Calm The Pharm Podcast

In this episode of the Calm the Pharm podcast, hosted by Sarah Stoddart, the focus is on the critical aspects of expanding and contracting pharmacy premises, with a particular emphasis on the increasing trend of expansions in the pharmacy industry. With the movement towards a full scope of practice, many pharmacies are looking to increase their space to incorporate facilities such as consultation...

In this episode, host Sarah Stoddart continues her two-part series on Privacy Act obligations, focusing on practical steps that pharmacy owners can take to ensure compliance and mitigate risks. Building on the previously discussed legislation and pitfalls, Sarah introduces a five-step health check designed to help pharmacies manage their data collection and protection practices effectively. Throug...

Recent amendments to the Privacy Act require pharmacies to be more vigilant with patient data. Even a brief 10-second phone call, confirming Mrs Jones' date of birth or prescription details, can lead to a breach of privacy laws. In this episode, Sarah outlines the key changes to the legislation, which can be summarised into three categories: increased awareness and enforcement, tighter rules, and...

In this episode, host Sarah Stoddart discusses current challenges faced by pharmacists dealing with regulatory matters during pharmacy business transactions. She emphasises the importance of compliance and consistency in document submissions to federal and state regulators, which has become increasingly difficult due to heightened scrutiny and additional documentation requirements. She also speaks...

In this episode podcast, host Sarah Stoddart discusses the critical legal considerations involved in pharmacy business transactions, especially around contracts. She emphasises the significance of thoroughly reviewing contracts before signing, as many buyers and sellers often rush into agreements without a clear understanding of the implications. Sarah outlines three main areas that can significan...

In this episode, host Sarah Stoddart delves into the intricacies of lease assignment during the sale of a pharmacy business. Two critical documents in the assignment process are the sale contract and the existing lease. The sale contract will indicate the buyer’s preference for the lease assignment and any potential amendments. Meanwhile, the lease will contain a clause stipulating the conditions...

In this episode, host Sarah Stoddart delves into lease agreements, specifically exploring landlords' rights to increase rent and strategies for business owners to navigate potential unfair increases. Given the current cost of living crisis, understanding lease obligations has become increasingly vital for business owners. The foundational step in addressing any lease-related concerns is to locate...

In this episode, host Sarah Stoddart discusses the critical aspects of personal guarantees. Providing a personal guarantee is a significant financial decision that demands careful consideration of one’s financial responsibilities and risks. The implications of signing a guarantee can extend well beyond the immediate financial landscape; therefore, thorough evaluation and proactive management are p...

In this episode, host Sarah Stoddart delves into the critical subject of employee entitlements in the context of buying or selling a business, focusing particularly on the adjustments that need to be made during settlement. Employee entitlements often create confusion for both buyers and sellers, but understanding them is vital for a smooth transaction. Sarah begins by emphasising the importance o...

In this episode, host Sarah Stoddart provides an insightful overview of the regulatory landscape for pharmacy businesses in Australia, emphasising the distinctions between federal and state requirements. Acknowledging the complexity and heavy regulation of pharmacies, Stoddart begins by addressing the critical classification of pharmacies into approved and unapproved categories. Throughout the epi...

In this episode, host Sarah Stoddart delves into leasing, specifically focusing on the critical process of exercising options on leases for pharmacy businesses. Recognising that many clients are often confused about their lease options, Sarah emphasises the importance of understanding both the existence and the timing of option periods. Sarah provides a clear set of action items for tenants to pro...

In this episode, host Sarah Stoddart discusses the critical importance of stepping outside your pharmacy business to foster personal and professional growth. Broadcasted from a unique "red carpet campout" with fellow business leaders near Brisbane, Sarah emphasises the need for business owners to break free from the daily grind and routine, allowing time to reflect and innovate. The core message r...

In this episode of the "Calm the Pharm" podcast, host Sarah Stoddart explores the concept of service delivery through her experiences during a trip to Japan. She emphasises the importance of not just the transaction itself, but also how that transaction is presented and delivered to the customer. Drawing on her observations, Sarah provides insights that can help pharmacy businesses enhance their c...

