Last Monday, we enjoyed a public holiday here in a not-so-sunny Western Australia. Around midday, our team chat started buzzing with excitement: the Eighth Community Pharmacy Agreement (8CPA) had been signed! This agreement is a significant win for the industry, and we at Peak Strategies are eager to delve into the details as they emerge. Early feedback from clients and other pharmacists has been positive, especially after the tumultuous year marked by the 60-Day Dispensing policy and the preceding challenges of COVID.

The countdown to the end of the financial year has begun, and its high time for pharmacy owners to take charge and prepare for a stellar finish. As we inch closer to 30 June, we often receive an influx of inquiries from pharmacy owners and managers, all echoing the same question: "What must we do before the year ends?" Well, fret not, for we have the answers you seek. In this article, we'll delve into the crucial items that demand your attention as you wrap up the year. Get ready to uncover the key tasks that will ensure your pharmacy enters the new fiscal year on a strong footing. Let's dive in!

I find when it comes to marketing, everyone's first thought is to set up a strong social media presence. While it's a fantastic tool for raising awareness, pharmacies must explore other channels to connect with their community. And believe it or not, focusing on these channels can be even more crucial than social media! So, stepping away from the digital marketing strategies for this blog, I’ve highlighted below why and how you can begin to tap into generating engagement for your pharmacy at a local level!

It's astonishing to see how some buyers dismiss due diligence as a mere inconvenience and expense in the process of purchasing a business, without fully considering the risks involved. Unlike buying a house, acquiring a pharmacy entails numerous potential pitfalls, each with the potential for significant consequences. Moreover, the emotional aspect of the buyer adds another layer of complexity, as it may lead them to overlook crucial risk factors. This oversight leaves the buyer exceptionally vulnerable to unforeseen challenges.