<CD record
 

     PHARMACYKNOWLEDGE.CO.UK - FREE RPSGB and GPhC UK Pre Reg Past exam paper questions, answers AND revision guide

dot
dot dot
dot    
dot  
Home
Guides/Articles
Closed Book
Open Book
Calculations
Books
GPhC

What's New! 

We are now working hard to update the site. We are slowly uploading more past exam questions with extended answers. Good luck to all the new pre-reg students.

Pharmacy Prereg exam revision guide
"Helping you pass your RPSGB exam pharmacy prereg exam" 

PHARMACY JOBSPharmacy money

www.pharmacyknowledge.co.uk not only hopes to make the prereg exam easier but to give you knowledge for the future
whether its boots chemist, lloyds pharmacy, hospital, independent, locuming, whatever you choose. Its worth checking out what the different companies are offering to get you motivated


 

Where does a pharmacist money come from?

If you've read the drug tariff thoroughly you might know this information in more detail and with accurate figures, however I'll explain why pharmacists can earn so much, and how the pharmacy owner such as boots or independent pharmacy's can afford to pay high salary's? A pharmacist owner of the smallest pharmacy you can think of can earn over £60,000 easily, here's how....

I will show you with loose calculations how the money can build up even when underestimating (every figure used is an underestimate). To start lets say a normal pharmacy with approximately 2000 items per months. This is the usual "minimum" for  most pharmacy's. Every pharmacy that does 2000 items a month will get paid approximately £20k every 6 months. So that's already £40k per year. View drug tariff part VIA.

Every item dispensed, the business gets paid a dispensing fee, this is approximately 90p. So per month they will get £1800 (90p x 2000 items),  per year they will get £21600. Add this to what we had earlier that a total of £61k.

Pharmacy's make most there money from generics, cause companies like sigma can sell the product at a price lower than the drug tariff (the drug tariff price is what the pharmacy gets paid for reimbursement of the item). The price of medicines bought can be up to 10% of what they get paid. However branded items usually come with little or no discount at all, and money made from branded items is only for the dispensing fee and for the customer. Lets say (as an underestimate, I can go so far to say its a big underestimate) the pharmacy earns 20% from the medicines sold. A small pharmacy dispensing 2000 items may spend an average of £300 per day, earning £60 per day. If the pharmacy is open 5 days per week, then that's around  £15600 per year. So our total is now £77k per year.

There are also extra services in which pharmacy's are paid, such as for handling controlled drugs, over the counter business and private prescriptions.

There are also many fees in which the pharmacy must pay such as legal fees (solicitors), accountants, staff, ect.

However, as I was overly underestimating everything the pharmacy should still earn £77k. So if it is a pharmacy owner they will get this money for themselves, and could easily pay £40k for a pharmacists to work full time. Therefore a pharmacy owner can get £30k per year for doing practically nothing. Also remember all my estimates are for the minimum business a pharmacy will have, if a pharmacy gets less than 2000 items per month then its on the road to closure.

note: these are all estimates and figures have been derived from the drug tariff and observations in pharmacies, I am not a pharmacy owner so I can't say how much they actually earn.

 

 

 
Home
Abdominal
Alli
Blood
CD Rec Keep
CSM Warnings
Coughs - Pre-reg Exam guide
CSM Warnings 2
EHC
Enzymes
Insomnia
P,POM,GSL
CD record
Steroids
Thrush/Vaginal Candidiasis - Pre-reg Exam
Vitamins

  dot
dot
dot www.pharmacyknowledge.co.uk Pharmacy Student pre-reg revision guide