DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/hnd82p/uk_retail) has announced the addition of the "UK Retail Pharmacies Market Update 2015" report to their offering.
This market update examines the pharmacies sector in the UK. Pharmacies are registered outlets that are entitled to dispense pharmaceutical products, which are available on prescription only (POM). They are also able to sell a wider range of over-the-counter (OTC) medicines than other retailers, including those classified as pharmacy-only (P) pharmaceuticals. Many pharmacies also sell cosmetics and fragrances, toiletries, electronic goods and offer services such as advice on giving up smoking, diabetic testing, etc.
Pharmacies are reimbursed for dispensing National Health Service (NHS) prescriptions and remunerated for the service they provide. Income derived from dispensing NHS prescriptions is vital for the majority of pharmacies. The vast majority of pharmacies/dispensing chemists in the UK (approximately 99%) have an NHS dispensing contract. The dispensation of NHS prescriptions makes up over 90% of a pharmacy's revenue. Around three-quarters of prescriptions are free to groups such as children, the elderly and those on benefits.
In addition to standard remuneration and reimbursement payments, small community pharmacies in the UK also receive extra payments under the Essential Small Pharmacy Local Pharmaceutical Services (ESPLPS) scheme. These payments provide financial assistance to pharmacies that are not economically viable because of their location, but which are considered vital to the provision of pharmaceutical services to their local community.
Most community pharmacists provide services under a contractual framework agreed for England and Wales - the Community Pharmacy Contractual Framework (CPCF) - which came into force in 2005. The CPCF provides the basis for improving the quality and range of services provided through community pharmacies. Funding for the CPCF is delivered through a combination of fees and allowances and retained medicine margins. Each year, the Department of Health (DH) and the Pharmaceutical Services Negotiating Committee (PSNC) undertake negotiations related to the annual funding for the CPCF and carry out a medicine margin inquiry to find out how much medicine margin pharmacy contractors retained in the previous year.
Key Topics Covered:
1. Introduction & Definition
2. Report Coverage
3. What's Key In The Market?
4. Economic Trends
5. Forecasts
6. Strengths, Weaknesses, Opportunities & Threats
7. PESTEL
8. Company Financials
Companies Mentioned
- Boots
- Lloyds pharmacy
- NHS
For more information visit http://www.researchandmarkets.com/research/hnd82p/uk_retail
