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NPA Business Support
This unit aims to future-proof the commerciality of members' businesses by researching services and products available through commercial channels and developing resources to assist members in maximising sales and profits.

Current key activities include category management, utilities' cost control, banking services and new retail opportunities. The department examines the practicalities of running a pharmacy business and aims to assist members in realising the maximum potential from their businesses, both within and outside the NHS. Advice is also available on all financial aspects of the NHS contract and other remuneration, along with the implications of providing new, extended and specialist NHS pharmaceutical services.
NPA Target Pricing Service
The NPA Target Pricing Service provides an analysis of all available prices for each of the top 80 + generics. This service is provided free of charge by WaveData Ltd for members of the NPA.

The prices are those collected by Wavedata from retail pharmacy, and include offers made by wholesalers and manufacturers primarily for generic products.

A target price is then worked out for each of these generics, and updated hourly. The target price represents a figure close to the average price for each product.

The data in this service represents a fair buying price for each product, and is updated every hour to ensure the prices are live and relevant to today's purchasing. It is intended as both a buying tool for pharmacists, and an example of what Wavedata can do if there is sufficient demand for further information.

This is a free service for NPA members. For more details on membership view the Membership area of this site or contact membership@npa.co.uk



For all enquiries on the NPA Target Pricing Service contact pharmacybusiness@npa.co.uk
NPA Financial Modelling (England & Wales)
– Under Construction
In response to member requests the NPA has developed a financial modelling tool for members in England and Wales (a specific model for Scotland will be developed once the finer detail of the new Scottish contract is released). This tool will allow members to enter financial details of their pharmacy such as dispensed items, retail sales, salary costs, rents and rates, etc. A template profit and loss account will then be produced for members to view. Gross and net profit margins will be calculated automatically.

This can be a valuable working tool for your pharmacy. For example it may help you to answer the following questions you may typically encounter in running your business:
  1. Your dispenser asks for a £1 per hour pay rise. What effect would this have on your net profit?
  2. Your rent is due to increase by 20%. What effect does this have on your margins?
  3. Your wholesaler reviews your discounts for a variety of lines. What effect does this have on your business?
This will provide a valuable interactive business resource for your pharmacy. In the future once the NPA is able to collate a significant sample of information you will also have access to bench mark reports. This will prove extremely valuable in ascertaining how you compare with similar pharmacies in your PCT area or throughout the UK.

Please note if you do not supply your information you will not be able to gain access to this bench mark data.

The above is a free service for NPA members. In the future the NPA will be developing an analysis service for a small fee. This will give your pharmacy business useful feedback on areas of business improvement.
Tel: 01727 832 161  Email: pharmacybusiness@npa.co.uk