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The voice for pharmacy compounding | February 12, 2021

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From APC's President: With great power....


Michael Blaire, RPh, FIACP
APC President

Dear A4PC,

Like Mel Brooks said, “It's good to be da king.”

Sure, being the boss is fun. But whether you call yourself the boss, the CEO, the general manager, or simply the owner, being in charge of a business is as challenging as it is exciting. And in today's business environment, the excitement is even more thrilling, the challenges are even more trying. Massive shifts in technology, dizzying changes in market pressures, demographic transformations in the workforce, increased societal demands, and of course, customers as fussy as ever — they all converge with you in the center of the action.

It’s your choice: You can emerge from this bedlam with a vision, or with a headache. You can dream about the possibilities for success, or dwell on the difficulties. It’s critical, therefore, that when you encounter obstacles you have the tools to overcome them.

APC's first-ever Compounding Pharmacy Owner Summit was conceived to help you discover those tools. Unlike any event in our history, the Owner Summit is a business-focused event that aims to provide useful, actionable information for compounding pharmacy owners and managers. It's not just another "networking" event. It’s a full program covering topics such as growth strategies, staff incentive plans, financial planning, and business valuation.

Several of our corporate patrons will be in attendance showcasing their new ideas, and they'll be eager to share solutions for your specific concerns. We decided not to offer continuing education credit because it would limit the type of subject matter on the program and, frankly, we want the presenters answering your questions, not the other way around.

Finally, don't worry about the networking, because you'll get that, too. The Westin Jekyll Island is a four-star hotel offering plenty of amenities and ample opportunity to meet and exchange ideas with fellow pharmacy owners. Oh, and it's at the beach.

I have been a compounding pharmacy owner for more than 30 years. I judge any business-related book, article, conference or idea on whether it answers "yes" to one of these four questions:

APC's Compounding Pharmacy Owner Summit is a big YES to all four. If you can take home and implement even one idea, it will likely return far in excess the cost of attendance. Your compounding pharmacy prepares unique dosage forms for individual patients every day. Isn't it time there was an event that provided unique solutions for the challenges your pharmacy faces?

Mike

P.S. REGISTER HERE. And remember: The deadline for getting a hotel room at the Westin at APC's special rate is February 26!

Michael Blaire is APC's president; his day job is vice president for government and regulatory affairs at Wedgewood Pharmacy in Scottsdale, Arizona. You can reach him at mblaire@wedgewoodpharmacy.com.

Owner Summit: It's not personal. It's business.

As a compounding pharmacy owner or manager, you wear at least two hats.

Sure, you’re a healthcare provider, and you take seriously your responsibilities to your patients. But you’re also a businessperson, and your ability to care for those patients relies in no small part on navigating marketplace challenges: seizing opportunities, reducing risks, ensuring efficiencies. Success, in other words, depends on how well you run your business.

That’s why APC is hosting its first-ever Compounding Pharmacy Owner Summit, live and in-person, March 25–27 at the Westin at Jekyll Island, Georgia.

It's where owners and managers like you can discover business ideas, solutions, and new opportunities that can boost your businesses.

From "The Best Decision I Made All Year: Ideas from Fellow Owners" to "Maximizing Your Sales Team’s Effectiveness" to "Office Systems That Work" and more, we’re willing to bet you’ll come home with an idea or two that will more than pay for the cost of attending.

Tap the big green button below for complete program, registration, and hotel information.

And hurry: Special APC hotel rates at the Westin are only guaranteed for reservations made by February 26. (Wednesday night March 24 is already sold out, so plan to arrive on the 25th.)

You need to see this ethics video
(and so does your team)

If you attended EduCon 2021, you probably saw Jon Pritchett's session, "The APC Code of Ethics: Ensuring Your Reputation and Legal Standing." It's a powerful video (and a great training tool) with an important message — important enough that we've made it free for everyone to watch and share on APC's updated Code of Ethics page.

Yes, updated. The page (A4PC.org/code) now includes not only the Code itself, but Jon's video, a high-res printable version of the Code, and the latest Pharmacy Compounder Leader newsletter.

NOTE: You can't get CE credit for Jon's presentation unless you attend EduCon. And yes, you still can attend! Every session, including all the CE credit, is available until April 4. Visit A4PC.org/educon2021 to see how.

APC's cBHT Media Campaign Briefing is February 25

Please join APC on February 25 for an important Town Hall briefing: an update on our multi-pronged, multi-year media campaign to save cBHT and protect the lives of millions of Americans who rely on it.

The campaign launches next month! We've raised more than $556,000 toward our goal of $1.5 million, and we've started production on print ads, video presentations, websites, and more.

Get a sneak peek at ad designs, the new website, and our plans for the next six months — plus an update on the production and fundraising.

The Town Hall is February 25, from 3:00–4:00pm EST, via Zoom. It's free and open to all, but you need to register: A4PC.org/225townhall.

(Once you register, check your email and be sure to click the link to add it to your calendar.)

Reminder: FDA warns about remdesivir compounding

IMPORTANT: If you're considering compounding remdesivir, FDA has an important alert with information about potential risks. Scroll down to "Discussion of Risks" for the details.

In short: "FDA cautions against compounding remdesivir drug products under section 503A of the Federal Food, Drug, and Cosmetic Act (FD&C Act)."

The mice can roar

On February 5, the Washington Post ran an op-ed, "Small pharmacies beat big chains at delivering vaccines. Don’t look so shocked" that pointed out how independent pharmacies were able to deliver the Covid-19 vaccine more effectively than chains. In fact...

Independent pharmacies achieve superior results not despite being small, but because they are small. It’s their local ownership that makes the difference. [...] Lacking top-heavy bureaucracy and rich with local knowledge and relationships, independent pharmacies possess what you might call economies of small scale.

Still, author Stacy Mitchell points out, U.S. business law is aimed at the "ideology of bigness" that it believes — incorrectly — to be more efficient.

Mitchell works for the Institute for Local Self-Reliance, where her focus is "level[ing] the playing field for independent businesses." And in that vein, ILSR is offering a free webinar with Congressman David Cicilline, "Reining in Monopoly Power: Small Businesses & the Push to Strengthen Antitrust Laws."

Policymakers are beginning to understand that bigger ain’t always better, and you can help keep that message strong. The webinar is February 22 from 1:00-2:15pm EST. Plan to attend!

Speaking of small...

Have you taken advantage of any programs from the Small Business Administration?

You can help an ILSR researcher by taking a quick, eight-question survey about your SBA experience. Just click here; it should only take a few minutes. (But please complete it by February 19.)

Coming up

March 2; 2:00-3:00p.m. EST — CE webinar: "Survey of State Compounding Law Changes 2020 and Proposed 2021"

March 26–27, 2021 — APC’s 2021 Compounding Pharmacy Owner Summit

June 10–11, 2021 — PCCA Act Conference (virtual)

September 14–15, 2021 — Compounders on Capitol Hill (mark your calendars!)

ICYMI

Join ARL for a one-hour webinar (worth an hour of CE credit), "Insurance Considerations for Pharmacists and Professional Liability in Compounding." It's Tuesday, February 23 from 1:00 to 2:00 pm EST.

USP's got three virtual compounding courses coming up and you can get early bird and multi-course discounts if you register by March 12.

Click here for more info and to register.

We've hit the 3,200 3,300 mark (!) for testimonials about the effectiveness of cBHT (from patients, prescribers, and compounders). That sounds like a lot, but we need more! The more testimonials we have for each congressional district, the better, so please continue to spread the word: Go to A4PC.org/cbhtandme and tell us your story!

A4PC.org