In Volusia County, Florida a newly hired pharmacy tech was arrested for stealing more than a dozen bottles of prescription drugs. This is the second drug arrest in three weeks, with the first arrest made on May 25, 2018.
Last January 12, 2018, a Houston man was convicted by a Fort Bend County jury of felony misapplication of fiduciary property. Jorge Alberto Perez was caught stealing from the pharmacy when an internal audit showed a shortage of prescription drugs in the period of 2009 to 2010.
These cases of theft cost pharmacies major losses. In 2011, the cases of employee theft total an average of $996.
But with the outrageous prices of prescription drugs and the lure of controlled substances, pharmacy theft is a potential risk in a pharmaceutical business.
Pharmacy personal steal because of:
According to a study conducted by the Auburn University's Harrison School of Pharmacy, approximately 10% of pharmacists become chemically impaired at some point in their career.
A survey conducted by the University of Georgia also showed that:
These numbers show that the issue of internal theft should be addressed once and for all. It is the best way to prevent business loss and ensure theft doesn't go unchecked.
How to Prevent Pharmacy Internal Theft
Vet employees thoroughly
Didn't they say that prevention is better than cure? Before you take anyone on board, it is important to conduct thorough reference and background checks. Due to lack of prosecution, embezzlers and thieves often move from one practice to the next. Don't be the next victim.
Treat your staff well
They will think twice about stealing from you if they have competitive salaries, benefits, and other perks. Combine that with consistent coaching and feedback and your staff would feel as much a part and accountable with your pharmacy as you are.
Implement accounting controls
Financial transactions should be carried out by trusted individuals.
Different people should handle different financial transactions—review of electronic transfers, prepare checks, sign checks, and regular EHR reconciliation.
In addition, appoint partners to conduct periodic spot checks and hire an independent accountant to review the financial records of your pharmacy.
Implement point-of-sale (POS) solutions
This is one way to ensure that there is no conflict of interest to your practice. Thieves and embezzlers are capable of many things, including fabricating vendors. So make sure that you verified vendors and run a thorough check.
Theft of any kind is often a combination of motive and opportunity. So make sure that your pharmacy leaves no opportunity for employees to steal from you. Set up the security measures listed above to deter and prevent internal theft.
American Pharmacy Purchasing Alliance Acquires Prestige Medical Group Pharmaceutical Solutions in Canton Michigan
- As a provider of pharmaceutical solutions, PMG complements APPA and its objectives.
- The acquisition will boost Group Purchasing Concierge services.
American Pharmacy Purchasing Alliance (APPA) recently acquired Prestige Medical Group (PMG) Pharmaceutical Solutions, a move that will increase and improve services provided to APPA members, particularly with group purchasing power.
PMG offers next-day delivery capabilities within the US, and Transaction Data compliant products.
This brings several benefits to APPA independent pharmacy members.
Members can take advantage of the group negotiated contracts to save money, time, and effort when ordering pharmaceuticals.
Wholesale purchasing of pharmaceutical products is one of the hurdles that independent pharmacy owners face since success often requires expert representation. APPA has found a way to remove the hurdles and ensure significant savings for its members.
No need for them to master how to negotiate prices or about rebates, terms, etc.
The complementary Group Purchasing Concierge service is a value-added program that offers an Employee Discount Program, Pharmacy Education, and a Government Affairs program.
Members will also receive support for a wide spectrum of the best business practices without any cost or fees.
The American Pharmacy Purchasing Alliance brings together pharmaceutical experts and professionals to boost the significance of pharmaceutical purchasing in the industry of pharmacy and patient care. From pharmacy buyers to non-profit private purchasing companies, APPA provides the tools, knowledge, and expertise to ensure that the specialized industry of pharmaceutical purchasing is pushed to the forefront. Visit APPA in their new corporate office located at 7940 N. Lilley Rd. Suite A-110
“You can’t limit yourself myopically in your industry”
After recently attending an auto-show convention in Los Angeles, CA it taught me one thing. Times are really changing.
I was very impressed by the amount of simulation games and activities that were going on. It appears the auto industry has already figured it out. They’ve mastered how to create customer engagement. It’s called “enough showcasing and start innovating”
It was no surprise to me that the companies that had the simulating games had all the attention and engagement. What will be your draw in?
Why is that we keep bringing the same lousy ideas to Trade shows.
We’ll then go back and ponder on why we didn’t make a return on our investment. Well, the times have changed and we can’t keep using conventional wisdom.
The conventional way of marketing no longer works. With hundreds of booths fighting for attention, why are you worth someone’s time? Are you even worth talking about? How are you noticeable?
Attendees want more action and we’re responsible of giving it to them!
In order to innovate, I think it can be wise we start attending conferences outside of our industry to get ideas.
Bigger is not always better
Too many times we associate bigger with better. Or, we match bigger with value. According to Adweek’s article, sixty-four percent (64%) of marketers have been disappointed with larger trade shows.
This comes as no surprise. Have you ever thought why? The bigger the event, obviously the more competition. The bigger the event, the less time people have. The bigger the event, the more cost will be spent for booth space.
