Dear Colleague,
“Life moves pretty fast. If you don’t stop and look around once in a while, you could miss it.” — Ferris Bueller
Quoting Ferris Bueller’s Day Off is a giveaway that I’m a Gen X-er (and also may say something about the depth of my cinema tastes). His quote is also a good reminder of the rush of things happening in community pharmacy. Some are opportunities. Some are quicksand. Either way, understanding marketplace developments and learning from other pharmacy owners’ successes (or their mistakes) can save you a lot of time, money, and emotion.
For example, you’ve probably heard about cash-only pharmacies and been intrigued by the idea. Wouldn’t it be nice to go back to simpler, transparent times when there was a price for a prescription that covered your overhead and the services you provide, plus make a reasonable profit? Or maybe cybersecurity is not at the top of your mind — until a hacker sneaks up on your business, costing you tens of thousands of dollars. Ransomware attacks on small businesses are on the rise. There are more topics that have probably hit your consciousness at one time or another, like how AI can help or hurt your pharmacy, what the heck’s going on with NADAC yo-yoing up and down the last few months, what’s the best way to bill for services to get paid the most with the least amount of headaches, and is long-term care at home an opportunity for me even if I don’t service LTC beds? It’s a lot to think about. It can be overwhelming.
Sorting out these topics and many others of interest to independent pharmacy owners is one of the reasons independent pharmacy owners love the NCPA Annual Convention. The business education programming, which is presented mostly by your peers, is one of the best investments you can make in your pharmacy.
This year we’re in Columbus, Ohio, Oct. 26-29. And while Columbus is a great city with a lot to do (awesome food market, great zoo, cool shopping and food, and humble football fans), it’s the programs at our convention that will produce returns.
The theme this year is GPS, short for Growth, Performance, and Success. And we mean it. Professional growth for you and your team. Optimal performance in all your products, services and processes. And success for your business and your patients.
Sorting out the opportunities and challenges. Getting out from being surrounded by the trees so you can see the forest. Plus, most of the programs provide CE. Unfortunately for me, I’m a man on roller skates throughout the convention and can’t get to most of the programs. So, you’ll find me on Dec. 30 and 31 doing hours of home-study CE and praying I can remember my password before the ball drops in Times Square.
Don’t be me.
And if you’re looking for the newest, smartest product ideas, the Expo Hall is an absolute must-see. In fact, 90 percent of our attendees last year said they found products and services in the Expo Hall that helped their businesses.
Of course, the 2024 election is only days after the Convention, and we’ve got some wonderful political pundits – one from each side of the aisle – lined up to debate the outcome. Most importantly, they’ll offer up their expert insights on how the elections will affect health care and especially pharmacy.
That’s all for today. (Borrowing from Ferris...)
You're still here?
It's over.
Go home. Go.
I’ll see you in Columbus at the end of October.
Best,
B. Douglas Hoey, Pharmacist, MBA
NCPA CEO
