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There are NO barriers to independent practice

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There are NO barriers to independent practice

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    Slide 2:There are NO barriers to independent practice August 27, 2007 Jackie Lopez, Pharm.D Associate Director of Management and Student Affairs

    Slide 3:About NCPA

    Founded in 1898 as the National Association of Retail Druggists (NARD) We are dedicated to the continuing growth and prosperity of independent community pharmacy in the United States We believe in the inherent virtues of the American free enterprise system We value the right to petition the appropriate legislative and regulatory bodies to serve the needs of those we represent Created the first pharmacy Political Action Committee (PAC).

    Slide 4: What do you picture when you think of independent community pharmacy?

    Slide 5:What is an independent pharmacy?

    Single-stores Independent chains pharmacist-owned, non-publicly traded Independent franchises Independent long-term care and home I.V. pharmacies Pharmacist-owned supermarket pharmacies

    Slide 6:NCPA-Pfizer Digest

    Provides financial and demographic data to community pharmacists about the $92 billion independent community pharmacy marketplace.

    Slide 7:2005

    $92 billion marketplace Dispense 1.5 billion prescriptions annually (42% of retail prescription marketplace) 92% of annual sales are Rx medicines Average independent pharmacy sales: $3.75 million (up 5% over 2004) Average prescription sales: $3.45 million (up 5% over 2004) Average number of prescriptions per pharmacy: 61,071 annually, 196 per day Source 2006 NCPA Pfizer Digest

    Slide 8:How do independents help people?

    Nutrition 88% Delivery 88% Patient Charge Accounts 84% DME 74% Compounding 68% Herbal Medicine 63% Health Screening 55% Ostomy 54% Assisted Living 53% Hospice 49% Source: 2006 NCPA Pfizer Digest

    Slide 9:Disease Management Services

    Independent pharmacies are the nations leaders in providing disease management services to patients with chronic health conditions such as diabetes, asthma, hypertension, and high cholesterol.

    Slide 10:Disease Management Services Offered

    Blood Pressure Monitoring 64% Diabetes Training 51% Lipid Monitoring 15% Osteoporosis 9% AIDS Services 4% Anticoagulation Monitoring 3% Source 2006 NCPA Pfizer Digest

    Slide 11:But Ive heard

    There arent any independents out there You have to have a lot of money to buy a pharmacy If you own a pharmacy, you spend all your time at the business (no family time)

    Slide 12:58.665 Pharmacy Outlets

    42% of the retail market place

    Slide 13:Where are all the independent pharmacies?

    Independent pharmacies in NE Chain pharmacies in NE All pharmacies in NE

    Slide 17:How do I buy a pharmacy with no money?

    Junior Partnership Use negotiated bonuses to build equity Reinvest share of profits to build more equity Requires little/no investment capital ESOP Employee Stock Ownership Program Incentive-based investment in business As the business grows, your equity grows Materials describing these methods of purchasing a pharmacy are available through NCPA. Materials describing these methods of purchasing a pharmacy are available through NCPA.

    Slide 18:No Family Time meet Sharlea Leatherwood

    Graduated in 1981 from University of Missouri-Kansas City and was the first female president of NCPA. Bought her first pharmacy the following May I found that I had more flexibility to be with my daughters as a single mom when I owned my pharmacy, I was a mother, girl scout leader, and PTA board member. I just got relief pharmacy coverage when I wanted to do something with my girls and the best thing I didnt have to justify that to anyone.

    Slide 19: What does it take to be an independent pharmacist?

    Entrepreneurial Skills Thinking Communication Technical Skills Human Relations Drive

    Slide 20:The benefits of ownership

    Flexible Management Structure No chain of command Job Satisfaction A good pharmacist is a happy pharmacist Patients like independents better Where everybody knows your name. Financial Rewards Control your own financial destiny Each of these points is covered in greater detail with the following slides Each of these points is covered in greater detail with the following slides

    Slide 21:Flexible Management Structure

    No chain of command Independent Pharmacy Chain Pharmacy Independent pharmacies have an innate ability to adapt to market changes quickly due to the management structure. Let's say you are a staff pharmacist at an independent pharmacist, if you want to change something you only have to go to one other person to reach the top of the ladder. And sometimes you are the owner, so you only have to ask yourself. But if you work for a chain pharmacy, you see that you have to get approval from several different people. These changes can be for anything from time off, work schedule & benefits to staffing issues and providing pharmacist care services. Independent pharmacies have an innate ability to adapt to market changes quickly due to the management structure. Let's say you are a staff pharmacist at an independent pharmacist, if you want to change something you only have to go to one other person to reach the top of the ladder. And sometimes you are the owner, so you only have to ask yourself. But if you work for a chain pharmacy, you see that you have to get approval from several different people. These changes can be for anything from time off, work schedule & benefits to staffing issues and providing pharmacist care services.

