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.

Whoa Nellie! Pharmacies Compete | NCPA Executive Update | August 26, 2016

by NCPA | Aug 25, 2016

Dear Colleague,

Doug Hoey

College football fans remember Keith Jackson, an icon of college football sports broadcasting and his trademark expression, "Whoa Nellie"! What's better than watching the highest ranked college teams compete on a Saturday afternoon in the fall? On Oct 15 at NCPA's Annual Convention there will be intense collegiate competition, but it won't be on the football field.

Alabama, Clemson, and Oklahoma are ranked one, two, and three, in the 2016 pre-season college football polls but the 2016 Good Neighbor Pharmacy NCPA Pruitt-Schutte Student Business Plan Competition has its own trio of top rated teams.

The University of Maryland School of Pharmacy, University of North Carolina Eshelman School of Pharmacy, and University of Texas at Austin College of Pharmacy will compete to see who will be the 13th winner of the Business Plan Competition.

No matter the outcome, all three teams, as well as the 46 schools and colleges of pharmacy that submitted entries should be extremely proud of the work they put into creating a business plan that proposes how they would buy an existing or start a new independent pharmacy. Since 2004, thousands of pharmacy students have sharpened their business skills through the competition.

Even if you're not a Terrapin, Tar Heel, or Longhorn, you will want to be there to watch the competition and see these bright students present their plans. In between presentations, while the judges compile their scores, a slideshow featuring former business plan participants will be shown, highlighting how their experience in the competition helped them buy or start their own pharmacies. Your next great idea might be inspired from something you see during the slide show.

Of course, the most successful pharmacy owners in the industry will also be finding their next big pharmacy idea at NCPA's Annual Convention. The programs will focus on three different dimensions:

Additionally, there will be a session "Strategies to Combat DIRs," which is self-explanatory and one of the many programs you won't want to miss. For those looking to learn and satisfy continuing education requirements, you're covered. However, for those looking to pick up business and practice tips on what's working in the pharmacies of other owners, there will be plenty of programs that don't have the restraints of continuing education requirements.

Keith Jackson won't be at NCPA's Annual Meeting (at least as far as I know) but you can be. When you find your next big pharmacy ideas in New Orleans go ahead and let yourself say it: "Whoa Nellie!"

Doug Hoey

P.S. Executive Update will not be published Sept. 2.