Announcement

Collapse
No announcement yet.

Where to sell a distance operating pharmacy business?

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Where to sell a distance operating pharmacy business?

    Dear all, I haven't posted on here for quite some time!

    I'm contemplating selling my distance operating pharmacy - a relatively new business (7 months trading). Not a huge no of items a month but I think it would be more suited to people that want a challenge as opposed to taking over an existing profitable pharmacy. Obviously this would be reflected the asking price.

    Any idea where I could advertise this? Based in North West London....

    Thanks
    Last edited by cheapshots; 25th, February 2019, 12:47 PM.

  • #2
    You could try P2U to see if they would give you an offer.
    johnep

    Comment


    • #3
      Thanks John, I highly doubt they would give me the time of day, I'm smaller than a drop in the ocean compared to them.

      I have a feeling I'm wasting my time trying to sell..... :'(

      Comment


      • #4
        Originally posted by cheapshots View Post
        Thanks John, I highly doubt they would give me the time of day, I'm smaller than a drop in the ocean compared to them.

        I have a feeling I'm wasting my time trying to sell..... :'(
        It still might be worth a try: if they buy it, they control it and it can't compete with them.

        Have you thought about a pharmacy vending agent (if there are any left) ?

        Comment


        • #5
          I'm relatively new to the world of primacy care pharmacy so please excuse the rather basic question but what is a pharmacy vending agent?

          Comment


          • #6
            Originally posted by cheapshots View Post
            I'm relatively new to the world of primacy care pharmacy so please excuse the rather basic question but what is a pharmacy vending agent?
            Same idea as an estate agent when you sell a house but they sell pharmacies.

            Comment


            • #7
              Orridges were the main agents.
              johnep

              Comment


              • #8
                Thanks for all your replies. Just a quick update for anybody that may be interested - Orridges has been taken over by Christie & Co

                To be honest I'm quite sad at the prospect of potentially having to sell - like many others I worked very hard securing the premises, getting the GPhC & NHS applications, setting up the pharmacy, PMR etc etc etc

                The reality is that once you're up and running it's actually very tough out there! Competition is extremely high and the NHS simply don't pay enough.

                Having worked in secondary care for many years and seeing (first-hand) the NHS wastage (with no accountability mind), I think it is scandalous that the NHS has put such a squeeze of primary care pharmacies

                Rant over



                Comment


                • #9
                  It's definitely not easy.

                  One of your particular challenges would be having the premises taken over particularly in London.

                  A distance selling pharmacy by it's nature can be based anywhere in the country. Why pay London rents when you can pay rents in the North-East somewhere for a fraction of the cost and in theory have access to exactly the same customer group.
                  I remember when a blog was an individual boot.

                  Comment


                  • #10
                    I chose a London location for various reasons (many of them personal), having said that even if the rent was 40% less than what I'm paying now, it's still very challenging. My biggest costs are (1) rent and (2) NHS spine N3 line rental.

                    The icing on the cake for me was a lengthy 'discussion' I had with a GP surgery about them sending me 28-day quantity script with a comment 'BLISTER PACK PLS' instead of issuing in the usual way (7-day quantity repeatable 4 times). The surgery in question have refused to change it, citing the the Brent CCG have advised them to issue this way (!)

                    Bottom line is the NHS just wants to squeeze us little guys out and let the big multiples take over, who knows what sort of undercover deals they've struck - I must stress this is just my highly cynical opinion,

                    Comment


                    • #11
                      Originally posted by cheapshots View Post
                      I chose a London location for various reasons (many of them personal), having said that even if the rent was 40% less than what I'm paying now, it's still very challenging. My biggest costs are (1) rent and (2) NHS spine N3 line rental.

                      The icing on the cake for me was a lengthy 'discussion' I had with a GP surgery about them sending me 28-day quantity script with a comment 'BLISTER PACK PLS' instead of issuing in the usual way (7-day quantity repeatable 4 times). The surgery in question have refused to change it, citing the the Brent CCG have advised them to issue this way (!)

                      Bottom line is the NHS just wants to squeeze us little guys out and let the big multiples take over, who knows what sort of undercover deals they've struck - I must stress this is just my highly cynical opinion,
                      Having said all that, put yourself in the position of a purchaser:

                      What would you be prepared to pay for it ?

