If a pharmacist is out due to illness, vacation or other reasons, production slows down and others in the practice will need to either cover for the absent individual, or operations will need to stop altogether, if there are no other active pharmacists on hand to keep things running.  

In the latter situation, a pharmacy will lose money due to its commitment to pay the salary of other employees in the organization, such as general managers and store assistants who may be left idle while there are no active pharmacists on hand. 

For these reasons and more, pharmacist locum insurance is a vital cover for all pharmacies. But let’s explore some more of the costs, benefits, and consequences of taking out a locum insurance policy for your pharmacy. 

Key Benefits of Locum Insurance for Pharmacists

• Continuation of operations despite absences of key individuals
• Higher patient satisfaction levels
• Less strain on other staff who might have to take on a greater workload without locum support
• Peace of mind that you can keep the business running smoothly

How Does it Work?

When hiring locum tenens, there are generally two methods you can choose. The first is working with a staffing agency and paying on a per day model, where the locum is paid a daily rate for offering their service as a temporary employee within the pharmacy. 

This rate can vary considerably depending on experience and location, but working through an agency will help you to standardise the costs based on current market prices. 

Alternatively, you can work directly with an individual locum and arrange a specific day rate with them. Again, this can vary and will cost more or less depending on the experience and skills of the individual locum. 

Prior to the temporary pharmacist’s arrival, an arrangement will usually be agreed between the manager of the pharmacy and either the locum agency or the locum themselves. This will stipulate the remuneration benefits, job requirements, and the individual’s professional capabilities and records. 

During this time your pharmacy should determine whether the individual is proficient enough in the necessary procedures and activities that they will need to complete, and clearly outline the daily and weekly expectations of the job. This is also a good time to review inventory, internal processes, work schedules and office culture so that integration is smooth. 

Who Is Locum Insurance For?

Locum Insurance is available for many medical professions, including pharmacists.

• Pharmacists
• GPs
• Dentists
• Practice managers
• Opticians
• Nurse practitioners
• Practice nurses
• Physician’s assistants

If you want to learn whether you can take out a locum policy for your practice or pharmacy, get in touch with us at Approachable Locum Insurance. 

Expense Insurance for Pharmacies

Expense insurance is a form of commercial insurance that pays for a policyholder’s additional costs while recovering from a major disruption. In addition to locum insurance, it is another vital policy cover that can help your pharmacy to keep running smoothly during times of disruption or change.

For example, when a business is forced to close temporarily, this insurance will apply to the period until operations are restored to normal, and can help cover the cost of missed appointments, treatments and patient-focused activities. 

In a similar way to locum insurance, expense insurance is designed to help a business with any expenses that it might incur while its normal business operations are disrupted. These expenses are often excluded from other types of insurance policies, so it is worth considering when building the perfect insurance package for your pharmacy. 

Who Can Benefit From Expense Insurance?

Many pharmacies can benefit from having expense insurance, but this coverage is especially helpful for pharmacies that fit into the below categories: 

• The pharmacy cannot shut down because the service it provides is essential to the community. 
• The organization needs to continue providing high levels of care to its patients and customers, regardless of any disruptions that might take place. 

Building the Perfect Policy for your Pharmacy Every pharmacy is different, but all are important to the community. To keep you operating efficiently and delivering a great service to those who need it, get in touch with us at Approachable Locum Insurance and we’ll happily help you to find the perfect policy.