Community Pharmacy Covid-19 Funding News
Last night’s news that the government have agreed to advance £300,000,000 of funding into Community Pharmacy is welcome news at this time when drug prices have gone through the roof and Community Pharmacy is under intense pressure.
At this stage, whilst the funding is to be welcomed, I think it is important to acknowledge that it is not additional funding. By this I mean, it is almost certainly going to be clawed back at some future point from later payments due to contractors. We are trying to get clarification on this, but I think it is safe to assume that this funding is only an advance payment as opposed to additional money. The announcement indicated that it would be included in January and February payments so additional payments should be seen in the next two months NHSBSA payments.
There is an area of all of this that you need to be considering if you are buying a pharmacy at this time. It is important that any sale agreement reflects the fact that a clawback will be applied in respect of the advance payment that has been made and buyers should be careful to ensure that they don’t meet the cost of this.
The PSNC is continuing with negotiations and it is clear that this matter will evolve over the next few days and weeks. Despite the terrible circumstances at the moment, our pharmacy team remains busy and active and if you need help with any matter, please contact James Clewlow, Liam Mulvee, Holly Goacher or Oliver Parsons.
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