NCPA Executive Update

NCPA Executive Update delivers insights on legislative, regulatory, policy, and industry developments from NCPA CEO B. Douglas Hoey, Pharmacist, MBA, to NCPA members and pharmacy leaders every Friday.

It's All About the Benjamins | NCPA Executive Update | May 20, 2016

by NCPA | May 20, 2016

Dear Colleague,

Doug Hoey

How much would you pay for an extra hour in your day? Keep reading for an answer, but safely assume that most people would pay something if they just had more time to do all the things they need and want to do.

Every pharmacist I know gets this. Their time is constantly in demand because 1) they care, 2) they are experts on subjects that are important to other people, and 3) most of the time the information they provide is free (even though it shouldn't be and that is changing—a topic for another Executive Update!).

When every second counts and every penny counts, how can you make the most of both? One way is by using the power of NCPA's connections to 22,000+ community pharmacies to share what some of the most successful pharmacy operators in the country are doing. Whether it's innovation--using a lower-cost technology system; operational optimization (like delegating a task from the pharmacist to a technician); or a back- office solution (one pharmacy owner shared with his peers that he saved thousands of dollars last year by simply switching to cheaper prescription labels), we are unlocking ways for you to find more time and more money in your day.

We've changed this year's NCPA Annual Convention, which will be held Oct. 15-19 in New Orleans, to present solutions in a format that is slap-your-forehead easy to digest and implement. We understand that the challenges you face daily are not one-dimensional and neither are the solutions. This year's programming brings you multi-dimensional solutions, opportunities, and profits to cover all aspects of your store. The three dimensions are the front end, expanding patient care opportunities, and the back office.

Importantly, peers will share their successes in money-making, high-margin, health and wellness-focused niches; show you how to capitalize on profitable opportunities to expand your practice into a variety of clinical services; and give you insights on the "stuff they didn't teach us in pharmacy school" parts of running a business. Each program has a purpose, and just in case it's not clear, each program describes what you will "Walk Away With".

The humorist and author Mark Twain once said, "I have never let my schooling interfere with my education." Likewise, pharmacists should not let CE prevent them from learning something that helps them be more successful running their business, caring for the people in their community, and squeezing out more personal time for themselves!

The NCPA Annual Convention will still have CE opportunities, but more than ever we'll have a mix of non-CE programs for you to choose. Not advertorials, but programs where successful pharmacy owners have the freedom to share what products and services helped them build their businesses.

We're also expanding the opportunities for idea-sharing at this year's event. The weekend will kick off with a large knowledge-sharing session on Saturday afternoon featuring a room full of successful business owners from all over the country describing their profit ideas and stories. Several of the educational sessions will include 20- or 30-minute discussion sessions at the end so attendees can exchange their success secrets. You're guaranteed to pick up a tip or two during the convention that will save or make you money in your pharmacy business.

And that is what makes the NCPA Annual Convention truly unlike any other conference you will attend this year: people like YOU who have discovered new products, implemented new methods of accomplishing tasks, and learned valuable insights along the way. Success walks the hallways of the NCPA Convention because you are there. It is an investment in your business that will pay you dividends.

The 2016 Preliminary NCPA Convention Guide should arrive in your mailbox as early as next week. If you can't wait (and who has time to wait!) you can get a sneak peek at on the NCPA website.

So how much would people spend for an extra hour in their day? Almost 60% of Americans would be willing to spend an average of $2,725 according to a recent survey reported in Time magazine. Take the time to find more time (and money) in your day. Put the NCPA Annual Convention on your calendar for mid-October.

Best,

Doug Hoey