The Business of Pharmacy Podcast™

In this episode, Dr. Leon Henderson-MacLennan of InThought Research discusses strategies for navigating competitive intelligence in the pharmaceutical industry, offering insights into data analysis, market trends, and the importance of strategic planning. Learn how to stay ahead in a rapidly evolving market. https://inthought.com/ https://www.bizofpharmpod.com

Join us as Kate Gainer, Executive Vice President and CEO of the Iowa Pharmacy Association, discusses the transformative shifts in pharmacy practice. Learn about statewide adoption of the new pharmacy standard of care, legislative advocacy, and the future of pharmacy. Don't miss this insightful conversation! https://www.iarx.org/ https://www.bizofpharmpod.com/

Ezriel Green, founder and CEO of EzriRx, discusses the innovative ways his company is transforming the pharmacy industry. EzriRx focuses on streamlining operations for pharmacies, saving them time and money by integrating technology that simplifies processes like purchasing and inventory management. Green highlights the importance of continually rethinking and improving business models to adapt to industry challenges and ensure long-term success. https://www.ezrirx.com/ https://www.bizofpharmpod.com/ https://www.waypointus.com/

In this episode of The Business of Pharmacy Podcast™, Mike Koelzer interviews Senator Shane Reeves, Pharm.D., State Senator of TN and CEO of Twelve Stone Health Partners, about his expert strategies for mastering time management and boosting productivity. Shane shares practical tips from his extensive experience in both the pharmacy industry and political arena, highlighting the importance of strategic planning and effective delegation. https://www.12stonehealth.com/ https://www.bizofpharmpod.com/ Sponsored by https://www.matchrx.com/

In this episode, Shabbir Imber Safdar, Executive Director of the Partnership for Safe Medicines, discusses how PBM practices are opening doors to counterfeit drugs. Safdar explains the connection between under-reimbursement for pharmacies and the rise in counterfeit medications, shedding light on the critical need for policy changes to ensure drug safety. https://www.safemedicines.org/ https://www.bizofpharmpod.com/

Join host Mike Koelzer as he talks with Kevin Houlihan, CEO of Workflow Services, about streamlining clinical workflows in pharmacies. Discover how Workflow Services is enhancing efficiency, reducing complexity, and enabling pharmacists to deliver better patient care through innovative technology solutions. https://www.workflowservices.com/ https://www.bizofpharmpod.com/ Sponsored by https://www.waypointus.com/

In this episode, Antonio Ciaccia, CEO of 46Brooklyn Research and President of 3 Axis Advisors, discusses the urgent need for PBMs to be transparent about their pricing practices. Join us as we delve into the complexities of drug pricing and the importance of accountability in the pharmacy industry. https://www.46brooklyn.com/ https://www.bizofpharmpod.com/ https://www.parcelhealth.co/

In this episode, Mike Koelzer interviews Irina Pelphrey, Group VP of Health at Albertsons, discussing the integration of pharmacy, nutrition, and digital wellness to enhance patient care. They explore innovative strategies, digital tools, and collaborative efforts transforming health outcomes. https://www.albertsonscompanies.com/ https://www.bizofpharmpod.com/ Sponsored by https://www.matchrx.com/

In this episode, Harini Bupathi and Lucas Morgan from Friar Levitt discuss defending against PBMs and litigating pharmacy disputes. They provide expert insights into legal strategies that help independent pharmacies navigate the complex landscape of pharmacy benefit managers and other legal challenges in the pharmacy sector. https://www.frierlevitt.com/ https://www.bizofpharmpod.com/ https://www.parcelhealth.co/

Explore the intersection of AI and ePrescribing with insights on combating counterfeit prescriptions. Discover cutting-edge technologies designed to enhance security, streamline pharmacy operations, and safeguard the prescribing process. Learn how advanced AI tools are revolutionizing the identification and prevention of counterfeit activities in the healthcare industry. https://drfirst.com/ https://www.bizofpharmpod.com/ Sponsored by https://www.parcelhealth.co/

Business Insights into Personal Health Data: In this episode, we discuss how individuals can monetize their health information and the broader impact on the healthcare industry. Gain insights on navigating this lucrative but complex field. https://yourgeno.me/ https://bizofpharmpod.com/ Sponsored by https://www.waypointus.com/

