CIQHC701 - Compounding Pharmacy in United Arab Emirates

Running head: COMPOUNDING PHARMACY IN UNITED ARAB EMIRATES- A
BUSINESS PLAN OF AL-SHAFAA PHARMACY
Compounding Pharmacy in United Arab Emirates- A business plan of Al-Shafaa Pharmacy
Name of the Student:
Name of the University:
Author Note:

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COMPOUNDING PHARMACY IN UNITED ARAB EMIRATES- A BUSINESS PLAN OF
AL-SHAFAA PHARMACY
Table of Contents
Introduction......................................................................................................................................2
Determining the problem.................................................................................................................3
Objectives........................................................................................................................................5
Scope and target groups...................................................................................................................5
Strategic alignment..........................................................................................................................8
Major tasks and work breakdown....................................................................................................8
Management design.......................................................................................................................11
Structure of organization-..............................................................................................................11
Pharmacy workflow:......................................................................................................................15
Clinical governance:......................................................................................................................15
Resources.......................................................................................................................................16
Installation of software:.................................................................................................................17
Physical resources:.........................................................................................................................17
Financial resources:.......................................................................................................................18
Budget............................................................................................................................................18
Projected Income Statement of Al-Shafaa Pharmacy................................................................18
Projected Cash Flow Statement of Al-Shafaa Pharmacy..........................................................21

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COMPOUNDING PHARMACY IN UNITED ARAB EMIRATES- A BUSINESS PLAN OF
AL-SHAFAA PHARMACY
Balance Sheet of Al-Shafaa Pharmacy......................................................................................24
Monitoring and control..................................................................................................................27
Future vision..................................................................................................................................29
Reference List................................................................................................................................30

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COMPOUNDING PHARMACY IN UNITED ARAB EMIRATES- A BUSINESS PLAN OF
AL-SHAFAA PHARMACY
Introduction
Opening a compounding pharmacy in United Arab Emirates will be my dream project.
The reason why I have selected compounded pharmacy as my dream project is that I have been
working in different pharmacies where I learned about preparing personalized medications for
patients.
The main goal of Al-Shafaa Pharmacy is to provide prescription medications for the
customers at competitive prices in the UAE market (Zur, Farhi and Elisha 2016). The start-up
compounding pharmacy will be able to sell prescriptions at competitive prices by carefully
maintaining efficiencies in the operations as well as targeting a specific segment in the market
where the customers pay for the prescription medicines themselves. The business plan need to
focus mainly on the segment that provides additional efficiencies to avoid any disruptions in cash
flows that is often associated with the insurance payments as well as eliminating any unnecessary
services for the type of knowledgeable and repeat customers by taking maintenance type
medication.
Al-Shafaa Pharmacy will operate from one store that will serve both mail order
customers as well as person visiting the store physically. The pharmacy will be employing
friendly as well as knowledgeable personnel by paying them great prices. The pharmacy will
drive for repeat business for generating profit in the near future. Al-Shafaa Pharmacy will focus
mainly on providing value and convenience to the customers (Young 2014.).

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COMPOUNDING PHARMACY IN UNITED ARAB EMIRATES- A BUSINESS PLAN OF
AL-SHAFAA PHARMACY
Advertising will be done through ads in magazines, newspapers, television ads that
targets age group of more than 55 years. This age group will be targeted who are looking to save
money on a pricey but necessary and regular expense. The management structure of Al-Shafaa
Pharmacy will have experience people who had worked in the pharmaceutical industry. At Al-
Shafaa Pharmacy, cost will be minimized by maintaining only one pharmacist as well as filling
the void with pharmaceutical techs. The compounding pharmacy expects to reach profitability by
the second years and will be generating substantial sale by third year (Webster 2015).
Determining the problem
In the United Arab Emirates, the healthcare industry has witnessed an extended period of
high growth that forecast to continue and driven by gap between supply as well as demand.
Healthcare industry has proven as one of the most resilient sectors in United Arab Emirates
despite of current economic downturn (van Oosten et al. 2013). By 2021, healthcare industry in
United Arab Emirates will be investing continuously for building word-class healthcare
infrastructure, services as well as expertise for fulfilling growing needs and expectations of
citizens.
The healthcare structure in the United Arab Emirates is different from other neighbors to
that of Abu Dhabi and Dubai as they have their own healthcare regulators (Sweaney et al. 2014).
There are main four regulators in the United Arab Emirates and these are as follows:
Dubai Healthcare City Free Zone
Health Authority Abu Dhabi