                      Comment


                      • #12
                        Originally posted by cheapshots View Post

                        The icing on the cake for me was a lengthy 'discussion' I had with a GP surgery about them sending me 28-day quantity script with a comment 'BLISTER PACK PLS' instead of issuing in the usual way (7-day quantity repeatable 4 times). The surgery in question have refused to change it, citing the the Brent CCG have advised them to issue this way (!)

                        ,
                        Work out a reasonable blister-pack fee and ask the patient or their care organisation for it?
                        If they won't you can always direct the prescription to another pharmacy that will.


                        One thing to tell the GP is that if there are any mid-month changes then you are stuck because you can't rework the blister packs.
                        So all the lot have to be discarded and a completely new 28 day prescription issued to adjust just one of the doses?
                        That impacts them in their prescribing budget. Also if the patient has PRN, says they don't want them, then changes their mind that they do want them, it can't be changed on the prescription. So a new prescription is needed.
                        7 Day prescriptions make it easier to soak up any situations like this.
                        The reason is because the electronic prescription has been notified to the NHSBSA.
                        Not strictly true but they you have a lot of admin hoops to go through - not that a pharmacists time cost anything.
                        47 BC : Julius Cesar : Veni Vidi Vici : I came, I saw I conquered.
                        2018 AD : Modern Man : I shopped, I clicked, I collected.
                        How times change.

                        If you find you have read something that has upset or offended you an anyway please unread it at once.

                        Comment


                        • #13
                          Originally posted by Pharmanaut View Post

                          Work out a reasonable blister-pack fee and ask the patient or their care organisation for it?
                          If they won't you can always direct the prescription to another pharmacy that will.



                          One thing to tell the GP is that if there are any mid-month changes then you are stuck because you can't rework the blister packs.
                          So all the lot have to be discarded and a completely new 28 day prescription issued to adjust just one of the doses?
                          That impacts them in their prescribing budget. Also if the patient has PRN, says they don't want them, then changes their mind that they do want them, it can't be changed on the prescription. So a new prescription is needed.
                          7 Day prescriptions make it easier to soak up any situations like this.
                          The reason is because the electronic prescription has been notified to the NHSBSA.
                          Not strictly true but they you have a lot of admin hoops to go through - not that a pharmacists time cost anything.
                          Sorry, but Boots (iirc) have already tried this (in BOLD). It was found to be illegal under the Disability Discrimination Act.

                          Can't see why because Mobility Buggies (for example) have to be paid for.

                          Have you thought about relocating to the ROI or continental Europe? Pharmacy seems to be better valued there and you've got about a fortnight left to do it.

                          Failing that you might get a late entry apprenticeship to train as an electrician (but watch out-there's various grades and you want the best!)

                          Depends on Anno Domini.


                          Comment


                          • #14
                            Originally posted by cheapshots View Post
                            I chose a London location for various reasons (many of them personal), having said that even if the rent was 40% less than what I'm paying now, it's still very challenging. My biggest costs are (1) rent and (2) NHS spine N3 line rental.

                            The icing on the cake for me was a lengthy 'discussion' I had with a GP surgery about them sending me 28-day quantity script with a comment 'BLISTER PACK PLS' instead of issuing in the usual way (7-day quantity repeatable 4 times). The surgery in question have refused to change it, citing the the Brent CCG have advised them to issue this way (!)

                            Bottom line is the NHS just wants to squeeze us little guys out and let the big multiples take over, who knows what sort of undercover deals they've struck - I must stress this is just my highly cynical opinion,
                            GP practices have no authority to make decisions under DDA for how you dispense. It's down to the assessment of each individual pharmacist what "reasonable accommodations" the patient requires to take their medication safely. I believe a supermarket was challenged as they refused to do blisters at all and once they put forward their interpretation of "reasonable accommodations" the whole thing quietly went away. GP's are more than happy to suggest compliance aids as it doesn't cost them a penny and ultimately reduces their appointment burden if patients take their medication more effectively.
                            I remember when a blog was an individual boot.

                            Comment

                            Working...
                            X