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.

Summer musings on the front (end) of my mind | NCPA Executive Update | June 22, 2018

by NCPA | Jun 22, 2018

Dear Colleague,

Doug Hoey

It's summer and it feels like it this week in Washington, DC. For many independent pharmacy owners, summer means a trip to their wholesaler's show and signing up to attend the October NCPA Annual Convention to catch the lower-priced premier registration rate.

For NCPA's Innovation Center team, this summer brings a couple of exciting new opportunities, as they will provide educational programming for both Cardinal Health's RBC and AmerisourceBergen's ThoughtSpot meetings. NCPA will also be at McKesson's ideaShare meeting and several regional wholesaler shows. I encourage you to talk with NCPA team members wherever you see them and learn about all that NCPA has to offer our members. I guarantee you will find something valuable that you weren't aware of previously.

One thing you can learn more about in the NCPA space at these shows is our Front-End Marketplace and the different products that we've found for the front end of your store. These products are not available from your primary wholesaler and are picked for their potential to drive traffic and revenue.

Our front-end guru, Gabe Trahan, works with the vendors featured in the Front-End Marketplace to make sure the products and selling terms (minimum orders, shipping costs, etc.) are right for our community pharmacies. For instance, our June Vendor of the Month, Celeste Stein Designs, has a great special running on its colorful compression stockings as well as the leg models to display them, available until July 15. And Gabe is quite excited about the Korean skin care from Rootree that was recently added.

Speaking of Gabe, you can catch him and his front-end wizardry live at both RBC and ThoughtSpot. And of course, he will have unique programs at the NCPA Annual Convention, like "Front-End Refreshes for under $1,000." Looking for more tips from Gabe? Subscribe to our Profit Makers eNewsletter and visit the Front-End Overhaul section of the NCPA website.

The front end of our members' stores has been on my mind lately, in part because we recently participated in the annual Front-End Forum that is put on by the Healthcare Distribution Alliance, in conjunction with the Consumer Healthcare Products Association and NCPA. Each year, NCPA brings a handful of community pharmacy owners and front-end managers to this meeting to engage with top executives from wholesalers and OTC manufacturers. At this meeting, these executives focus on how their companies can help retailers improve the revenue and profitability of their non-pharmacy business.

This forum is always a great exchange and valued by all the participants. In talking with the NCPA members and staff that were there, one thing stood out – the fact that the wholesalers and manufacturers genuinely want to better understand the retailers and get ideas on how to serve them better. In a word, they care.

So, my last recommendation this week is to engage with your business partners, both existing ones and potential new ones. When you see them at a summer show and at the NCPA Annual Convention, don't hesitate to talk with them, tell them about your business, and ask them how they can help you. Chances are, you will find they care more than you expected.

Best,
Doug Hoey

P.S. As a community pharmacist, patient care is your top priority. You often deliver service that the chain drug stores can't – or won't. What special things has your pharmacy done to care for patients? We're working on a story for America's Pharmacist®, and we want to hear your tales of remarkable service – the stories that chains can't tell. Send your story to us by June 30 – and no more than 150 words, please.