Check the stats
Top reasons cited included:
Let’s reflect back to our child prodigy. I’m sure you all remember the game “Where’s Waldo”. This game was a classic. We all know how hard it was to find Waldo.
The smaller the event, the more meaningful/impactful
Marketers have had a more favorable opinion with smaller conventions.
Take PatherRx Specialty Pharmacy. This has been a company that has stuck out to me for years. It’s a specialty pharmacy that primarily services rare disease disorders and orphan medications.
Population size for orphan medications if you can guess? Roughly 200,000. Yet, this company is ranked as one of the fastest growing companies with a 3-year growth rate of 13,380 percent.
Have you ever wondered why? They don’t market to the masses. They stay small and have a niche market where they can easily engage and connect to customers.
Start with a digital footprint
Simply relying on just one form of marketing in such a competitive market, is hard to get your message across and turn it into a sale.
Have you ever thought about how hard it even is to get someone to try something for FREE!. People value time and hate for it to be wasted. With so many options, what’s your inertia advantage? How are you noticeable and remarkable to the consumer?
Spending thousands of dollars on travel, airfare, food, and hotel stay for a trade show, without the proper digital marketing is worthless. You’re wasting your time and money.
The rule of 7 is the old marketing adage. Prospects need to see and hear your message at least 7 times, before they even take action. You have to create noise and become blissful.
The crazy thing about marketing is, peoples needs and wants change on a daily basis. You can get stellar results today and get poor results tomorrow.
Take email marketing for example. It was effective a few years ago and now it’s just about dead. Why do you think we see more spammers? It only makes it harder for emails to be trusted.
Infographics and informational marketing is what more consumers are clinging to. This helps start the sales cycle. 1. Build the relationship 2. Recognize the need 3. Form a solution 4. Deliver and close the sell 5. Follow up and create retention.
Too many times we skip a step, which causes our marketing to become lousy and ineffective. A great product with lousy marketing gets you nowhere.
To understand more about what I’m talking about. Have you ever heard of the traffic temperature? Check it out from Neil Patel’s blog “How to Skyrocket your content marketing with cost effective social media ads”:
Cold: Your brand hasn’t been noticed yet. Nobody knows who you are. This is where the brand creation starts by promoting Blogs, Social Media Ads, Content Video, etc. This is where the Trust begins.
Warm: Traffic has seen your brand at least twice. You’re starting to create engagement. The consumers are aware of who you are but, still not ready to convert. This is where we can start releasing e-books, video marketing, and free trials to our services.
Hot: Traffic has become full aware of our brand and on the cusp of ready to convert to a sale. This is where we start showing up at events/trade-shows, and sending out surveys.
We have the consumers trust, so we can expect honesty from surveys and their attention at trade shows.
If you noticed, infographics and informational marketing, such as blogging was in the first step of the cold zone.
Blogs help gain our customers trust and long-lasting relationship. Why? Because we’re are providing valuable information that is worth their time reading at NO COST.
In hind set, before we spend massive dollars at annual trade shows, It’s important we build a strong digital footprint in our industry.
As we’re building a digital footprint, it’s important we are asking ourselves the right questions. It’s not about counting how many followers we get each week, but how many people are engaged to our message and committed to our brand. “It’s better for our message to be loved by 100 people, than be liked by a million”.
By 2024, the global market for durable medical equipment (DME) is expected to reach over $240 billion, based on Grand View’s Research report. To pharmacies and related business, this promises more profit and revenue should they decide to invest in such equipment.
With the offer of government funding and public-private partnership into the mix, even small players will have an opportunity to provide DME and spur market growth. The growing number of the geriatric population is also a key factor in the increase of demands for DME. After all, the geriatric population is the most prone to chronic diseases, requiring long-term care and the need for equipment that lasts a long time. The prevalence of chronic disorders would also contribute to the market growth of DME.
With these facts and figures, anyone involved in the pharmaceutical industry should find ways to take advantage and move forward.
This refers to any equipment that aid in therapeutic relief, served mainly for medical purposes. It is not limited to wheelchairs – manual or electric, hospital beds, oxygen, ventilators, kidney machines, but also includes canes, crutches, bili light, bili blankets, nebulizers and many others.
It can be any medical equipment that can withstand repeated use, a bit of abuse, and is reusable. It should be appropriate for home use as well.
Not anyone can have DME. It must be prescribed by a physician and provided by a licensed provider. A DME supplier accreditation and exemption must be obtained by anyone who wishes to sell such equipment as specified by the Department of Health and Human Services.
Benefits of DME to Supplier and Patient
Based on market data, independent pharmacies should venture into DME supply. With a significant growth for years to come, starting as early as now can prove financially advantageous. They can also do their share in helping patients take better control of their lives, even when saddled with a chronic disease.
With a supply of durable medical equipment (DME), you can:
Given these benefits, selling durable medical equipment should be something an every independent pharmacy owner should consider adding to their store. Take advantage of this billion dollar business.
The Right Ways to Deal with a Disgruntled Former Employee Online and Offline
Firing an employee has its consequences. And a disgruntled former employee has the ability to destroy your company's reputation by badmouthing or spreading rumors. With the thought that they have nothing to lose or they simply want to exact vengeance, they can be quite vindictive.
