The Pharmacy Podcast Network is the Pharmacy industry's first audio blog network about the 'Business of Pharmacy'. The Pharmacy Podcast Network is a collection of over 20 different pharmacist's podcasts, discussion, ideas, innovation, and interviews from the brightest minds in pharmacy. We are always expanding our programming to Independent Retail, Compounding, Long-term Care, Specialty, Hospital Systems, and Small Chain Pharmacy Businesses. We're expanding content for Patients and Pharmacy Students and encourage our listeners to submit ideas for future shows. The Pharmacy Podcast Show is about dynamic people in the pharmacy industry making a difference for our profession, customers, and patients.
The Case for Personalized Medicine Pharmacy Podcast Episode 231

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 

Direct download: Blake_Toney_Pharmacogenomics_.mp3
Category:Pharmacy -- posted at: 10:57am EST
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Transforming Senior Care - ASCP CEO Frank Grosso, RPh. Pharmacy Podcast Episode 230

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 

#ASCP2015

Direct download: ASCP_Transform_Senior_Care_2015.mp3
Category:Pharmacy -- posted at: 4:23pm EST
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Drug Quality and Security Act - IACP Podcast - Pharmacy Podcast Episode 229

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.

This podcast is brought to you by The Compound Conference. The Compound Conference is a new event that IACP is producing in association with the Ohio Pharmacists Association this coming August 15, 2015 at the Hilton Columbus in Columbus, Ohio. Register today at IACPRx.org/TheCompoundConference

Other links for this show:

IACPRx.org/TheCompoundConference <— Show Sponsor

Reference:

https://www.congress.gov/bill/113th-congress/house-bill/3204

Direct download: IACP_Podcast_Drug_Quality_Security_Act.mp3
Category:Pharmacy -- posted at: 3:41pm EST
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Welcoming Jason Poquette, PharmD to the Pharmacy Podcast Show

THE HONEST APOTHECARY

The Honest Apothecary is about the profession of pharmacy, pharmacy careers,  pharmacy-related interviews, and pretty much anything related to…well….pharmacy.  My name is Jason Poquette.  I’m a pharmacist.  Welcome to my blog.

Jason calls his site the “Honest” apothecary. Not that those other pharmacists are dishonest! We are still, due to no special efforts on his part, one of the more trusted professions in society. Jason says that he's personally grateful to the many excellent pharmacy blogs being written today. But he chose the word honest because of Noah Webster’s beautiful definition of honesty in his dictionary published in 1828: “In principle, an upright disposition; moral rectitude of heart; a disposition to conform to justice and correct moral principles in all social transactions.” and therefore put that word “honest” not so much before YOUR eyes as a constant reminder of what we should all strive to be.

Pharmacist resized to 150 x 150Jason goes on to explain that he uses the word “Apothecary” also. Not that he has any problem with the title “pharmacist”. Pharmacist is fine. But the word apothecary comes from the Latin “apotheca” meaning, literally, a “storehouse”. You see, we spend many years reading, studying and practicing this profession while in school. Then we graduate and discover that we only know about 1% of all the available drug knowledge there is to accumulate. So…we keep reading, studying and learning. All the while we are “storing” up (apotheca) information, some of it useful…some obscure. But lo and behold we discover to our dismay that there is hardly time in the typical workday to breathe, let alone actually communicate what we have learned. So…a blog seems like the logical place to turn, and “apothecary” seems to fit the purpose.

Direct download: Jason_Poquette_Honest_Apothecary.mp3
Category:Pharmacy -- posted at: 10:20am EST
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Health4Me Digital Health Mobile Technology - Pharmacy Podcast Episode 227

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. 

  • Health4Me is designed to help all consumers make more informed decisions regarding their care, including the ability to:  
  • Locate nearby health care providers, and convenience care, urgent care and emergency care facilities
  • Review market average prices for more than 520 medical services across 290 episodes of care, providing a comprehensive view of what consumers should expect throughout their course of treatment

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 

#DigitalHealth:  

Direct download: UnitedHealth_Podcast_One.mp3
Category:Pharmacy -- posted at: 9:57am EST
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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.

#CCH2015 

CORPORATE HEADQUARTERS

4638 Riverstone Blvd.
Missouri City, TX 77459
P: 281.933.8400
F: 281.495.0602

WASHINGTON, D.C. HEADQUARTERS

1321 Duke Street, Suite 200
Alexandria, VA 22314
P: 703.299.0796
F: 703.299.0798
E: iacpinfo@iacprx.org

Direct download: IACP_CCH2015_SUMMARY_SHOW.mp3
Category:Pharmacy -- posted at: 12:25pm EST
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IACP Podcast 8 Pharmacy Podcast Episode 225

 

Welcome back to the IACPodcast. This week I caught up with Jennifer L. Petska, CPhT IACP Director of Development & Membership and IACP Foundation Administration & Development. Jen worte Making the Most of Exhibiting at a Trade Shows in the spring issue of Pharmacy Marketing Quarterly. To read Jen's article, visit the IACP Publicaitons page at IACPRx.org/Publications and choose the Spring issue of Pharmacy Marketing Quarterly.

The following are list of potential questions to ask:

Are you a sponsor of IACP? ACA? Or any other pharmacy association?

 

Tell me about your quality program.

 

What type of testing do you do on your chemicals/products?

 

Tell me about your shipping policy.

 

Tell me about any specials you have.

 

Do you work with any buying groups?

 

Can I order online?

 

Do I have a dedicated sales representative?

 

Do you have training (classes or product specific)?

 

Do you have technical support (product specific/formulas)?

 

Can I order directly through you? If not, who do you distribute through?

 

Does your product integrate with my current computer program or other products? (ex. Does this balance work with your software?)

 

What type of return policy do you have?

 

What type of warranty/guarantee do you have?

 

Are you a membership based organization?

 

How long have you been in business with compounding pharmacies?

 

Do you have an NDC & AWP on your chemicals?

 

Do you have a catalog?

 

Do you offer financing? Or payment plans?

 

Do you offer a discount for paying my bills at the time of service or within net 10 or net 15?

 

What’s the best way to interact with you? (Phone, email, Facebook, Twitter)

 

Do you have social media channels? (Facebook, Twitter, Instagram, LinkedIn, etc.)

 

What makes you stand out from your competition?

Jen's recommendation for where to eat in Washington D.C.

Filomena Ristorante

1063 Wisconsin Ave NW

Washington, DC 20007

(202) 338-8800

http://www.filomena.com/

Follow us on social media!

http://FB.com/IACPRx

http://FB.com/IACPRxPubs

http://Twitter.com/IACPRx

http://Twitter.com/IACPRxPubs

http://Instagram.com/IACPRx

http://Instagram.com/IACPRxPubs

Direct download: IACP_Podcast_8.mp3
Category:Pharmacy -- posted at: 12:04pm EST
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Medications in Time of Disasters: Rx Response Pharmacy Podcast Episode 224

Dr. Erin Mullen returns to the Pharmacy Podcast Show to bring listeners up to date on the initiatives of their critical mission. 

Our Vision:

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.

The Mission:

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.  

Rx Response 

Email contactus@rxresponse.org 

1-866-247-2694

Direct download: RxReponse_Retunrs_Pharmacy_Podcast.mp3
Category:Pharmacy -- posted at: 1:13pm EST
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Banking Designed for the Business of Pharmacy - Pharmacy Podcast Episode 223

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   Bankruptcy

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

http://www.liveoakbank.com/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.

 

Direct download: Live_Oak_Bank_Pharmacy_Financing.mp3
Category:Pharmacy -- posted at: 1:38pm EST
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