IPC On the Road:
A Journey through the 2024 NCPA Annual Convention & Expo
By Joe Meinholz, IPC Marketing Manager
As you stepped into the bustling venue of the 2024 NCPA Annual Convention & Expo, there is a wave of excitement and anticipation. This year, the convention promised to be a hub of innovation, learning, and networking for community pharmacy professionals, and it did not disappoint.
The opening general session set the tone for the entire event. Featuring The Passing Zone (Jon Wee & Owen Mors), a dynamic duo known for their unique blend of comedy and education. The session was both entertaining and enlightening as Jon and Owen emphasized the power of working together through the concept of I.C.E. (Innovation, Collaboration, and Execution) as a framework for success in community pharmacy. Their performance was a perfect mix of humor and practical advice, leaving us all inspired to apply these principles in our own practices.
Kicking Off with the Pharmacy Ownership Workshop
This year’s NCPA journey began with the Pharmacy Ownership Workshop held two days leading up to the NCPA conference, a comprehensive session designed for aspiring pharmacists looking to start or buy a community pharmacy.
Topics covered in the program included:
- Building a successful pharmacy practice
- Business owner roles, responsibilities, and management styles
- Financial planning for success and growth
- Marketing your pharmacy practice
- Assessing technology needs for the pharmacy
- Legal and accounting counsel for the new owner, including pitfalls to avoid
- Floor planning, pricing strategies, and product placement
- How to be successful in your first year of ownership
The workshop featured several amazing speakers who shared invaluable insights. From pharmacy owners sharing their knowledge and experiences and industry professionals sharing tips and tricks for running a successful pharmacy. One key takeaway was the importance of having expert help with your business, hiring an accountant and attorney who specialize in pharmacy to properly setup and kick off your pharmacy, as-well-as engaging with industry experts to navigate regulatory requirements, understanding licensing needs, and exploring additional services beyond dispensing revenue. This holistic approach to pharmacy ownership was both enlightening and empowering.
Learning from successful owners like Hashim Zaibak of Hayat Pharmacy and Jonathan Marquess of The Marquess Group was incredibly valuable. These seasoned professionals shared their life experiences, helping us learn from their mistakes and providing valuable lessons. As someone who has had the opportunity to visit Hashim’s Fitzgerald’s Pharmacy in Whitefish Bay, Wisconsin, it is a stunning pharmacy and a testament to making a pharmacy a centerpiece of the community. The value of this workshop is a must for any pharmacist, whether you want to open your own pharmacy or not, as it equips you with essential insights and skills that are crucial in any pharmacy setting.
Engaging Breakout Sessions at NCPA 2024
The convention was packed with breakout sessions tailored to enhance skills and knowledge. Breakout sessions provided incredible valuable business education and continuing education opportunities. Topics ranged from marketing your pharmacy and drug dispensing to insurance, DSCSA, and the use of AI in pharmacy practice. Each session was a treasure trove of information, offering practical tips and strategies to implement in our own practices. These sessions truly emphasized the importance of solidifying existing business with an eye on expanding into non-dispensing opportunities.
At IPC, we were grateful to have had the opportunity to present our iCare+ product to over 200 attendees, reinforcing our commitment to supporting independent pharmacies, with our hosted session, “Adapting to the Future: Integrating iCare+ into Independent Pharmacy.” This session was designed to showcase how independent pharmacies can transform their store into a healthcare destination by leveraging iCare+’s suite of services, from remote patient monitoring, prescription savings with Scriptpass and patient transportation with Uber Health. iCare+ aims to position the community pharmacy as a powerful healthcare destination for your community. The insights shared were practical and forward-thinking, offering a clear roadmap for integrating advanced services into your pharmacy.
The entirety of the convention had an emphasis of growing beyond the traditional pharmacy model and expanding your business beyond the control of the PBM’s.
The Expo Experience
The expo floor was a vibrant space where pharmacy professionals gathered to explore the latest products and services. We met with new vendors to discover innovative solutions that can help pharmacies excel and reconnected with existing vendors to find new ways to deliver excellence to our membership. This dynamic environment fostered valuable connections and insights, ensuring we stay at the forefront of advancements in the pharmacy industry.
Our Pharmacy Services team Kelli Stovall and Samantha Pomeroy got to spend time discovering new vendors and learning how they are helping independent pharmacies thrive through new products and technology. I got to visit several of our vendors to learn more about the products and services they offer firsthand to better help me understand how their products will help your independent pharmacy grow and thrive in this ever-evolving landscape.
The IPC booth was a popular stop, buzzing with conversations about expanding services with iCare+ and how IPC, as a Group Purchasing Organization and as a Secondary Wholesaler, can support community pharmacies to thrive amidst today’s challenges. It was comforting to see the enthusiasm and commitment of our peers as we discussed strategies to grow and innovate.
Advocacy & Finishing the Fight for PBM Reform
The Monday morning general session was particularly impactful as it centered around a critical topic: the importance of PBM reform and NCPA’s “Finish the Fight” campaign to achieve this reform. The session included an update and discussion about the 2024 election and the importance of getting out the vote. These discussions underscored the need for collective action and advocacy in the pharmacy community.
NCPA expressed that more than 50,000 messages have been sent in support of key pharmacy reforms to legislators, but the fight isn’t over. The best time to secure PBM reform and other key pharmacy reforms will be during the five-week lame duck legislative session in November and December, as Congress will be looking to pass an omnibus spending package which can include these reforms.
In the coming weeks, look out for new campaigns aimed at pushing legislators to include these reforms and “finish the fight.” NCPA is encouraging pharmacies to engage with their patients, asking them to send messages and share their personal stories about the difficulties they face with PBMs. Messaging from patients is crucial to conveying the urgency of these reforms. NCPA’s challenge is to get just 10 patients to send a message to their representatives, emphasizing the need for immediate action. If you want to act today visit the IPC voter voice campaign to encourage action today.
A Memorable Experience
Attending the 2024 NCPA Annual Convention & Expo was an unforgettable experience. It was not just about the knowledge gained but also about the connections made and the inspiration drawn from fellow pharmacy professionals. The convention reinforced my belief in the power of community pharmacies and the pivotal role they play in our community’s healthcare and how they can no longer rely solely on dispensing revenues to thrive; it is important to look toward the future and expand your service offerings.
Looking Ahead
As I reflect on my time at the convention, I am filled with a renewed sense of purpose and excitement for the future. IPC’s commitment to supporting independent pharmacies at the core of their business, optimizing purchasing and making operations more efficient and effective, along with innovative solutions like iCare+, there is a path to a brighter, more integrated healthcare landscape. I can’t wait to see what pharmacies can accomplish when they implement the suggestions taught at the convention and continue their journey of growth and transformation.
For community pharmacies looking to make an impact on the advocacy of our industry, consider joining NCPA to ensure our collective voice is heard. IPC members get an exclusive discount on their membership. Reach out to your IPC Regional Director or talk with Pharmacy Services to see how IPC can help. Together, we can build a stronger, more resilient community pharmacy network. Next year’s NCPA Convention will be held in New Orleans October 18-21. We hope to see you there for an equally memorable learning experience!
