Pharmacists are reporting a significant surge in confidence thanks to a settled period in the industry and increased integrated working opportunities, according to the latest Lloyds Bank Commercial Banking Healthcare Confidence Index.
Recently published, the index canvasses primary healthcare providers; GPs, dentists and pharmacists, on their outlook for the next one to five years, to provide an insight into their opinions and levels of confidence.
Combined confidence among the pharmacists surveyed has increased from a net balance of -21 to -14, with short-term confidence increasing dramatically from 13 to 32.
The upturn in confidence is reflective of more opportunities for integrated working with GPs, and follows recognition from the Department of Health of the valuable role pharmacists play in the healthcare sector.
As the need for an integrated healthcare landscape continues to grow, more than three quarters (76 per cent) of pharmacists said they expect more combined working with GP practices in the next five years, and over half (51 per cent) see the reforms to primary care as an opportunity for their business.
This optimism is reflected by an increase in the number of pharmacists who still intend to be working in the sector in 10 years’ time. In the 2015 Index, 34 per cent of pharmacists said they planned to stay in the industry, but this has grown over the past year to 54 per cent.
Despite plans for growth, long-term confidence amongst pharmacists has dropped slightly from -54 to -61. With rising operating costs facing the sector, nearly three quarters (76 per cent) are anticipating an increase in financial pressure before 2020, which could be contributing to the decline in long-term optimism.
Ian Crompton, Head of Healthcare, SME Banking, Lloyds Bank Commercial Banking, said, ‘Pharmacists have enjoyed a huge surge in confidence over the past 12 months, with more than half seeing NHS and other healthcare reforms as real and meaningful opportunities. On the back of this, many are planning to expand their business, and looking ahead they expect they will be working in a more integrated way with GP practices.
‘The integration of primary and social care will bring opportunities that pharmacists look set to seize, however, this will also bring challenges. The results of the Department of Health consultation on the future of community pharmacy is also likely to be significant in shaping the sector confidence over the next few years.
To view the full Lloyds Bank Commercial Banking Healthcare Confidence Index, visit www.lloydsbank.com/healthcare.
