Pharmacy Ownership Workshop to be Held in Atlanta February 4-6


Alexandria, Va. (January 19, 2011)

Limited spaces are available for the National Community Pharmacists Association's (NCPA) Pharmacy Ownership Workshop, sponsored by McKesson, from Feb. 4-6 at the Westin Atlanta Airport in Atlanta, Ga. The three-day session offers 19.25 hours of continuing education credits for pharmacists seeking to purchase an existing store or open up a new one, or for existing owners to polish up important management skills.

This is the program's first of three offerings in 2011. Launched in 1991, it is part of the multi-faceted, comprehensive NCPA Ownership Academy, which helps pharmacists navigate every step of the entrepreneurial process from buying to selling a pharmacy, as part of the association's focus on increasing the number of independent community pharmacy owners throughout the country.

"For many practicing pharmacists and pharmacy students looking into pharmacy ownership, their unfamiliarity with the process often prevents them from taking the plunge," said Robert J. Greenwood RPh, NCPA president and pharmacy owner in Waterloo, Iowa. NCPA's Pharmacy Ownership Workshop provides all the tools necessary to help participants become successful independent community pharmacy owners."

Greenwood added, "Independent community pharmacy owners pride themselves on the personal touch they provide patients in achieving the best possible health outcomes. NCPA's Pharmacy Ownership Workshop is our way of providing prospective owners with the personal touch they need to get to their desired outcome."

The topics covered in the program include:

  • Developing and Maintaining a Successful Pharmacy Practice
  • Creating a Successful Pharmacy Business Plan
  • Planning for Successful Growth
  • Business Owner Roles, Responsibilities, and Management Styles
  • Comprehensive Business Start up Checklist
  • Financial Planning for a Successful Practice
  • Understanding the Loan Approval Process
  • Determining Your Pharmacy's Financing Needs
  • How to Market Your Pharmacy Practice
  • Assessing Technology Needs for the Pharmacy
  • Legal and Accounting Advice for the Beginning Owner
  • Business Experiences of an Owner/Past Workshop Grad

A wide variety of experts will participate, including Richard Jackson, Professor and Director of Mercer's Center for Community Pharmacy Practice and Research, who has been published in 65 journals and five books, and is the editor of NCPA's widely-praised, interactive Effective Pharmacy Management CD-ROM; and Harry Lattanzio, President, PRS Pharmacy Services, which helps pharmacies with every aspect of their businesses. Other experts are Jeff Baird of Brown & Fortunato, P.C., Tim Davis, owner of Beaver Health Mart Pharmacy; Brian Faulk, Senior Loan Officer, Live Bank; Bill Popomaronis, NCPA Vice President of LTC/HHC; Dan Strause, CFO, Greenwoods Financial Group; Liz Tiefenthaler, President, Pharm Fresh Media; and Scot Maitland, owner of Live Oak Pharmacy.

Past participants have offered testimonials to the effectiveness of the Pharmacy Ownership Workshop in surveyed responses such as:

  • "I really enjoyed the workshop and took a wealth of information away from it. It is a good service NCPA does and I will encourage others to attend if they are interested in independent ownership."
  • "As a new grad entering a junior partnership, I found useful information in every aspect of the workshop. Of particular value were the business plan, financial projection, and junior partnership presentations by Richard Jackson. I also found a lot of value in the banking, legal, and technology presentations. Those alone made the workshop worth the initial outlay."

In October, NCPA and McKesson Corporation announced a partnership to extend NCPA's Ownership Workshop program to help hundreds of pharmacists realize the dream of running their own pharmacy practice. Under the arrangement, the program will be known as the NCPA Ownership Workshop sponsored by McKesson. The healthcare services and information technology company has pledged $1 million to sponsor the program for five years, with the option to extend for up to 15 years.

Registration includes two-nights lodging, five meals, tuition, and continuing education processing. To register either go online or call 1-800-544-7447, extension 2670.

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.

Ask Your Family Pharmacist TM