As we wrap up 2024, it’s a perfect time to reflect on the remarkable achievements and milestones that have defined this year for Independent Pharmacy Cooperative (IPC). Our commitment to supporting your independent pharmacies has never been stronger, and the successes we’ve shared with you, our members and affiliates are a testament to our collective efforts. This year has been filled with significant accomplishments that have empowered our members, enriched your communities, and strengthened our industry. Here’s a look back at some of the highlights that made 2024 a standout year for IPC.
March 2024: Advocacy in Action
In March, IPC’s executive team and board members took to Capitol Hill for a legislative fly-in to advocate for critical reforms. Meeting with legislators in Washington, D.C., we fought for changes to PBM, 340B, and Pharmacy Service Provider legislation. Our advocacy efforts are driven by the understanding that independent pharmacies face unique challenges that require tailored legislative solutions. By engaging directly with policymakers, we aim to create a more favorable regulatory environment that supports the sustainability and growth of independent pharmacies. Learn more about our lobbying efforts and all of the amazing actions taken in 2024!
June 2024: A Record-Breaking Payout to Members
In June, IPC proudly distributed a record-breaking $28 million in payouts to our members. This included $14 million in 2023 Patronage and an additional $28 million in 2024 Patronage payouts. These substantial returns underscore our commitment to maximizing the financial success of our members. By returning 100% of our profits and McKesson rebates, we ensure that our members directly benefit from their association with IPC. This financial boost not only supports your business but also enables you to continue providing essential healthcare services to their communities. Read more about our year-end dividend and equity payout.
August 2024: Strengthening Our Partnership with McKesson
August marked a significant milestone as IPC signed a new supply agreement with McKesson. This strategic partnership enhances our members’ purchasing power and provides tailored solutions to meet your unique business needs. The agreement includes the continued expansion of the Pharmacy Select program, the nation’s most comprehensive backup contract for community pharmacies. With expert guidance from our IPC team, you can navigate the complexities of the pharmaceutical supply chain with confidence, ensuring you have access to the best products and services available.
Building Industry-Leading Partnerships
Throughout 2024, IPC has focused on developing industry-leading partnerships that bring value and savings to our members. We have introduced discounted memberships to the National Community Pharmacists Association (NCPA), Digital Health enhancements including transportation and delivery services with Uber Health, and expanded our Vendor Advantage Network. Additionally, we have implemented supply agreements and purchasing compliance solutions like SureCost, RxAssassins, and CheckMyRxCost, partnerships and solutions are designed to help you operate more efficiently and effectively, ensuring they remain competitive in a rapidly changing industry.
Celebrating Our Members
At IPC, we believe in celebrating the achievements and milestones of our members. This year, 19 independent pharmacies across the United States marked their grand opening celebrations, each making strides to provide affordable and accessible healthcare to their communities. Among these milestones, Balboa Pharmacy’s 100th anniversary stood out as the largest celebration of 2024. We also celebrate IPC’s Most Valuable Pharmacy of 2024: Medical Arts Pharmacy, led by its dedicated owner, Chocky White. These celebrations highlight the incredible work our members do every day to support their communities and advance the pharmacy profession and commitment to patient care. Recognizing their successes not only honors their hard work but also inspires others within our cooperative to strive for excellence.
Leadership Transformation: Welcoming Vicki Einhellig
In April, IPC celebrated its USA Today Top Workplace Award. This remarkable recognition exemplifies our dedication in leadership, innovation, and work-life flexibility within our organization. It’s not just an accolade; it’s a testament to our ongoing commitment to excellence. In September, the IPC board appointed Vicki Einhellig, RPh, owner of Good Day Pharmacies in Loveland, CO, as the new Chair of the IPC Board. Vicki brings a wealth of experience and a deep commitment to the independent pharmacy sector. We also extend our heartfelt thanks to Chris Darling, RPh, of Darling’s Pharmacies of Warren, PA, for his dedicated service as Board Chair. Under Vicki’s leadership, we look forward to continuing our mission of supporting independent pharmacies and driving positive change in the industry.
IPC: Future-Ready with the Fastest Growing Buying Group in Pharmacy
2024 has solidified IPC’s position as the fastest growing buying group for independent pharmacy’s looking to be Future-Ready. Our growth is a testament to the trust and confidence that independent pharmacies place in us. In an industry characterized by constant change and challenges, IPC stands as a leader, helping to prepare your independent pharmacy for future needs. We encourage all pharmacies to explore what sets IPC apart from other buying groups. Our member-owned cooperative model, comprehensive support services, and unwavering commitment to returning profits to our members make us a unique and valuable partner.
Looking Ahead with Pride and Hope
As we look back on 2024, we are filled with pride for the accomplishments we’ve achieved together and filled with hope for the future. The challenges facing independent pharmacies are complex, but with IPC by your side, you are supported, empowered, and equipped to seize opportunities and overcome obstacles. We invite you to open a conversation with us, discuss your specific needs, and explore how IPC can help you achieve your goals. Together, we can continue to enhance the health of our communities and strengthen our industry.
