Community pharmacy funding announcement: funding of 2.592bn agreed for 2018/19

Community pharmacy funding announcement: funding of 2.592bn agreed for 2018/19

October 26, 2018

Community pharmacy funding levels will be maintained for 2018/19, with total funding set to £2.592bn. This will be split, as previously, to deliver £1.792bn in fees and allowances and £800m in medicine margin.

In order to deliver the £1.792bn in fees and allowances, the Single Activity Fee will be set to £1.26 from the November Drug Tariff, but this will remain under review throughout the rest of the year.

Alongside this, Category M prices will reduce by £10m per month from November for the next five months (until March 2019). This is to repay excess margin earned by pharmacies in previous years, in particular 2015/16 for which the results of the margin survey show that there was a significant over-delivery of margin.

The price reductions follow the pause in margin recovery which PSNC agreed over the summer to help ease cash flow for contractors, and they reintroduce the recovery at a lower monthly rate (£10m monthly reductions, rather than £15m monthly) than it had been previously.

PSNC is holding a webinar: Making sense of the 2018/19 funding settlement on Tuesday 30 October at 7.00pm will discuss the settlement and on the night Simon Dukes, PSNC Chief Executive, and Mike Dent, PSNC Director of Pharmacy Funding, will be available to answer your questions about the settlement and what it means for your pharmacy and for the sector more broadly.

Full information is available on the PSNC website including how to register for the webinar.

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