This Lancashire practice increased their income, enhanced patient experience and boosted the market value of their surgery by 20% when they utilised GP Surveyors Pharmacy Implant service and installed a pharmacy into their premises.
GP Surveyors worked with Coppull Medical Practice to install a pharmacy into the premises.
The practice had received a direct offer from a pharmacy and GP Surveyors were initially brought in to establish the viability of this offer. This involved establishing whether the pharmacy rent that would be paid to the GP surgery would be more than the notional rent that the surgery could receive for the floor space.
“This is one of the main concerns for GP practices who are considering installing a pharmacy into their premises,” explains James Williams, the GP surveyor assigned to the case.
“However, we calculated that the rent that Coppull Medical Centre should receive from a pharmacy would more than cover any loss in Notional Rent.”
“Our next step was to identify whether a better deal could be achieved from another pharmacy so the opportunity was put out to tender. We received competitive bids from a number of pharmacy companies with the most attractive proposal being from Medicx Pharmacy.”
GP Surveyors negotiated the Heads of Terms for the lease with the pharmacy’s Development Director to ensure that the terms were as favourable as possible for the practice. As part of this, a premium was agreed and Medicx Pharmacy paid for a new entrance to be created. They also paid a little extra to help the surgery reorganise internally.
GP Surveyors then monitored the process, chased solicitors on behalf of the GP practice and made sure that any obstacles were overcome as quickly and easily as possible.
Caroline Bassett, Practice Manager at Coppull Medical Practice, said:
“We had worked with GP Surveyors for some years in respect of notional rent reviews and they had always provided excellent service.
“After speaking with James I was reassured that GP Surveyors would handle most of the negotiations and implementation which was extremely reassuring as I was unsure how to implement this without professional assistance. They also assured us they would obtain the best terms and conditions possible.
“GP Surveyors advised and supported me throughout the process and even afterwards. They were extremely easy to contact and always explained complex things in a simple way which was easy to understand.
“The pharmacy is benefiting our practice by holding the prescriptions out of hours so patients can collect them in the evening and at weekends, providing a more convenient service for patients. They are also assisting with the delivery of the influenza programme. It is convenient for patients and staff who need a prescription quickly, and patients can see a doctor and obtain their prescriptions without having to visit another establishment. Medicx is a very modern pharmacy which has given the surgery a more modern feel.”
In addition to the benefits outlined above, the inclusion of a pharmacy at Coppull Medical Practice has boosted their income and increased the Market Value of the premises.
James commented: “The decision to install a pharmacy into the surgery was a great move by Coppull Medical Practice as it has increased the Market Value of the premises by about 20%! This is a fantastic uplift which would make a huge difference should the GP partners ever decide to sell.”
“I can definitely recommend installing a pharmacy into your GP practice as it’s been very successful for us. I recommend using GP surveyors as it is a mine field and their experience was crucial. I also recommend Medicx Pharmacies as they have been excellent to work with from the very start.”
We hope our pharmacy implant case study Coppull Medical Practice, Lancashire, proved useful. To find out more about GP Surveyors service and contact the team visit our Pharmacy Implant page here.