Pharmacy income: leave no stone unturned

When planning a pharmacy, patient numbers are the key, not necessarily the size of the space available.

Pressures continue to build to identify new sources of practice income. No stone is left unturned: one off health checks, adding new service areas or renting out under-utilised rooms are all possible routes to maximising cash flow.

Rental income from a purpose built co-located pharmacy is a great advantage but many practices do not feel they have the space within their reception and waiting room areas to accommodate such a facility.

But are you absolutely certain a relatively small re-jig of space would not allow one to be installed?

We have recently dealt with a number of new pharmacy installations which, although they occupy a very small area, are now generating an attractive long term source of income to the practices concerned.

If you do not have a pharmacy income or the space currently being used is not ‘front of house’ then it could be very worthwhile to review your space allocation. Could you make better use of the pram store, draft lobby or the circulation space within the waiting area?

The important thing to remember is that patient numbers are the key issue and not necessarily the size of the space available.

We would be very happy to undertake such a space review – give us a call for an initial discussion. Remember leave no stone unturned!

About Neil

Neil has been a Chartered Surveyor at local, regional and national levels for the past forty years. The health care sector is now a substantial part of his advisory work. Outside the office (when he can manage to escape), he can be found on the golf course or following Leicester City FC's rollercoaster ride each season!

,

Comments are closed.