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COMPOUNDING PHARMACY IN UNITED ARAB EMIRATES- A BUSINESS PLAN OF
AL-SHAFAA PHARMACY
The Ministry of Health
Dubai Health Authority
Here, each single entity has responsibility for facilities as well as licensing of doctors and
nurses and market regulation within its jurisdiction. In addition, the Ministry of Health is one
of the regulatory bodies that plays main role for providing healthcare but it is not the sole
actor in the UAE healthcare system (Stanley, Moffitt and Wiebe 2017).
The strengths of healthcare industry in United Arab Emirates depend upon its culture as
they are ready to adopt new ideas as well as offer fertile ground to them to grow into tangible
outcomes. UAE welcomes innovations as well as implements it at faster pace. The
population of United Arab Emirates is small enough to manage healthcare innovation but big
enough to see results. Due to this reason, it is possible to build rich databases. UAE is a
country that is a place where it is possible to close the loop for capturing detailed personal
information from birth. In addition, individuals actually trust the government with their data.
Due to that, the lifetime cost of healthcare give rise to no fear of exclusion by the government
sponsors (Shaya et al. 2014). The main advantage is the willingness to share data at the time
of implementing innovative health projects in United Arab Emirates
The main weakness in the Arab region is its resources, both in terms of tangible and
intangible capital. In the year 2014, United Arab Emirates spent 0.7% of GDP on research
and development. In addition, the rate is actually more than 0.2% average where Arab
countries spend on scientific research as well as discovery. The goal of United Arab Emirates
is to increase the research and development activities spending to 1.5% of GDO by the year

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COMPOUNDING PHARMACY IN UNITED ARAB EMIRATES- A BUSINESS PLAN OF
AL-SHAFAA PHARMACY
2021. The human capital that is needed for healthcare innovation is limited. There is vast
majority of healthcare workers who are sourced from East Asia. Enough time is not there for
research among healthcare professionals. There is shortage of locally trained human capital
and that is the main cause of concern (Shaya et al. 2016).
Objectives
The mission statement of Al-Shafaa Pharmacy is to provide customers with the best
prices for their prescription medications. In addition the convenience and services will exceed
the expectation of the customers (Rodis et al. 2015). Al-Shafaa Pharmacy is located in South-
east Dubai and offers prescription medications at discounted prices to the customers by mail
order to at the store front.
To exceed customer’s expectations with superior pricing
To Develop a business that survives off its own cash flow
Increasing the number of customers by more than 30% per year
To satisfy customers so that they will return again and again
To maintain low overhead and operating costs
To provide better process than other competitors
Scope and target groups
Al-Shafaa Pharmacy will be targeting patients who will be most profitable for the
compounding pharmacy. In addition, marketing takes lot of time and effort. Fast quality service
as well as competitive pricing is the main two marketing strategy that will be adopted by Al-

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COMPOUNDING PHARMACY IN UNITED ARAB EMIRATES- A BUSINESS PLAN OF
AL-SHAFAA PHARMACY
Shafaa Pharmacy. The target audience of Al-Shafaa Pharmacy will be patient who will ask for
compounding script anywhere in United Arab Emirates who looks for compounding pharmacy.
It is essential for Al-Shafaa Pharmacy to provide high quality product at reasonable price. In
compounding sector of pharmacy, there is not much loyalty as well as what the customers do not
like about current pharmacy will vary and some will be pricing others based on wait time and
receiving the product on time (Rodis et al. 2015).
The scope of compounding pharmacy is huge and need discussion in this business plan.
Allowing access to discontinued medications- It is important to understand the fact that
compounding pharmacists plays major role in rendering access to discontinued
medications by recreating pharmaceutical based ingredients that ensure patients will get
the critical care that they actually need. Recently, compounding pharmacies has the
access to the highest quality pharmaceutical ingredients as well as fill the prescription by
using the latest research and quality process that will guide in meeting the individual
patient needs (Moore 2014).
Making medication easier to use- It is noted that patients need their medication in a
various stage form from time to time. For example, patients who are facing difficulty in
swallowing a pill may find it easier to take their medication in a flavored liquid form. In
addition, some of the medication can be even compounded in a topical form such as
cream or gel that allows the medicine to be absorbed into the bloodstream through the
skin. Therefore, a compounding pharmacist offers these products in different dosage
forms based on the best method of compliance for the patient (Moehring et al. 2014).