This year marks the 50th edition of the Guild Digest (Digest) – the pre-eminent publication examining the operation and financial performance of Australian community pharmacies.
The Digest 2022 presents a snapshot of Australian pharmacy business conditions for the 2020-21 financial year.
National President of the Pharmacy Guild Trent Twomey said the success of the Digest was due to the participation of community pharmacists over the past 50 years.
“This is a crucially important annual survey, particularly this year during a period of transition to the seventh Community Pharmacy Agreement,” Professor Twomey said.
“Without their contribution and support, this Digest edition would not have been possible.
“The insights provide vital intelligence from which we can have a deeper understanding of the issues that members face.
“The Guild also recognises the strong support of the pharmacy accounting firms that have provided tangible assistance by contributing de-identified information to the Digest on behalf of their pharmacy clients.
“In recent years, community pharmacy has played an important role in accelerating the roll-out of COVID-19 vaccines, with greater population health and economic benefits as a result.
“Ultimately, community pharmacies operate to improve the timely access to quality use of medicines and are one of the most highly trusted and respected professions in Australia.
“The Digest provides valuable management information to pharmacy owners and managers as well as providing insight into this integral component of the broader health sector.”
Stephen Armstrong, the Guild's Economic Advisor, has been involved with the Guild Digest for more than 20 years.
"For 50 years, Digest data has provided a rich source of data for economic analysis, including on the impact of changes to government policy and of other proposed or considered policies,” he said.
“One of the Digest's greatest strengths is in its longevity, which provides reliable historical data with which to compare trends in expenses, revenues, staffing, size and many other pharmacy characteristics.
“It is a powerful tool to support negotiations and discussions with government and other stakeholders, from controversial clashes with government in the 1980s, through major periods of upheaval and reform, and right through to the rise of professional services in recent community pharmacy agreements, as well as through the pandemic.
“Member support of the Digest is essential to its success, and to the Guild's success in ensuring the ongoing viability of the service and care that community pharmacies provide to all Australians."
Tasmanian Harvey Cuthill, a pharmacist for more 54 years, has seen the Digest grow and evolve over the past 50 years.
He recognises and appreciates how important it is.
“As a National Councillor of the Guld I was part of the decision-making process in establishing the future direction of the profession.” he said.
“Having the Digest data to back up our polices and strategies was invaluable.
“We could present evidence supporting our arguments and decisions, and that data came from our members who were at the frontline of the profession, so we knew it was accurate and relevant.
“I also want to thank everyone who has contributed, and who continue to contribute to the Digest.
“Without your input we may not have achieved some of the successes we enjoy today.”
The 50th Guild Digest can be accessed here.
