Many pharmacists are currently struggling with the question of how they should deal with new developments, such as negotiations with health insurers, the threat of competition from new entrants to the market, more complex forms of communication and consultation with prescribers, and new arrangements with suppliers. Besides this, for many years it was customary for pharmacists to enter into a ‘partnership’ with the person who would be their successor. Today, however, more and more pharmacies are being sold to chains, which now own approximately 30% of all public pharmacies. Finally, pharmacists are deciding to outsource clerical work to an increasing extent. Outsourcing ensures continuity, the proper processing of invoices and lower administrative costs.'
Pharmacy Sector Group is the leading adviser to the pharmacy sector
The Pharmacy Group can help in dealing with all these developments. BDO has provided support to pharmacists for over 30 years. We are the leading advisers to the pharmacy sector when it comes to accounting, tax and consulting services. BDO is often engaged to consider the tax aspects of pharmacies operating under the same roof as several GP practices (‘A-hoed' constructions) as well as mergers. In addition, plenty of attention is also paid to providing tax services to pharmacists in a private capacity.
Benchmarking using a unique web-based model for pharmacists
BDO has developed a model to compare the performance of your pharmacy with that of other pharmacies, a process referred to as benchmarking. In order to enable this benchmark to be made, we have developed a web-based model that is unique in terms of the large number of pharmacies it includes. Pharmacists are provided with insight into the performance of their pharmacy once every quarter, helping them to keep a finger on the pulse in turbulent times. The Pharmacy Sector Group can also help you with the following:
arranging, advising on and supervising the transfer (both purchase and sale) of practices exclusively for own clients
appraising values and arranging bank financing for purchases of practices, if required
preparing a balanced information memorandum for the sale of a practice and conducting negotiations with potential purchasers.
To find out more about the benchmark model or our other services, please contact the Pharmacy Sector Group.