Our Interview with Feras Karam on 60DD’s financial impact for Pharmacies – Part One

 

 At Alita we are continuing our discussions with Pharmacies to further understand the significant impacts of the new 60DD laws and how this will in turn affect customers.

We recently sat down and interviewed Feras Karam from Pharmacy 4 Less. We discussed in-depth these significant impacts.

We were interested to find out how Pharmacies are paid, how they will be impacted, how this will affect customers and what proposed strategies Pharmacies plan to implement to combat the significant loss of income due to the new 60DD laws. 


Here are the key highlights from this interview: 

 

1. Do you understand how pharmacies get paid and how it will change under 60DD?

 

There is a lot of talk about the impact of 60DD on pharmacies income, but while talking to suppliers about 60DD many don’t understand how pharmacies get paid now and how it will change under 60DD.

 

In our recent interview with Feras Karem we discussed how Pharmacies are paid and by who for the medicines they dispense and how the new 60DD policy will affect this.

 

2. Could your Pharmacy survive losing 30-40% of their Gross Profit without making major changes?

  

 

 Feras Karem talks about the predicted profit loss for Pharmacies with 60DD in a recent interview with us.

3. What are some of the cost reducing strategies Pharmacies will undertake to cover loss of revenue from 60DD?

  

As suppliers do we understand these likely changes to how pharmacies will operate and what it might mean to our businesses?

 

In our recent interview with Feras Karem we discussed the proposed strategies Pharmacies will have to take to increase profit and pass on costs to customers as a direct result of 60DD. He mentions cutting discounts, reducing staff and Pharmacy hours and passing on costs to customers Without these changes Pharmacists may not be able to stay in business.

 

4. Why new Government cuts will equal higher prices?

 

We talked in a recent interview with Feras Karem from Pharmacy 4 Less about where pharmacies will recoup the loss in funds as we move to 60DD dispensing.

 

5. Is there really such a thing as a Poor Pharmacist?

 

 

 In a recent interview Feras Karem from Pharmacy 4 Less discusses Pharmacies still getting paid for their work with the new 60DD.

 

 

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