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Future perspectives of independent pharmacies in the Czech Republic - Comparative analysis of selected financial indicators of independent pharmacies

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  • Jaroslav Písek

Abstract

Objectives: To evaluate the performance of independent pharmacies in the Czech Republic based on analysis of the latest available financial data of the sample of pharmacies. Methods: The comparative analysis of pharmacies and their financial indicators in the period from 2013 to 2017 in a randomly selected sample. Results: Randomly selected sample includes nine micro-enterprises; one pharmacy operated in the commercial centre; a polyclinic pharmacy and eight community pharmacies. The company-specific table contains nineteen figures, seven ratios and three growth rates. Conclusion: A review of performance in the independent pharmacy segment based on financial results shows good financial status in most pharmacies examined. Seven companies in the sample have performed very well. Reducing personnel costs in the other two can achieve a balanced or profitable economy. Only one of the pharmacies is over-indebted and threatened by insolvency. The perspectives of operating independent pharmacies seem to be positive based on historical results and expected changes in the near future. Key words: Pharmacies, Financial management, Economic competition. JEL classification: G32, I11, M21, M41

Suggested Citation

  • Jaroslav Písek, 2020. "Future perspectives of independent pharmacies in the Czech Republic - Comparative analysis of selected financial indicators of independent pharmacies," Economics Working Papers 2020-01, University of South Bohemia in Ceske Budejovice, Faculty of Economics, revised 21 Feb 2020.
    • Handle: RePEc:boh:wpaper:01_2020
    DOI: 10.32725/ewp.2020.001
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    References listed on IDEAS

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    1. Vogler, Sabine & Habimana, Katharina & Arts, Danielle, 2014. "Does deregulation in community pharmacy impact accessibility of medicines, quality of pharmacy services and costs? Evidence from nine European countries," Health Policy, Elsevier, vol. 117(3), pages 311-327.
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    More about this item

    Keywords

    Pharmacies; Financial management; Economic competition;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • I11 - Health, Education, and Welfare - - Health - - - Analysis of Health Care Markets
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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