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Interim Funding Arrangements from October...    

16/9/2012

2 Comments

 
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Once again things are going to get difficult for contractors...

 I've just been reading the news from the PSNC about the interim funding arrangements.  
 It seems that "this year" it has not been possible to complete the difficult negotiations regarding the funding arrangements - and so an interim settlement has been agreed, which will be delivered by implementing adjustments to the Drug Tariff from October.


 The changes will bring funding levels in line with an interim total funding figure for 2012/13 which is based on that agreed for the last financial year (£2,486m).

 The changes also take into account the results of the 2011/12 margins survey, which shows that pharmacies’ retained purchase margin exceeded the sum allowed by £235 million in the last financial year.
 In essence, the changes being introduced will reduce practice payments by 15p per item (to 58.2p per item) and generic medicine reimbursement prices (Category M) by £72.5 million per quarter, resulting in an overall reduction in average item value (AIV) of 45p per item.


 Remember that the result of this interim settlement will be felt most severely at New Year when final payments will be received for prescriptions dispensed in October...as these payments will reflect the lower fees.

Click Here to read the full information from the PSNC

2 Comments
A Contractor
17/9/2012 04:02:22 am

This news is very disappointing and I suspect more bad news is around the corner because this is only an interim settlement; probably due to the fact that the DOH is trying to reduce costs by basing the settlement on the recent cost of service inquiry (CSI) which showed that independent pharmacies were apparently cheaper than expected.

We all know that this is due to the fact that independents didn't factor in all their costs and now we will feel the pain.
Training is necessary to ensure independents really value the work that they do in the evenings and on Sundays - so that subsequent COSI show the full costs involved!

Reply
A very worried Contractor.
17/9/2012 05:49:33 am

This is really disappointing. This kind of drop will remove thousands each month from many contractors who are already not finding it easy.

The Dept of Health seem to think that we can run a pharmacy on thin air.

How are we to invest in our pharmacies when year on year the income keeps coming down?

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