Join us as Dr. Chirag 'Chi' Patel, a pharmacist and dynamic entrepreneur from Charlotte, North Carolina, shares his journey from running a pharmacy to exploring various business opportunities. In this episode, Chi discusses the challenges and successes of diversifying business interests beyond the traditional pharmacy, including ventures in med spas and the food industry, and provides insights on how an entrepreneurial mindset can lead to greater community impact and financial success. Tune in to discover how pharmacy skills can translate into broader business achievements. https://carolinapharmacy.com/ https://BizofPharmPod.com Sponsored by https://matchrx.com

In this episode, we delve deep into the mental health challenges faced by pharmacists. We discuss systemic issues, the impact of workplace stress, and the importance of advocacy in promoting mental well-being. Join us as we explore strategies to support our pharmacists and enhance their professional lives. https://www.linkedin.com/in/helen-sairany/ Sponsored by https://www.parcelhealth.co/ https://www.bizofpharmpod.com/

In this episode, Mike Koelzer talks with Tim Ulbrich, PharmD of Your Financial Pharmacist about blending business acumen with life's financial stages. They delve into strategies for personal growth, navigating career transitions, and planning for retirement, offering listeners insights on balancing professional aspirations with personal financial health. https://yourfinancialpharmacist.com/ Sponsored by https://www.parcelhealth.co/ https://www.bizofpharmpod.com/

In a compelling discussion, Mike Koelzer and Greg Reybold, VP at American Pharmacy Cooperative, delve into the shifting battle against PBMs from state to federal levels. Greg highlights the urgent need for PBM reform, the challenges at the federal level, and strategies for protecting pharmacies and patient care against detrimental PBM policies. https://www.apcinet.com/ Sponsored by https://www.parcelhealth.co/ https://www.bizofpharmpod.com/

In this engaging episode, Mike Koelzer delves into the transformative world of prescription management with Otto Sipe, co-founder and CEO of Photon Health. Operating out of Brooklyn, New York, Photon Health is pioneering a modern approach to prescription delivery, streamlining the process through technology that allows prescriptions to be sent directly to patients via text. Otto shares insights into how Photon Health is redefining the patient experience by offering transparency and control over where and how prescriptions are filled. Through a candid conversation, listeners gain an understanding of Photon Health's mission to modernize pharmacy interactions, ensuring that decisions about health care are made with convenience and cost-effectiveness at the forefront. https://www.photon.health/ Sponsored by https://www.parcelhealth.co/ www.bizofpharmpod.com

In this episode, we're joined by Michael Hogue, CEO and EVP of the American Pharmacists Association. With passion for pharmacy and a mission to address the profession's challenges, Michael shares insights into the current landscape, from battling for pharmacists' rights in Washington D.C. to fostering hope within the community. Discussing topics from PBM complexities to advocating for pharmacists' roles in healthcare, Michael underscores the need for unity and action within the profession. As pharmacy faces significant hurdles, his perspective offers a blend of candid reflection and forward-thinking optimism, aiming to secure a brighter future for pharmacists nationwide. https://www.pharmacist.com/ Please support our sponsor: https://www.matchrx.com/

Sponsored by Parcel Health: In this episode of The Business of Pharmacy Podcast™, host Mike Koelzer welcomes Sumeet Singh, founder and CEO of Lighthouse AI, to discuss the revolutionary approach his company is taking towards automating pharmacy compliance. Singh delves into how Lighthouse AI leverages artificial intelligence to simplify the complex and ever-changing landscape of pharmacy regulations, ensuring pharmacies can efficiently navigate compliance requirements across different jurisdictions. This candid conversation sheds light on the technology driving the future of pharmacy compliance, promising to transform the traditional, labor-intensive processes into an automated, efficient, and error-free system. https://lighthouseai.com/ www.parcelhealth.co/ https://www.bizofpharmpod.com/

