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Showing 1 to 5 of 18 articles related to "economic".

Pharmacy Trends

Based upon historical economic trends, pharmacy operates with three known 'facts' of business life:

All pharmacies are different. There's no such thing as an average pharmacy. Most pharmacies have sales below the Guild average; Gross Margins are declining; and Pharmacy is increasingly reliant on prescriptions (and therefore less reliant on retail sales) as a revenue source.

The three key expenses for most pharmacies are cost of goods sold, salaries and rent. These expenses are generally linked to inflation. These three expenses often account for over 90% of the expenses of the business.

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Pharmacy Returns - are pharmacy returns reasonable

PBS Reforms combined with the impact of the recent credit crunch have driven many pharmacists to ask the question - should the prices being paid for pharmacies come down? In the context of the current economic climate, many expect that returns should increase to reflect the increasing uncertainty and/or risks about pharmacy. But is this the case?

Pharmacy returns

Pharmacy business sales brokers generally refer to the capitalisation rate as the return on investment. But is it?

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Pay Rises Put On Hold - The Australian

Fair Pay Commissioner Ian Harper has warned low-paid workers that the protection of jobs will be the guiding force in his final deliberations on the minimum wage.

Despite rising inflation, the man charged with setting the minimum wage has confessed he is deeply concerned that any movement that is too aggressive could exacerbate unemployment, reports The Australian.

In an interview with The Australian yesterday, Professor Harper predicted the economic slowdown would make his 2009 decision the most difficult by far.

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Pharmacy Management 101

There are 3 fundamental economic realities about pharmacy. They are:

There is no such thing as an average pharmacy — all pharmacies are different and a number of unique business and operating models are obvious in the Australian pharmacy landscape; Gross margins are in decline; and Increasing reliance on prescriptions and professional services.

Over the next two weeks, I will focus on items 2 and 3. This week I would like to discuss item 1 in detail.

Many focus on the mythical average pharmacy as being representative of pharmacy. However, even on something as simple as average turnover (annual sales), the average is not representative.

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Australian Banks to Haul in $5b in Fees

Australian banks will collect more than $5 billion in fees in the year ahead as they aim to survive the global economic crisis, a researcher forecasts.

In its annual bank fee benchmark report, Fujistu Consulting found Australian households on average pay 22% more in bank fees than British households, and 11% more than those in the US.

The survey concluded the average Australian household pays close to $1000 in fees each year, compared to $749 in the UK and $850 in the US.

Report author Martin North estimates Australian banks collected just under $5 billion in fee income in 2008, ranking them among the most expensive in the western world.

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