In this episode of the Calm the Farm podcast, host Sarah Stoddart, fresh from a five-week trip to Japan, shares insights from her travels that translate into practical lessons for the pharmacy business. The core theme of this episode revolves around the importance of focusing on expertise to stand out in a competitive environment, drawing parallels between Japanese businesses and pharmacy practice...

In this episode of the Calm the Pharm podcast, host Sarah Stoddart discusses the concept of "Inbox Zero," inspired by Leanne Hughes , a podcast host, corporate speaker, workshop creator and thought leader. Leanne shared about cluttered inbox, revealing she had over 300 emails, which prompted Sarah to reflect on her own efficient email management practices. Sarah emphasises the importance of having...

In this episode of the Calm the Pharm podcast, host Sarah Stoddart delves into the complexities of managing staff during the sale of a pharmacy business. With a focus on legal obligations and practical strategies, this episode builds on our previous discussion about informing employees of a sale, guiding you through the necessary steps to ensure a smooth transition for both owners and staff. Sarah...

In this episode of the Calm the Pharm podcast, host Sarah Stoddart shares her frustrations regarding common issues in the pharmacy and legal professions, hoping to raise awareness and encourage better habits among listeners. She outlines six specific frustrations based on her experiences. In conclusion, Sarah invites listeners to reflect on their own professional frustrations and encourages feedba...

In this episode of the Calm the Pharm podcast, host Sarah Stoddart addresses the important topic of stocktakes in pharmacy businesses. She begins by emphasising the significance of clearly defining stock levels and their implications when entering into contracts. Additionally, the podcast discusses the consideration of expiry dates and high-cost items in the stock. Sarah highlights the necessity t...

In this episode of the Calm the Pharm podcast, your host Sarah Stoddart delves into the indispensable role of partnership agreements—often overlooked yet essential documents for business owners. Join Sarah as she explores the ramifications of proceeding without a formal partnership deed, explains why resolving partnership conflicts can be harder than ending a marriage and provides practical steps...

In this episode, we're diving into the intricate world of pharmacy applications under Rule 136 of the Pharmacy Location Rules. Whether you’re in the midst of an application or planning for the future, this episode is packed with valuable insights that could be the difference between approval and rejection. Hit play and equip yourself with the knowledge you need to navigate the complexities of the...

In this episode, we tackle a critical yet often challenging aspect of business sales: how to effectively inform employees about the transition. If you've ever sold a business or are contemplating it, this conversation is a must-listen. Join us as we highlight the intricate nuances of communicating a business sale to your team, helping you to navigate this sensitive time with confidence. Whether yo...

In this episode, we're joined by a seasoned regulatory lawyer who unravels the complexities of applying to the Australian Community Pharmacy Authority (ACPA) and securing Ministerial Discretion. If you're contemplating navigating these waters on your own, think again! Sarah shares invaluable insights that underscore the importance of professional assistance, revealing the costly pitfalls of DIY ap...

In this episode, Sarah discusses 3 common mistakes that buyers make when embarking on a pharmacy purchase - and they may surprise you! The good news is, they can easily be addressed by taking the right steps and talking to the right people. Tune in to learn more! Calm The Pharm is brought to you by your host, Sarah Stoddart. Sarah is the founder and director of Vitality Law Australia, a boutique l...

In this episode, Sarah answers a common question about when a pharmacy buyer will receive their PBS approval certificate after settlement. She also outlines how the certificate is sent and also what you need to provide to suppliers if there is an urgency to open supplier accounts before the certificate arrives. Sarah also touches on the process in QLD where there is currently no public register of...

In this episode, Sarah talks about the need to obtain regulatory approval when you change the name of your pharmacy business and what you need to do to complete that process. It's often overlooked but is a very important step! Tune in to learn more. Calm The Pharm is brought to you by your host, Sarah Stoddart. Sarah is the founder and director of Vitality Law Australia, a boutique law firm which...