In this enlightening episode, we dive into the world of pharmacy beyond the counters and shelves with the creators of the compelling documentary "Harmacy." Dr. Anaïs (Webster) Mennuti and Dr. Kristin Speer join host Mike Koelzer to shed light on their journey, challenges, and the transformative shift in their project's direction. Sponsor: https://www.parcelhealth.co/ https://www.harmacyfilm.com Guests: Dr. Anaïs (Webster) Mennuti, a dedicated pharmacist and the co-director/producer of "Harmacy," shares her insights from the front lines in Oregon's hospital systems. Dr. Kristin Speer, also a pharmacist, lends her expertise as a co-producer and a pivotal figure in the Psychedelic Pharmacist Association, discussing the broader implications of pharmacy practices. Discussion Highlights: Title Evolution: The documentary, initially titled "Would You Like Shots With That?," has undergone a significant rebranding to "Harmacy," a change inspired by Hollywood consultants' advice for broader appeal and clarity. Core Themes: The project started as a focus on labor rights within retail chain pharmacies but expanded to encompass the deeper, systemic issues plaguing the pharmacy world, hinting at a broader "Harmacy" rather than a caring environment. Challenges Faced: The journey to bring this documentary to life is not without its obstacles, from funding hurdles to gaining cooperation from the industry's higher echelons. Anaïs and Kristin discuss the reluctance of top pharmacy chains and PBMs to engage, highlighting the importance of presenting a balanced view by including various perspectives in their narrative. The Role of Pharmacy: The conversation delves into the identity crisis within the profession, emphasizing the need for pharmacists to become better self-advocates. The documentary aims to spark a conversation on the value pharmacists bring to healthcare and the potential for their role to evolve positively if systemic issues are addressed. Future Steps and Funding: With a detailed business plan and a partnership with consulting producer Scott DuPont, the team is optimistic about reaching their funding goals to continue production. The documentary seeks not only to highlight the challenges but also to explore potential solutions and encourage a collective push towards systemic reform. Call to Action: The episode concludes with an invitation to the pharmacy community and the general public to support the documentary's mission. By shedding light on the untold stories of the pharmacy world, "Harmacy" aims to catalyze change and advocate for a profession that is integral to public health. For More Information: Visit harmacyfilm.com for updates, insights, and ways to support this vital project. Join us next week for another engaging conversation on The Business of Pharmacy Podcast™, where we continue to explore the intersections of health, policy, and the business shaping the future of pharmacy.

In an industry where wholesalers often undermine pharmacies, Brett Louderback, a dedicated pharmacist and first-time store owner in Nebraska, opens up about his path to pharmacy ownership and the creation of his consulting group. This episode delves into the pivotal insights from a car dealer that significantly shaped Brett's business strategy in the pharmacy sector: "You don't make money at the sale. You make it at the purchase." This philosophy is especially relevant in the context of the challenges pharmacies face with wholesalers, highlighting the importance of strategic acquisitions and negotiations. https://www.obrxa.com Sponsored by https://www.parcelhealth.co Key Discussion Points: Leadership Philosophy: Transition from a "benevolent dictatorship" to collaborative leadership with business partner Steve Bullock and the role of mentor Barry Kubo in shaping Brett's business acumen. The Business of Pharmacy: The evolution of Brett's pharmacy practice from traditional services to embracing consulting, recognizing the potential beyond the pharmacy counter. The conversation explores the critical aspect of identifying new business opportunities and core savings in the niche market of independent pharmacies. Challenges with Wholesalers and PBMs: A candid discussion on the struggles independent pharmacies face with wholesalers, PSAs, and PBMs, highlighting the opaque practices that jeopardize pharmacy profitability and sustainability. Financial Strategies and the Future of Pharmacy: Brett outlines four pillars crucial for negotiating with wholesalers, emphasizing the need for independent pharmacies to reclaim their financial footing and exploring potential reforms in pharmacy contracting and reimbursement models. Advocacy and Vision for Change: The episode touches on Brett's passion for addressing systemic issues within the pharmacy industry, including the dire need for transparency, accountability, and fair compensation practices. Brett's encounter with Senator Grassley is discussed, underscoring the significant policy decisions affecting pharmacy practice. Personal Reflections and Advice: Brett shares his thoughts on the future of pharmacy, pondering the decisions that aspiring pharmacists and current professionals face in an ever-changing healthcare landscape.