One-on-One  with IACP President Baylor Rice, RPh, FIACP

IACP President Baylor Rice, RPh, FIACP
Do You Know Where Your IACP Dues and Donations Go?

Thank you for the opportunity to answer a lot of questions I've received over the past year about IACP Fundraising, and to help address some of the concerns I've heard about fundraising efforts in this three-part discussion! In my first One-on-One discussion, I shared our current IACP Member Initiatives, the missions of IACP, IACP Foundation, & IACP COMP PAC, and how you can contribute to each.

I hope to build onto that information in this second One-on-One by providing you with information on how your dues and donations are being utilized in order to help preserve patient access to compounded medications. The IACP Board of Directors and Staff are working tirelessly to ensure that we are strategically applying your contributions to our ongoing efforts, while also being vigilant on where we can be more efficient and save money. 
Clarifying Where Your IACP Dues and Donations Go.

It is vitally important to the IACP Board of Directors and staff that IACP operates in a fully transparent manner. As such, we wish to provide you with a comprehensive view of how we are using your dues and donations in IACP's daily operations. 

IACP  - It costs approximately $1.75 million per year to run IACP. Your donations really do matter, and help us preserve patient access to compounded medications!  Here is an overview I hope will provide clarity on our where your IACP Dues and Donations go.  
Thanks again for the opportunity to answer your questions, and provide you with an inside view of IACP's operations. Keep sending those questions and comments. Let's stay in touch - please email us at [email protected], or call the IACP office at 281.933.8400. 

We are looking forward to debuting all that we are working on and are currently reading through all your feedback to the IACP membership survey! Thank you for being engaged and for being a member and donating to IACP! 

 

 

1. Costs of Government Affairs/Lobbyists approximates $350,000 annually.

 

a. Federal Government Affairs

i. Retaining a Government Affairs/Lobbyists team is one of IACP's primary expenses. It is a significant cost; but, it's vital that we maintain a strong, clear and consistent presence in Washington, D.C. on Capitol Hill.

 

ii. This includes day-to-day lobbying in Washington, D.C. to make certain compounding pharmacists and patients maintain a voice on Capitol Hill!

iii. This also includes tracking of all Congressional hearings, legislation, amendments, and other Congressional activities.

iv. In addition, this includes tracking of all Federal Agency actions and opportunities to comment.

b. State Government Affairs

i. This expense includes State legislative and regulatory tracking data which is shared with IACP members through IACP's Compounders Stateside, posted weekly on our website, and directly emailed to IACP member states where breaking news is occurring so that you can stay up-to-date on State activities.

ii. IACP is drastically increasing our State presence and engagement. We also have drastically ramped up our State efforts by commenting on all State regulations and legislation impacting compounding. We have distributed this information to you in the form of IACP member alerts and in our new weekly IACP News Roundup to make sure you are aware on which state efforts we are weighing in! IACP makes it a priority to comment on all State Regulations/Legislation that impact compounding in order to preserve patient access to compounded medications. 

2. Administrative Costs to Run IACP - Rent, Building and Operational Expenses approximates $200,000 per year.

I am often asked whether IACP Foundation pays for our infrastructure expenses. As such, I wanted to clarify that these expenses are not IACP Foundation expenses. To the contrary, these expenses are IACP expenses which include: 
  • Rent & building; 
  • Office supplies; 
  • Postage & delivery; * 
  • Payroll processing; 
  • Telephone & internet; 
  • Bank service charges;
  • Travel expenses; 
  • Equipment rental; and 
  • Liability insurance.  
* Please note that IACP is transitioning to a digital format for new members and renewals in order to decrease postage, production & delivery costs in our constant effort to make sure that we are using your dues and donations in the best manner to preserve patient access to life-saving medications.

3. Operation Expenses (Accounting Costs, Payroll, IT, all Contractors except Government Affairs). Approximately $650,000 annually.

I am also often asked what IACP pays in terms of operation expenses. Operations expenses include: payroll; accounting services; investment management services; IT support; computer expenses; website hosting/maintenance support; printing & production.

4. Grassroots Efforts - It costs IACP approximately $50,000 annually to maintain grassroots efforts on the IACP and P3 patient advocacy websites. 
 

IACP deeply values grassroots advocacy efforts. Grassroots efforts are vital in order to engage providers and patients and offer the opportunity to have a voice in preserving the very compounded medications on which they rely. However, grassroots efforts are costly and IACP bears these costs entirely. 

After hearing from our IACP members that patients and providers needed a website they could access to obtain clear and easy-to-understand information on compounding, IACP created a Patient Advocacy Website (p3rx.org). We have successfully launched it to more than 150,000 patients, providers, and pharmacists. IACP offers this website as a benefit to DQSA Coalition members as well in order to share resources and have more patients and providers access the patient advocacy website. Let's get the word out! Join as a P3 advocate, today! Running this patient advocacy website has significant costs and is one of the only patient advocacy websites that provides a grassroots channel directly to Congress. We have purchased grassroots services that allow patients, providers, and pharmacists to directly contact their Member of Congress! While this is not an inexpensive endeavor, the patient voice is needed in order to preserve patient access to life-saving compounded medications!

P3 Patient Advocacy Website - IACP bears the full cost for the advocacy website which also includes the Voter Voice advocacy messaging platform to Members of Congress. Other associations have had to give up these valuable platforms because of cost. IACP members have expressed how easy-to-use and critical these tools are for their providers and patients to send messages to the Hill, and we are making every effort to keep these in place.

5. Education and Events cost IACP approximately $500,000 per year.

It is essential that we come together and enjoy spending time with our colleagues while taking part in top-notch educational, regulatory, and legislative CE session. IACP hosts two events a year and webinars:

IACP's Educational Conference focuses on educational sessions and offers members a wide variety of topics including for the 2018 event;

IACP's Compounders on Capitol Hill (CCH) is an annual Washington, D.C. 
fly-in that allows members to spend time learning about regulatory and legislative topics, concluding with Hill Day Congressional meetings! These events are not inexpensive to conduct; but, IACP finds them important in our efforts to preserve patient access to life-saving compounded medications. Your participation is essential and we look forward to seeing you at CCH 2018!

IACP's Webinar Program - IACP AdvanCE - is a one-stop shop to find a comprehensive selection of compounding continuing education that specializes in legislative, regulatory and practice topics. Open to members and non-members, IACP AdvanCE offers a variety of continuing education - customized for pharmacists, pharmacy technicians, physicians, nurses and other healthcare professionals.
Why it's So Vital to Support IACP & IACP COMP PAC for Patient Access!

Thank you to all who have contributed to IACP! We cannot thank you enough. Your contributions are the fuel for getting things done, and we definitely cannot do this without your help. We hope you will continue to donate to IACP and the IACP COMP PAC, and that you will encourage your colleagues to do the same!

As you consider contributing to IACP and IACP COMP PAC, we want you to think about these questions:
  • How important are your patients to you?
  • How important is your patients' continued access to compounded medications?
  • Can you imagine a world where pharmacy compounding is no longer an option?
Please Support IACP and the IACP COMP PAC for Your Patients' Access to Life-Saving Compounded Medications! 
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