In the past, Community Pharmacy Agreements provided a sense of security for the community pharmacy industry, offering a clear outlook for the next 5 years. It allowed owners to grasp their business model, profitability, and cash flow, providing a foundation for continued funding from the banking system. However, the world of pharmacy is currently far from certain due to a hastily implemented, non-consultative policy by the Health Minister. Uncertainty now looms over numerous aspects of community pharmacy, leaving owners worried about their future income, cash flow, business worth, and overall sustainability. This uncertainty has cast a shadow over every facet of this vital industry, which plays a crucial role in community health.

We understand the emotions in the industry currently. Many are very concerned about the future of their businesses, given the potential impact of 60 Day dispensing and what we know (so far). Whilst we must continue with our best efforts to advocate to MP’s, we also need to focus some of our attention to your pharmacy as a business.

Labour Treasurer, Jim Chalmers’ has released the 2023-2024 budget, with a focus to relieve cost of living pressures, provide greater access to healthcare and more emphasis on compliance with the ATO. For community pharmacy though, the budget came with much worry and concern for the future of the industry, their patients, their businesses, and their teams.