Contest Provides Students With Invaluable Entrepreneurial Experience
Alexandria, Va. - August 2, 2011
Teams of pharmacy students from three universities have been named finalists in the Good Neighbor Pharmacy National Community Pharmacists Association's (NCPA) Pruitt-Schutte Student Business Plan Competition. The 2011 competition drew entries from 35 schools and colleges of pharmacy and included first-time submissions from seven schools and colleges of pharmacy. The finalists are from Idaho State University College of Pharmacy, University at Buffalo College of Pharmacy and Pharmaceutical Sciences, and University of Oklahoma College of Pharmacy.
"The growing interest in independent pharmacy among students is extremely exciting. It is encouraging to see so many pharmacy students with an interest in exploring entrepreneurial opportunities in pharmacy through the competition," says Robert J. Greenwood, PD, NCPA president and pharmacy owner in Waterloo, IA.
The Business Plan Competition is the first national competition of its kind in the pharmacy profession and is named to honor two great champions of independent community pharmacy, the late Neil Pruitt Sr. and the late H. Joseph Schutte. The goal of the competition is to motivate pharmacy students to create a business model for buying an existing independent community pharmacy or developing a new pharmacy. Through this competition, NCPA is better able to prepare tomorrow's pharmacy entrepreneurs for a successful future. The competition is supported by Good Neighbor Pharmacy, Pharmacists Mutual Companies, and the NCPA Foundation.
"We are proud to sponsor the Good Neighbor Pharmacy Pruitt-Schutte Student Business Plan Competition," said Steve Collis, president and CEO of AmerisourceBergen, whose Good Neighbor Pharmacy program is the primary sponsor of the competition. "It is a meaningful way to promote independent community pharmacy ownership. The business plan competition offers the type of constructive, real-world experience that will provide students with the confidence and knowledge to become successful pharmacy owners."
Team members and the advisor for the three finalist teams will receive complimentary registration, travel, and lodging to NCPA's 113th Annual Convention and Trade Exposition in Nashville, Tenn. Oct. 8-12, where they will compete for first, second, and third place in an exciting, live competition. After the presentations have been evaluated and scored, the following awards will be presented:
All participating schools receive a plaque commemorating their participation in the competition. Each year, competing schools receive an engraved plate to add to their plaque, and teams placing in the top 10 receive a special plate acknowledging this distinction. This year, there was a tie for tenth place. The remaining teams in the top ten, in alphabetical order, include Drake University College of Pharmacy and Health Sciences, Texas A&M Health Science Center College of Pharmacy, Thomas J. Long School of Pharmacy and Health Sciences at the University of the Pacific, University of California San Francisco School of Pharmacy, University of the Incarnate Word Feik School of Pharmacy, University of Kentucky College of Pharmacy, University of Texas at Austin College of Pharmacy, and Western University of Health Sciences College of Pharmacy.
New this year, NCPA is recognizing the time and effort invested to develop each and every business plan by providing all teams with the opportunity to present a poster outlining their plan at the NCPA Annual Meeting on Sunday, October 9. All conference attendees are invited to attend and exchange ideas and feedback with the teams regarding their innovative business models.
Judges for this year's written competition were Ravi Annamaneni, PharmD, Liscio Pharmacy; Brad Arthur, RPh, Black Rock Pharmacy; Shelley Bailey, RPh, Central Drugs; Jeff Carson, RPh, Oakdell Pharmacy; Brian Caswell, RPh, Wolkar Drug; Hugh Chancy, RPh, Chancy Drugs; Thomas Cory, RPh, Standard Pharmacy; Danny Cottrell, RPh, Medical Center Pharmacy; Diana Courtney, RPh, Lake Shore Pharmacy; David Creecy, RPh, Poquoson Pharmacy; Timothy Davis, RPh, Beaver HealthMart Pharmacy; Boyd Ennis, PharmD, Payless Drugs; Lisa Faast, RPh, Faast Pharmacy; Jennifer Fix, RPh, MBA, Jen Care Pharmacy; Cheri Garvin, RPh, Leesburg Pharmacy; Steve Giroux, RPh, NCPA Past President, Middleport Family Health Center; Jeff Harrell, PharmD, Peninsula Pharmacies; Kenny Harrison, PharmD, Cornerstone Pharmacy; Holly Henry, RPh, NCPA Past President, Rxtra Care Pharmacy; Jennifer Hughes, PharmD, Greenwood Drug; Joe Lech, RPh, Lech's Pharmacy; Sam Maddali, RPh, Valley Pharmacy; Nasir Mahmood, RPh, Pine Plains Pharmacy; Matt Mallinson, RPh, Matt's Medicine Store; Pam Marquess, PharmD, East Marietta Drug; Lonnie Meredith, RPh, The Drug Store; Mike Minesinger, RPh, Alwan Pharmacy; Hamid Mohaghegh, RPh, Family Pharmacy; Richard Moon, PharmD, Pharmacy Innovations; Joe Moose, PharmD, Moose Professional Pharmacy; Bill Osborn, PharmD, Osborn Drugs, Inc.; David Pope, RPh, Barney's Pharmacy; Kristen Riddle, PharmD, US Compounding Pharmacy; Beverly Schaefer, RPh, Katterman's Sand Point Pharmacy; Dave Smith, RPh, Means-Lauf Super Drug; Rick Steinhauser, PharmD, Merwin LTC Pharmacy, Justin Wilson, PharmD, Valu-Med Pharmacy.
The NCPA Foundation is a nonprofit 501(c)(3) organization established in 1953 to honor the previous incarnation of NCPA, the National Association of Retail Druggists' Executive Secretary John W. Dargavel. Contributions to the NCPA Foundation are tax-deductible as charitable donations to the extent permitted under federal tax law. The NCPA Foundation supports the growth and advancement of independent community pharmacy through low-interest educational loans and scholarships to pharmacy students in need, critical research and programs to improve the success of independent pharmacy, community service programs, and financial assistance to community pharmacy owners for their recovery in the event of disaster, accidents, illness, or adverse circumstances. To learn more go to www.ncpafoundation.org.
The National Community Pharmacists Association (NCPA®) represents the interests of America's community pharmacists, including the owners of more than 23,000 independent community pharmacies, pharmacy franchises, and chains. Together they represent a $93 billion health-care marketplace, have more than 315,000 employees including 62,400 pharmacists, and dispense over 41% of all retail prescriptions. To learn more go to www.ncpanet.org or read NCPA's blog, The Dose, at http://ncpanet.wordpress.com.
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