    Slide 22:Pharmacists Job Satisfaction

    Work-life perceptions percent that strongly agreed or agreed independent v. chain/supermarket Rewards for quality work 49% v. 18% Employer listens/acts on workload concerns 52% v. 21% Ability to take breaks when needed 78% v. 39% Time to keep up with current issues 41% v. 21% Career Satisfaction -Chain pharmacists indicated they were less likely to choose to become pharmacists again if given the choice The Journal of American Pharmaceutical Association published an article that showed independent pharmacists were more than twice as likely to agree with statements such as "being rewarded for quality work", "being able to take breaks when needed", and "having time to keep up with current issues". Let me ask you another question. How much is tuition? --- wait for reply --- After paying "ANSWER" for 4 years, do you want to be satisfied with your job? The Journal of American Pharmaceutical Association published an article that showed independent pharmacists were more than twice as likely to agree with statements such as "being rewarded for quality work", "being able to take breaks when needed", and "having time to keep up with current issues". Let me ask you another question. How much is tuition? --- wait for reply --- After paying "ANSWER" for 4 years, do you want to be satisfied with your job?

    Slide 23:Pharmacists Job Satisfaction

    Independent pharmacists 76% Supermarket pharmacists 69% Hospital pharmacists 63% Chain pharmacists 59% Mass-merchandiser pharmacists 51% National Pharmacist Workforce Study, March 2006 Chain pharmacist with less than 11 years experience indicated they would not choose to pursue pharmacy again if given the choice. Independent pharmacists were half as likely to agree. In fact independent pharmacists by far have the highest job satisfaction compared to all other pharmacy environments. Chain pharmacist with less than 11 years experience indicated they would not choose to pursue pharmacy again if given the choice. Independent pharmacists were half as likely to agree. In fact independent pharmacists by far have the highest job satisfaction compared to all other pharmacy environments.

    Slide 24:Patients Like Independents

    October 2003 issue of Consumer Reports recommends: If youre among the 47 percent of Americans who get medicine from drugstore giants such as CVS, Eckerd, and Rite Aid, heres a prescription: Try shopping somewhere else. The best place to start looking is one of the 25,000 independent pharmacies that are making a comeback. 32,000 readers rated independents better than chain pharmacies Customer Service Price Speed of filling Rx In an article in the October issue of Consumer Reports, 32,000 readers rated independent community pharmacies as better than chain pharmacies. The article advises: If youre among the 47 percent of Americans who get medicine from drugstore giants such as CVS, Eckerd, and Rite Aid, heres a prescription: Try shopping somewhere else. The best place to start looking is one of the 25,000 independent pharmacies that are making a comeback. As patients realize that their copayments are the same regardless of the type of participating pharmacy, they are noticing that independent operations are more likely to have fast service and helpful pharmacists, The article notes that at independent pharmacies, more than 85% of consumers were very or completely satisfied, compared with 58% of those who frequented chain pharmacy operations. Describing chains as convenient but crowded, the article emphasizes the importance of prescription medications and pharmacists services to independent pharmacies: Prescription drugs are the independents lifeblood, accounting for 88 percent of sales. That means independents can be a good source of hard-to-find medications. (The chains, where drugs account for 64 percent of sales, tend to focus on the 200 most-prescribed drugs.)... "The independents (and some chains) offer extras such as disease-management education, in-store health screenings for cholesterol, services such as compounding (customizing medications for patients with special needs), and home delivery. In an article in the October issue of Consumer Reports, 32,000 readers rated independent community pharmacies as better than chain pharmacies. The article advises: If youre among the 47 percent of Americans who get medicine from drugstore giants such as CVS, Eckerd, and Rite Aid, heres a prescription: Try shopping somewhere else. The best place to start looking is one of the 25,000 independent pharmacies that are making a comeback. As patients realize that their copayments are the same regardless of the type of participating pharmacy, they are noticing that independent operations are more likely to have fast service and helpful pharmacists, The article notes that at independent pharmacies, more than 85% of consumers were very or completely satisfied, compared with 58% of those who frequented chain pharmacy operations. Describing chains as convenient but crowded, the article emphasizes the importance of prescription medications and pharmacists services to independent pharmacies: Prescription drugs are the independents lifeblood, accounting for 88 percent of sales. That means independents can be a good source of hard-to-find medications. (The chains, where drugs account for 64 percent of sales, tend to focus on the 200 most-prescribed drugs.)... "The independents (and some chains) offer extras such as disease-management education, in-store health screenings for cholesterol, services such as compounding (customizing medications for patients with special needs), and home delivery.

    Slide 25:I chose a career in pharmacy for the money!!!

    Slide 26: How does a salary compare for a pharmacy owner?

    Chain staff pharmacist salary $90,000 Flat income scale Retirement plan 401(k) tied to company stock performance Average independent pharmacy sales $3.75 million sales Owner Salary $139.434 Net Income $128,968 Source: 2006 NCPA Pfizer Digest TOTAL COMPENSATION = $268,402

    Slide 27:What does NCPA do for pharmacy students?

