A Letter to Registrants on Fee Increases
[Updated - March 03, 2023]
A commitment to good governance practices is, and always has been, at the core of what we do as the regulator of a self-governing profession. Good governance sometimes requires that difficult choices be made during difficult times. Over the course of 2022 and 2023, the local, provincial and national economies have been buffeted by inflationary winds and, like many organizations, the College of Pharmacists of British Columbia has not been immune to the pressures of rising costs. Inflation, restricted supply chains and an acute labour shortage have all had a significant effect on the College’s critical operations and financial bottom line in addition to unanticipated costs from government initiatives such as expanded scope and the upcoming implementation of the Health Professions and Occupations Act.
While the College has worked hard over the past few years to reduce its overhead costs and other expenditures, and to find savings to mitigate the impact of the pandemic and other factors, it cannot resist external factors beyond its control. The College, under direction from the Board, has done what it can including drawing on it’s limited contingency reserves.
With the health regulatory environment continuing to grow and become more complex, the College faces increasing cost pressures in order to continue to ensure that all British Columbians have access to safe, high-quality pharmacy care.
For the College to continue to fulfill its duty to protect the public and execute government initiatives in the years to come, the Board has approved a fee increase of 15% for Pharmacy Professionals and Pharmacies.
Pending approval by the BC Ministry of Health, the College expects the fee increases for pharmacy professionals and pharmacy licensure to come into effect in the latter half of this year.
Even with this increase, BC will continue to have more modest fees than other provinces in Canada. Below is a comparison between the approved fees and fees in other provinces.
The approved increases amount to approximately $127 per year more for pharmacists, and $85 more for pharmacy technicians. That’s about $10 and $7 more per month, respectively.
The College is not alone in revising fees for regulated professions. Several other health regulators have also needed to increase fees in response to rising inflation, as well as government initiatives.
The revenue generated by this fee increase will ensure that the College can continue its legislated mandate and essential operations, and take action on important strategic initiatives including:
- The implementation of regulatory programs that improve patient safety and culturally safe care;
- Developing standards and requirements for the implementation of Pharmacist Prescribing for Minor Ailments and Contraceptives and other future expanded scope initiatives; and
- Preparing for the significant implementation of the Health Professions and Occupations Act.
As registrants are aware, the College’s ongoing operations and planned initiatives are funded almost entirely through registrant and pharmacy licence fees. This is typical of a self-regulated profession and an audited breakdown of the College’s revenues and expenditures is available in our Annual Report.
The Board will continue to govern the profession in the best ways possible while supporting the College’s staff in their mission to protect the public.
On behalf of the Board,
Steven Hopp
Chair, Board
College of Pharmacists of British Columbia
Andrea Silver
Vice Chair, Board
College of Pharmacists of British Columbia
FAQs
What are the fees?
- Fees for Pharmacists will increase by $127. (15% increase, $973/year)
- Fees for Pharmacy Technicians will increase by $85. (15% increase, $649/year)
- All other administrative fees will also increase by 15%.
- Fees for Pharmacy renewal licences will be increasing by $389. (15% increase, $2,981/year)
- As part of its due diligence and background work, the College conducted an environmental scan of other Pharmacy Regulatory Authorities across the country and found that pharmacy professional fees in BC were among the most modest in Canada.
Why have fees increased?
- With the health regulatory environment continuing to grow and become more complex, the College faces increasing cost pressure in order continue to ensure that all British Columbians have access to safe, high-quality pharmacy care.
- In addition, like many businesses, inflation, restricted supply chains and an acute labour shortage have all had a significant effect on the College’s critical operations and financial bottom line.
- The College’s ongoing operations and planned initiatives are funded almost entirely through registrant and pharmacy licence fees. This is typical of a self-regulated profession.
- As such, the approved 15% fee increase will enable the College to continue to fulfill its duty to protect the public and execute government-mandated initiatives.
Where is this money going?
- The revenue generated by this fee increase will ensure that the College can continue its legislated mandate and essential operations, while maintaining a fiscally responsible reserve balance and taking action on important strategic initiatives including:
- The implementation of regulatory programs that improve patient safety;
- Developing standards and requirements for the implementation of Pharmacist Prescribing for Minor Ailments and Contraceptives and other expanded scope initiatives; and
- Preparing for the implementation of the Health Professions and Occupations Act and all the operational changes it entails, as directed by government.
- An audited breakdown of the College’s revenues and expenditures is available in our Annual Report.