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.

Get Ready - the Future Is Starting | NCPA Executive Update | January 20, 2017

by NCPA | Jan 20, 2017

Dear Colleague,

Doug Hoey

At last year's NCPA Multiple Locations Conference, speaker Bill Roth had the audience all over their seats—sometimes shifting nervously, but always at the edge of them.

Roth shared big picture pharmacy business trends that most pharmacy owners rarely have the opportunity to hear. Community pharmacy owners know what the challenges are in their business—PBMs bubble up to the top of the list—but a deeper understanding of what's motivating decisions from the rest of the marketplace will put owners in an action mode versus a reactive mode.

Roth will be doing an encore performance next month at NCPA's Multiple Locations Conference in San Diego, Feb 15-19. His analysis covers pharmacies, insurers, wholesalers, government, manufacturers, and consumers.

There's data here, but it's not a data dump. Some of what Roth had to say last time made the audience squirm. He wasn't there to blow sunshine, nor was he there to talk about a zombie apocalypse.

As the saying goes, you have to define the problem before you can solve the problem. Roth interprets the information and the pharmacy-owner audience takes it in and determines how to tie it into their business' performance.

The other programming at Multiple Locations Conference will be equally strategic. Positioning pharmacy for value-based payments—the government is working its way toward 50% of all of its health care payments being value-based by next year—is happening. There's a good chance its beginning to take form in your state. Whether you prefer to be a player or a spectator, local pharmacy networks that go beyond the pharmacy experience of the average consumer are forming. This session will share the real-world experience of pharmacy owners in these local networks, the services they are providing, and the business model that makes it viable.

The other programming at the conference will focus on the explosive wellness trend that consumers—especially baby boomers—are demanding. Do you remember the days when getting old was counted in survival years?

Boomers seem to want no part of that. They want surthrival years—living an active life, mentally and physically strong. They are buying products that give them the best chance of wellness. It's not a question if aging baby boomers will buy them, it's a question of from whom will they buy them? Who will be their trusted source? A random Internet site? A teenager at a vitamin store? A call center in a faraway country? Why not position your business to be the go-to source for the products they want and the information they need?

This year's Multiple Locations Conference prepares pharmacy owners for the future—that's where the patients are and that's where the business model is. Hopefully, you can make it to the conference and also enjoy the usually delightful San Diego weather.

Speaking of change, today's a big day for our nation. Washington, D.C., is buzzing with anticipation for three days of inaugural ceremonies, celebrations, and protests. There's optimism in the well as dread, depending on which side of the political aisle you lean.

Donald Trump has broken recent customary traditions in many ways including on Inauguration Day where the length of the parade will be much shorter, the number of balls much fewer, and he even said, "You're fired" to the parade's emcee of the last 50+ years.

One of the biggest takeaways from the winning Trump campaign is that change will be considered in multiple ways including health care. NCPA is the voice of community pharmacy in the capital and will continue to make sure your voice heard. Being at the Multiple Locations Conference next month prepares you and your business for whatever changes may be ahead.

Doug Hoey

P.S. The deadline to reserve your hotel stay at the Multiple Locations Conference under the special NCPA rate is this Tuesday, Jan. 24. After Jan. 24, rooms are subject to prevailing rates, which will be considerably higher. Book now.

P.P.S. CMS delivered some promising news on retroactive DIR fees late Thursday afternoon. Read my statement on it.