    Membership only $25/year, join at www.ncpanet.org Scholarships and Loans from NCPA Foundation Subscription to Americas Pharmacist Discount on Effective Pharmacy Management CD-Rom Rotation in Association Management

    Slide 28:Meetings and Conventions

    NCPAs Legislative Conference May 2007 in Washington D.C. Free registration for NCPA student members Join fellow pharmacy colleagues in lobbying your legislators on Capitol Hill on issues that are affecting pharmacy

    Slide 29:Meetings and Conventions

    Annual Convention Anaheim, CA - October 13-17 2007 Discounted registration for NCPA student members Student programming Saturday and Sunday Saturday Student specific educational sessions Live Business Plan Competition Opening Party Sunday NCPA Foundation Student Awards Ceremony Opening General Session Tampa, FL, Oct. 2008

    NCPA Pruitt-Schutte Student Business Plan Competition Sponsored by Mallinckrodt and the NCPA Foundation Neil Pruitt, Sr. H. Joseph Schutte NCPA Pruitt-Schutte Student Business Plan Competition Sponsored by Mallinckrodt and the NCPA Foundation Develop a business plan that describes either the opening of a new pharmacy or the purchase of an existing pharmacy. Teams must involve pharmacy students, all of whom must be active NCPA student members. Each team must have one team advisor that is a pharmacist member of NCPA or who is a full-time faculty member at the pharmacy school. One application per school Guidelines for written competition at www.ncpanet.org Three finalists will be chosen to compete live at the NCPA annual convention in Las Vegas. First prize: $3000 to NCPA chapter $3000 to school in Deans name Free trip to Multiple Locations Conference Deadline for the written plan is May 1

    Slide 32:Pharm.D.2B PCCA PACK

    Optional subscription Annual Fee: $12.50 Annual subscription to PCCA PACK online information, programs & services View list at www.pceutics.com NCPA priority placement in Laboratory Boot Camp sessions NCPA priority enrollment in advanced online and laboratory courses

    Slide 33:National Leadership Opportunities

    National Student President (SLC member) STUDENT LEADERSHIP COUNCIL (8 positions) Secretary (SLC member) President-Elect (SRC member) STUDENT REGIONAL COUNCIL (8 positions) STUDENT LEADERSHIP COUNCIL (8 positions)

    Slide 34:Duties and Benefits of the SLC and SRC

    Help and visit other NCPA chapters Develop new programs for NCPA chapters Meet pharmacy students and pharmacy owners from across the country Receive travel expenses for all NCPA related travel Member of an NCPA Steering Committee National Student President and Secretary have one vote each in the NCPA House of Delegates Deadline for application is mid-January

    Slide 35:NCPAs Executive Residency

    Improve your executive leadership skills rotating through NCPA departments National Institute for Pharmacist Care Outcomes, Management Institute, Student Affairs, Convention and Meetings, Communications Benefits of the Executive Residency Annual stipend as well as relocation assistance, full benefits (15 days vacation, government holidays, health/dental insurance, life and disability insurance and eligibility for a 401(k) retirement savings plan Deadline for application is mid-January

    Slide 36:What resources does NCPA have?

    Virtual Mentors for Pharmacy Ownership Pharmacist E-Link Ownership Tools

    Slide 38:Virtual Mentors for Pharmacy Ownership

    www.ncpanet.org in Student section Frequently Asked Questions in 3 areas Business Setup Financial Issues Operational Issues Answers developed by members of NCPAs Committee on Management Ask a question NCPA members can ask an unlimited number of questions!

    Slide 40:Pharmacist E-Link

    www.pharmacistelink.com New Product News Business Corner Financial Tools and Calculators Rx Pricing Insights Independent Pharmacy Matching Service OTC Product News Weekly Newsletters Legislative Action Center Get involved!

    Slide 41:Ownership Tools

    www.ncpanet.org Pharmacy Ownership and Management Articles about ESOP and Junior Partnership Evaluating the price of a pharmacy Sample business plans Articles on how to position yourself to buy a pharmacy

    Slide 42: Take control of your career by becoming an independent community pharmacy owner!

    Slide 43:Getting Started

    Contact the NCPA Student Affairs Division www.ncpanet.org, Join NCPA, Student Affairs Contact NCPA Faculty Liaison Organizational Meetings Become a university recognized organization Discuss goals, mission, governing principles Promotion Hold first Chapter meeting Officer nominations and elections Constitution approval Goals and Projects discussion

    Slide 44:Chapter of the Year

    Neighborhood Community Service (15%) Creating Members (15%) Promoting Independent Pharmacy (30%) Advocating Legislative Action (30%) Fundraisers and Miscellaneous (5%) Mid-year report, due January 31 (5%) End of Year report, due May 31

    Slide 45:THANK YOU!

    Jackie Lopez, Pharm.D National Community Pharmacists Association Associate Director of Management and Student Affairs Jackie.lopez@ncpanet.org

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