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 other Friday.

SurThrival of the fittest pharmacy | NCPA Executive Update | November 8, 2019

by NCPA | Nov 08, 2019

Dear Colleague,

Doug Hoey

Earlier this week, I had a conversation with an NCPA member about the many changes that have taken place in running a community pharmacy. "It's a lot more complicated than what it used to be," she said. I had to agree. There was a time long ago when it was enough to get your license, "hang your shingle," and presto, you were in business! Back then, the best business operators would thrive. The mediocre business operators would at least survive. But, the environment has become much more complicated. Prior authorizations. MACs. Audits. Manufacturer coupons. Claims reconciliation. DIR. GER. Staff training. Social media. Running your pharmacy operation optimally is no longer the ceiling. It can make the difference in staying in business.

Conversations like that have led to NCPA introducing the SurThrival series. You got it. This is a series about not just surviving but thriving in today's ultra-complex, ultra-competitive environment. At NCPA, our sole reason to exist is to help pharmacy owners be successful. That means every day we will talk to some pharmacy owners who are doing fantastic with their business. It also means we have almost a post-mortem with some owners who have recently sold their business. In both cases, NCPA is able to glean information that we are sharing with you through NCPA's SurThrival series.

As we started to create the SurThrival series we did it with time economy in mind. The segments in the SurThrival series aren't meant to be novels. They are intended to cut to the chase to share with you the most vital things you can do to make sure your business is here next year and for years to come! No matter how busy you are, this really is a program you can find time for.

We've curated advice from the best minds out there. We will present this information to you in America's Pharmacist® every month. The SurThrival series will spotlight topics that will help you survive and thrive in today's pharmacy climate. Among the topics we'll cover in the series are managing your financials, training staff for a successful medication synchronization program, maximizing your staff's effectiveness, creating a marketing plan, diversifying your revenue portfolio with niche services, using a front-end profitability analysis, and more. This month's America's Pharmacist (which should have or will be landing in your mailbox any day or you can read online) kicks off the series with more detail. Be sure and give it a quick read.

You'll find the NCPA SurThrival series helpful and practical. And these aren't ivory tower experts; this information comes from experts with practical experience. The way we've envisioned SurThrival, it will be like a checklist for success that you can implement right away. We want to make it easy to access and easy to digest. And above all, we don't want your pharmacy to just get by, we want it to SurThrive!

Best,

Doug Hoey

 

Douglas Hoey, Pharmacist, MBA
NCPA CEO