Tue, 30 June 2015
We return to the subject of personalized medicine and Pharmacogenomics - talking with Blake Toney, PharmD., MBA with Walgreens.
There’s been a series of genomic discoveries that tell us how individuals tolerate and metabolize a specific list of drugs flagged by the FDA. But physicians, for the most part, still aren’t applying this in practice. We have all this useful knowledge that would help patients, and it just gets ignored and as pharmacists who understand the science, it’s frustrating.
The science exists to screen people for a poor reaction to the drug, so it’s only administered to those who won’t get neuropathy – but it’s not being done, but why? We talk with Blake about the common objections and help set the record straight based on available data from the CDC, FDA, and the U.S. National Library of Medicine.
The Case for Personalized Medicine - Blake Toney PharmD MBA
Thu, 25 June 2015
Today's interview is with ASCP's CEO Frank Grosso, RPh.
Frank L. Grosso has been executive director and chief operating officer of the American Society of Consultant Pharmacists since 2014. Grosso has 35 years of long-term care pharmacy experience, most recently as corporate vice president of pharmacy services at Genesis HealthCare, LLC, one of the nation’s largest long-term care providers. His responsibilities included oversight of operational and contracted pharmacy services for 411 nursing facilities and assisted living communities in more than 35 states that are owned and managed by Genesis.
Previously, he served as senior vice president of pharmacy operations for NeighborCare Pharmacy and director of long-term care pharmacy at Fay’s Drugs. A graduate of Albany College of Pharmacy, Grosso has been an ASCP member since 1981 and has served on numerous ASCP committees including the Drug Enforcement Administration Task Force and the Advocacy Council. He has been involved in key issues such as short-cycle dispensing, implementation of Medicare Part D, and controlled drugs.
Contact ASCP: https://www.ascp.com/frank-grosso
Tue, 23 June 2015
This week Scot Maitland caught up with Dave Miller, Executive Vice President and CEO of the IACP to talk about Senate Bill 1406. This has the potential to be a positive thing for ALL pharmacists. The easiest way to share this information is to tell your colleagues to visit IACPRx.org/Publications and select Podcast number 11.
Direct download: IACP_Podcast_Drug_Quality_Security_Act.mp3
Category:Pharmacy -- posted at: 3:41pm EDT
Fri, 19 June 2015
Welcoming Jason Poquette, PharmD to the Pharmacy Podcast Show
Fri, 12 June 2015
Digital Health Innovation must be simplistic, solutions driven, and patient centered. Our podcast interview with Kirk Pion - Vice President and Innovation Champion with UnitedHealth Group is about their "Patient Centered Application" Health4Me.
More easily anticipate and manage health care expenses based on local estimates
UnitedHealthcare is among the first national health care companies to enable all consumers to comparison shop for medical services using a "guest" version of myHealthcare Cost Estimator™, a mobile medical price transparency service available through Health4Me.
Consumers can download for free the Health4Me app through the iPhone and Android apps stores. More than 900,000 UnitedHealthcare plan participants have already downloaded the Health4Me app.
For additional information - click here: Health4Me - UnitedHealth
Tue, 9 June 2015
The 21st Annual Compounders on Capitol Hill (CCH) was held June 6-9, 2015 at the Renaissance Washington, in Washington D.C. With more than 400 attendees, Compounders on Capitol Hill pulled together top-level compounding pharmacists and technicians from across the country with the same goal – to protect pharmacy compounding.
The International Academy of Compounding Pharmacists (IACP) is an association that represents more than 4,000 pharmacists, technicians and students.
4638 Riverstone Blvd.
WASHINGTON, D.C. HEADQUARTERS
1321 Duke Street, Suite 200
Fri, 5 June 2015
Thu, 4 June 2015
Dr. Erin Mullen returns to the Pharmacy Podcast Show to bring listeners up to date on the initiatives of their critical mission.
Building the resiliency of our communities supports health and creates economic strength so that if disaster strikes quality of life returns to normal as fast as possible. Working together we ensure that we are stronger than the next disaster.
Rx Response leverages unique relationships with government, nonprofit, and medical supply chains to build and enhance the resiliency of communities before, during and after disasters.
Learn more about Rx Response’s history, and how Rx Response helps during and in preparation for disasters.
Mon, 1 June 2015
Today’s Pharmacy Podcast Interview is with Pharmacy industry Jimmy Neil with Live Oak Bank.
Jimmy Neil has been involved with helping independent pharmacies thrive since 2001 when he became a Director of Sales for a Fortune 20 Drug Distributor. In 2008, he started that company's Pharmacy Transition Team where he grew the team in 3 years to 5 dedicated consultants. Over the 6 year tenure, they helped more than 600 community pharmacies transition ownership.
Jimmy is a co-founder and principal of Greentree Pharmacies which operates 2 community drug stores filling more than 170,000 prescriptions a year n Louisiana. Most recently, Jimmy joined Live Oak Bank as the General Manager, Pharmacy. Live Oak Bank is the largest lender to independent pharmacies, lending almost a half a billion dollars in the last 5 years to more than 450 pharmacies. Live Oak Bank is the 2nd largest SBA guaranteed lender in the US.
1. Why Live Oak Bank?
· A PLP for the SBA – make decisions in-house, quickly
· Offers industry focused teams
· Speed and technology for faster, efficient financing
· We’re committed to community pharmacy
2. How does Live Oak work with buyers/sellers to finance a pharmacy?
· There are different types of buyers: partners, first-time buyers, seasoned owners
· We evaluate the credit, cash flow, structure the deal using highly leveraged financing structuring seller carry.
· Because we understand pharmacy so well we provide sufficient working capital. Other banks don’t understand that need.
3. Why Pharmacy?
· People ask me all the time, “Is now a good time to be in pharmacy?” How do you compete with Big Chains? Does it make sense to try to compete??
· Yes. Challenging times no doubt, consistent pressure on margins and access.
· We are committed to community pharmacy; the 2nd largest SBA lender in the country.
4. When is it appropriate to get Live Oak Bank involved?
· I found a pharmacy for sale and I’d like to own it. Do I qualify for financing?
o Contact your banker. They will look for motivation. Why community pharmacy? Look at your credit, etc.
o They will also talk about the pharmacy in a prequalification sense. Is it a viable project? Is the pharmacy thriving or should it be sunset?
5. What are some roadblocks for financing?
· With 100s of people applying for loans each week, what are the barriers to financing?
o Bad credit
o No vision
o No competency
6. I found a pharmacy for sale, I reach out to Live Oak, what does my life look like in 90 days?
If you’ve identified a pharmacy and reached out to the bank it is very possible that you’ve achieved the American dream in 90 days or less.
7. What about sellers out there; why should they take heed to what bankers consider?
· As a seller, prequalify your potential buyer. Ask them: “How much cash do you have?” and “What’s your FICO score?”
· Complete transparency / representation of the business. You should be able to provide:
o accurate financial statements,
o prescription mix,
o 3rd party payments,
o employee analysis and
o review of the physical plant.
LIVE OAK BANK – PHARMACY
At Live Oak Bank, our primary goal is to provide financing to independent pharmacists to help their businesses thrive. Having an owner of two independent pharmacies on our staff gives us the knowledge and experience to fully ingrain ourselves in your industry.
From Senior Loan Officer to loan closing specialist, each person who touches your loan is fully dedicated only to pharmacy customers. Imagine speaking to a lender who understands how to value your pharmacy, comprehends compounding, and recognizes the ever-growing competition from the chains. Not requiring you to explain terminology and the nuances of your industry allows us more time to establish a meaningful business relationship with you.