate the payment based on the method used in previous months. Contractors will most likely get a 6.5 per cent uplift of the 1st June payment. The exact details are to be confirmed.
Below are some estimates calculated by Sanjay.
Items Per Month / Estimated Loan Payment on June 1:
5,000 – £2,800
7,000 – £4,000
10,000 – £5,700
12,000 – £6,800
15,000 – £8,500
Total Estimated loans given to date:
5,000 – £20,000
7,000 – £28,000
10,000 – £40,000
12,000 – £48,000
15,000 – £60,000
