Today, the Pharmacy Guild of Australia, in collaboration with NostraData, has launched a new calculator for pharmacies to understand changes to their dispensary remuneration resulting from the recently announced 8th Community Pharmacy Agreement (8CPA).
The new calculator equips pharmacies with an important tool to understand the evolving remuneration landscape. It provides Guild members with data reflecting outcomes for their individual pharmacy under the 8CPA. It follows the success of a similar calculator for 60-day dispensing remuneration.
An additional tool for professional services income will also be made available once the Regional Pharmacy Maintenance Allowance matrix for 2024-25 is finalised.
Acting President of the Pharmacy Guild of Australia Nick Panayiaris commended NostraData saying, “During the last year, Guild members benefited significantly from data and insights provided by NostraData’s analytical tools.
“I thank NostraData for their support and expertise during recent challenges that has demonstrated their commitment to helping pharmacists thrive within the business landscape.”
NostraData provides access to a comprehensive analytics solution for pharmacies. Building the 8CPA calculator was a natural progression after the success of their 60-day dispensing calculator.
Jim Xenos, CEO of NostraData, underscored the significance of the new tool, saying, “At NostraData, we always aim to empower community pharmacies by granting them easy access to essential insights for running sustainable businesses and supporting local communities.
“The 8CPA calculator will enable pharmacies to navigate changing regulations and understand their impact. We are proud to partner with the Pharmacy Guild of Australia on this most important initiative.”
The new calculator tool reflects the Guild’s continuing efforts toward providing efficient and effective business support solutions for pharmacies via strategic partnerships. The 8CPA calculator gives pharmacies scope to make informed decisions that align with their goals and better serve their patients’ needs.
The 8CPA calculator will be hosted on NostraData’s Informacy platform. Guild members can access the calculator and a user guide at 8CPA Calculator.
The 8CPA calculator will enable pharmacies to navigate changing regulations and understand their impact.
Jim Xenos, CEO of NostraData
