Nashville, TN (Oct. 10, 2011) -
A team of pharmacy students from Idaho State University College of Pharmacy was named the winner of the 2011 Good Neighbor Pharmacy National Community Pharmacists Association (NCPA) Pruitt-Schutte Student Business Plan Competition. A team from the University of Oklahoma College of Pharmacy came in second, and a team representing the University at Buffalo School of Pharmacy and Pharmaceutical Sciences finished third.
"If the 35 teams who participated in the 2011 Good Neighbor Pharmacy NCPA Pruitt-Schutte Student Business Plan Competition are representative of the type of people who will become independent community pharmacy owners, then the future is secure," said Robert Greenwood, PD, NCPA President and pharmacy owner in Waterloo, Iowa. "By creating detailed plans that are carefully scrutinized by a panel of pharmacy experts, these students are getting the type of 'dry run' that every small business owner would love to have. But in every competition special recognition must be bestowed upon the most outstanding participants. That is why we would like to congratulate the 2011 winner, Idaho State University; the first runner-up, the University of Oklahoma; and the third place finisher, the University at Buffalo."
The 2011 competition drew entries from 35 schools and colleges of pharmacy, which ties the previous record, and seven schools and colleges of pharmacy submitted a plan for the first time. This is the first national competition of its kind in the pharmacy profession and started eight years ago. The contest 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.
The three finalist teams and advisors made live presentations of their business plans before the competition judges and an audience during the annual convention after receiving complimentary registration, travel, and lodging. Greenwood announced the results of the competition during the Opening General Session of the NCPA 113th Annual Convention and Trade Exposition held October 8-12 at the Gaylord Opryland Resort & Convention Center in Nashville. The teams were honored at the NCPA Foundation's Award Ceremony.
"The NCPA Foundation's primary objective is to serve as the bridge connecting independent community pharmacies owners of the past, present and future," said Sharlea Leatherwood, PD, NCPA Foundation President. "The Good Neighbor Pharmacy NCPA Pruitt-Schutte Student Business Plan Competition is our premier program because it provides students with the type of crucial learning experience that will take the guesswork out of taking the plunge into ownership in the future. And if the past competitions are predictive of the future, then many of this year's participants will either buy or open brand-new independent community pharmacies in the coming years."
Team members from Idaho State University were team captain Alan Pannier, and members Nick Beebe, Wesston Faux and Tyler Hemsley. Kerry L. Casperson, RPh, PhD was the team advisor. Their chapter received $3,000 and $3,000 was contributed to the school in the dean's name to promote independent pharmacy. The team members, team advisor, and the dean will also receive complimentary registration, travel, and lodging to NCPA's 2012 Multiple Locations Conference.
Team members from University of Oklahoma were team captain Brittain Manchester, and members Tara Hutchinson, Cale Leeper, and Caleb Reaber, Eric Johnson, MBA, MS, CPA, was the team advisor. Their chapter received $2,000 and $2,000 was contributed to the school in the dean's name to promote independent pharmacy.
Team members from the University at Buffalo were team captain Clare Carroll, and members Chris Daly and Christopher Diehl. Karl D. Fiebelkorn, MBA, RPh, AE-C was the team advisor. Their chapter received $1,000 and $1,000 was contributed to the school in the dean's name to promote independent pharmacy.
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 recognized 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 Convention. All convention attendees were 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 judges for this year's live competition were:Holly Henry, RPh, NCPA Past President; Sharlea M. Leatherwood, PD, NCPA Foundation President; Mike Quick, National Vice President Good Neighbor Pharmacy Development; Chad Reed, Loan Officer, Live Oak Bank; Ed Berg, MBA, CPA, CPCU, President & CEO, Pharmacists Mutual Insurance Companies; Dan Strause, Co-Founder of Community Pharmacy Financial LLC.
The NCPA Foundation is a nonprofit 501(c)(3) organization established in 1953 to honor former NARD Executive Secretary John W. Dargavel. Contributions to the NCPA Foundation are tax-deductible to the extent permitted under federal tax law. The 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, 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. Together they represent a $93 billion health care marketplace, dispense over 37% of all retail prescriptions, and employ more than 315,000 people, including 62,400 pharmacists. Independent community pharmacists are readily accessible medication experts who can help lower health care spending. They are committed to maximizing the appropriate use of lower-cost generic drugs and reducing the estimated $290 billion that is wasted annually by improper medication use. To learn more go to www.ncpanet.org or read NCPA's blog, The Dose, at http://ncpanet.wordpress.com.
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