B.C. rolls out higher registration fees for pharmacy professionals and business owners

Pharmacy professionals and owners in British Columbia will soon be paying a little bit more for their practice and business licenses. Effective November 23, the College of Pharmacists of British Columbia will be charging just under 5% more for registration fees. This increase will “help to return college finances to a balanced budget and fully funded reserves, while enabling operations to meet the college’s mandate and staff to achieve the goals outlined in the strategic plan,” according to a release posted on the college’s website. Read: 'It's exciting': B.C. pharmacists' new prescription and injection powers begin For pharmacy owners, this change translates to a revised annual fee of $2,592 or a 4.75% increase from the current fee of $2,474. Pharmacists will see a 4.5% increase in their annual registration fee, to $846 from $809 while pharmacy technicians face a similar percentage increase, bringing their fees to $564 from $539. New fees will also apply for those seeking temporary registration, which currently has been free of charge. The college did not respond immediately to an inquiry from Pharmacy Practice + Business about the amount of the new temporary registration fees. Read: Lessons learned: Protect privacy, confidentiality of patients “Over the past year, where possible, college staff continued to reduce expenditures,” the college wrote in its release. “However, there are new activities, including strategic plan activities, investigating information system changes, and legal cases that require additional expenditures.” The college also highlighted the importance of reserve funds in enabling the college to address risks, in particular cybersecurity and legal risks. “At the same time, the college needs to continue to build up acceptable reserve balances as part of its multi-year budgeting process to ensure the college is financially secure and fiscally responsible,’ stated the release. Read: Profound results: Pharmacist, doc team up on virtual medication reviews to help seniors in rural B.C.

B.C. rolls out higher registration fees for pharmacy professionals and business owners

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