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The average US residency graduate has accumulated $250k in debt from their medical education. Suffice to say, a high student loan burden is a near certainty for almost all who take the road of a physician. In this post Dr. Laura Gilroy outlines the established methods for resolving medical education debt.

Becoming a pharmacist is a rewarding and fulfilling career path. Still, many aspiring pharmacists graduate with substantial student loan debt, which can be daunting to manage while starting their careers. However, various pharmacist loan forgiveness programs can ease this financial burden and pave the way to debt-free living. This article will explore six pharmacist loan forgiveness programs that can help pharmacists achieve financial freedom. Public Service Loan Forgiveness (PSLF) According to Bankrate, the Public Service Loan Forgiveness (PSLF) program is a federal program designed to forgive the remaining balance on federal Direct Loans after 120 qualifying monthly payments while working full-time for a qualifying employer. Pharmacists who work for non-profit organizations, government agencies, or public health organizations may be eligible for this program. Health Professional Shortage Areas (HPSAs) Loan Repayment Program The Health Professional Shortage Areas (HPSAs) Loan Repayment Program encourages healthcare professionals, including pharmacists, to work in areas with a shortage of healthcare providers. Pharmacists who commit to working in designated HPSAs for a specified period can receive loan repayment assistance.

Professor Harry McQuillan has said community pharmacists in the UK must change their focus from an 'accuracy of supply' to a 'safety of supply' model when it comes to dealing with patients. "The main take away message from tonight's lecture is for pharmacy professionals to really challenge themselves about whether they are focused on accuracy of supply or safety of supply," he said at this year's UCL School of Pharmacy Lecture in London on Thursday, 15 June. "For our community pharmacists it must be about safety, including prescribing, and ensuring patients and citizens get the maximum benefit from prescribed medicines. "To deliver this, we need to invest in our teams - harness technology and always be willing to take the next step in a more clinical future." The Chief Executive Office of Community Pharmacy Scotland, however, noted that at a time when the UK was grappling with an unprecedented national debt crisis exacerbated by severe cost of living and spiraling inflation, community pharmacy will need to make a "compelling case" of where the priority should be in the sector. Expanding on the financial woes of the country, he compared the current national debt of the UK, which stood at a staggering 270 percent of GDP in September 2022, with the previous record-breaking national debt of 250 per cent at the end of WWII.

Consumer healthcare group Haleon on Thursday announced that it has entered into a binding agreement for the sale of the ChapStick brand to Suave Brands Company, a company owned by American private equity firm Yellow Wood Partners. The British consumer healthcare company has agreed to sell its lip balm brand to Suave for about $430 million in cash and a minority interest in the buyer, valued at around $80 million. Haleon, which was spun off from the GSK Group in July 2022, said that cash proceeds from the sale would be used to pay down debt. ChapStick generated £112 million ($142.5 million) in revenue in 2023, said Haleon, adding that the sale is likely to close in the second quarter of 2024. Brian McNamara, Chief Executive Officer, Haleon, said: "Today's announcement is consistent with Haleon being proactive in managing our portfolio, and being rigorous and disciplined where there are opportunities for divestment. "While ChapStick is a great brand, much loved by consumers around the world, it is not a core focus for Haleon.

A Nottingham-based pharmacist has been struck off the General Pharmaceutical Council (GPhC) register for bringing "the profession into to disrepute" by stealing hundreds of thousands of pounds in a bid to settle his gambling debt. Peter Sameh Saad (33) spun a web of lies and duped a friend out of more than half a million pounds to fund his addiction and pretended he had "serious if not terminal" testicular cancer. "It is difficult to imagine a more heinous fraud than one predicated on feigning a cancer diagnosis", a GPC panel ruled. Saad committed three frauds on a total of £536,689.95 between September 2018 and May 2019. First, he tricked a friend, whom he knew through his local church, into sending him around £288,200 by claiming that his newly-purchased pharmacy in US was "seized" by the authorities over visa issues and that he "had some difficulty making the mortgage payments". Later Saad conned the same friend, named only as 'Person A' in court documents, into sending him a total of £127,150 by lying about a non-existent cancer diagnosis and private treatment. Finally, he extracted a further £121,339.95 from an investments and credit group (named Company A) of which his friend was chief executive after inviting him to set up a 'pharmaceutical warehouse', a plan that "impressed Person A and he agreed to invest in the business."

Digital pharmacy app Charac has raised over £1 million in debt and equity, bringing total funding to date for the London-based startup to £2.5m. Pharmacy Business understands while the majority of the new finance, worth about £1.2 million, comes from the National Pharmacy Association (NPA) coffer, the remainder is put forward by a number of individual pharmacy businesses. The pharmacy sector is in a state of crisis, experiencing nearly two closures per week over the past two years, Charac said in a statement. According to data from the NHS Business Services Authority, there are now only 11,026 community pharmacies in England, the lowest number since 2015. The current crisis is attributed to escalating operational costs, a shortage of staff, and diminished government financial support.

Steve Rector is the CEO of Corizon Health. He was brought on board after a 2017 corporate reorganization resulted in new investors and a new board of directors, including - for the very first time - three independent board members and a significant decrease in corporate debt.

As the need for physicians around the country rises and physicians struggle to shoulder an increasing mountain of student debt while maintaining a semblance of work-life balance, locums has become a viable route for success.

After a year-long divestment spree, LloydsPharmacy has entered into liquidation and appointed Turpin Barker Armstrong Accountants to handle the process. In its statement of affairs report, the liquidators confirmed that the pharmacy group owes £293m to 514 creditors. This includes £228m owed to the group's former owner Admenta UK and £50m to Aurelius Crocodile - a holding company that was used to control the pharmacy business. However, creditors are set to lose out on approximately £255m as only about £8.2m can be recovered for preferential creditors and £800,000 for its unsecured creditors, the liquidators said. The healthcare chain was acquired by Aurelius when the investment firm took over its parent company, McKesson UK in 2022 for £477m.