Every five years, the government and the Guild sign an agreement on how to pay pharmaceutical pharmacies (PBS). These compensation agreements have been in force since 1990 and have extended their scope to include the provision of professional pharmaceutical programs and services. Pharmacy Guild of Australia President George Tambassis said the new agreement was “an agreement for the time” in the face of the COVID 19 pandemic. “The role of PPE in the negotiations will produce real and positive results over the duration of the agreement, support the crucial role of pharmacists in primary care and enable them to practice fully, which will lead to better outcomes for their patients` health,” said Professor Freeman. “PSA fought incredibly hard to represent pharmacists in this agreement. Given the likely effects of the COVID 19 pandemic, this agreement has been particularly difficult,” said PSA National President Professor Chris Freeman. Since 1990, the remuneration received by pharmacists for the dispensing of drugs from the Pharmaceutical Benefits Scheme (PBS) and the regulation of the location of pharmacies have been governed by a number of agreements between the Australian government and the Pharmacy Guild of Australia (the Guild). Over time, these agreements have expanded their scope and now offer professional pharmacy programs and services. Compensation for the distribution of subsidized pbs, pharmaceutical drug management programs and services in pharmacies is expected to be $18.3 billion over the five years of the agreement. Check out our compensation, program and wholesale information sheets. MSI Taylor Pharmacy is working with the Guild and other stakeholders to ensure that the 7CPA agreement remains sustainable for the pharmaceutical sector.
“This agreement also supports the introduction of electronic prescriptions to enable safer and more effective use and care of medicines by pharmacists, while supporting patient choice and ensuring their privacy. MSI Taylor Pharmacy Services has extensive pharmaceutical knowledge and more than 20 years of experience that help pharmacy owners and managers successfully implement a pharmacy business plan to improve their financial position. To date, we have worked with more than 150 pharmacies and have customers across Australia who have stakes in the pharmacy. The agreements ensure the safety of the government and small pharmacies, which are responsible for effectively providing taxpayers with PBS-based drugs to the benefit of patients. Just as community pharmacies have experienced a period of considerable uncertainty and volatility as a result of the COVID 19 pandemic, so have pharmaceutical wholesalers. The Guild recognizes and supports the crucial role of the pharmaceutical distribution infrastructure, and the importance of its strength remains high. “We welcome the $100 million in grants for major programs such as Home Medicines Review (HMR), Residential Medication Management Review (RMMR) and MedsCheck and look forward to refocusing how Australian hospitals will be able to participate in the HMR program in light of recent rule changes,” said Kristin Michaels, Executive Director of the Australian Hospital Medicines Society (SHPA).