What can you do to minimize the damage? How should you react so as not to worsen the situation?
What you do and how you react depends on the channel used. However, the premise behind the actions you take is the same.
On social media
What better way for a former employee to speak negatively about your company to a bigger audience than through social media?
Because anyone can say anything about everyone in such platforms, the damage can be catastrophic. Imagine if partners, vendors, and prospective clients get to read a disgruntled employee's negative comments?
Your company is sure to be fodder for wild speculations and bad talks.
How you handle the situation can douse the fire or fuel it. Because everyone is watching, you need to tread carefully.
Address the former employee directly
This is the most practical approach, with the situation discussed between the parties involved and no one else. There are different ways to do this.
Pursue legal action
This especially applies to the private sector where an employer is within their rights to sue a foul-mouthed former employee. You can send a cease and desist as a scare tactic. Or file a suit when the former doesn't work.
Issue a public statement
Most of the time, if you don't react to someone's negative comments, many would speculate that the accusations are true. If dealing with a problem privately doesn't work, issue a statement that denies all allegations and expresses regret that the former employee refused to deal with the matter privately.
It is important that, when dealing with this kind of situation on social media, you remain diplomatic and in control. Never stoop to a disgruntled employee’s level.
Given this kind of possibility, it is better to be proactive and take steps to ensure that terminating an employee will not result in a social media circus. Create a social media policy that outlines rules of engagement for employees.
In the real world
Regardless of the method that a former employee uses in harassing your business, follow the same approach as you would on social media.
Reach out privately first.
If this doesn't work, focus on what matters most—your company and your active employees.
To keep the boat from rocking too much, so to speak, you should:
It is not enough to deny accusations. You should also show everyone that you operate by principles and sway public opinion in your favor.
In the event that harassment takes physical form and your employees are in danger, take steps to protect them. Report any threats made and, when a former employee shows up at your place of business angry, contact the proper authorities.
Remember to document everything. This will prove handy when you have to pursue legal action.
(Muster, IN) Rxeed.com is a new web-based prescription marketplace, that connects consumers with their neighborhood retail pharmacies, specialty pharmacies and others. In addition, it connects pharmacy owners with top wholesalers, allowing the owner to search inventories of available prescriptions. Finally, it creates a platform for pharmacy owners to reach out to other independent pharmacies and purchase prescriptions for shortage or back-order issues. This type of platform is the first of its kind, to bring together consumers, independent pharmacies and wholesalers in one place.
The website was created by Omar Hassad, pharmacist and local owner of Tinley Park Apothecary in Tinley Park, IL. He developed it after experiencing frustration with negative reimbursement from insurance companies, spending thousands of dollars trying to find new customers, and several hours dedicated to finding the cheapest prices for medications. " I firmly believe that Rxeed platform will forever change the way pharmacies will interact with consumers and wholesalers, " stated Founder and CEO Omar Hassad. Consumers now have the power to choose how much they pay for prescriptions by letting local independent pharmacies bid their lowest price for the medication and required services. Once a bid is accepted, the consumer is connected with their local pharmacy, giving the pharmacy owner an opportunity to gain new customers at a minimal cost. Using the “Locate a Medication” feature, a consumer can easily find which local pharmacies have the medication in stock. This convenient feature saves the consumer time spending hours on the phone, and gets the medication needed in their hands quicker. Consumers also have the option to locate compounding pharmacies and receive a comprehensive medical review.
For the independent pharmacy owner, he or she can purchase prescription drugs at a substantial discount, and in small quantities. This can be for drugs in short supply, a specific patient need, or when there is a public health emergency. There is no charge to join, the only fees are a small transaction percentage when prescriptions are bought and sold among pharmacy owners. For additional information on this new platform, go to www.rxeed.com, or call 1-833-697-9333.
Winners of the 2018 APPA Pharmaceutical Industry Awards
APPA recognizes outstanding performance in the Pharmaceutical Industry
2018 marks a wonderful kick-off to APPA’s fourth anniversary and the alliance is thrilled to acknowledge superior commitment and contribution to the industry.
With twelve categories selected by an industry survey, the awards recognize companies and individuals for their innovation, dedication, and best-in-class service.
The winners, eight companies, one school and three individuals, will be honored at a prestigious awards ceremony - the “Oscars” - for the Pharmaceutical Industry scheduled to take place on June 8, 2018, at the national convention, PharmaCon Expo in Orlando, FL.
Here are the winners of the 2018 Pharmaceutical Industry awards:
• Independent Pharmacy of The Year - Benzer Pharmacy Tampa, FL
• Pharmacy School of The Year - University of Pittsburgh
• Pharmacy Manufacturer of The Year - Merck & Co.
• Pharmacy Technology of The Year - PrescribeWellness
• Secondary Wholesaler of The Year - Republic Pharmaceuticals
• Pharmacy Wholesaler of The Year - McKesson
• Specialty Pharmacy of The Year - PantheRx
• Pharmacy Entrepreneur of The Year - Al Babbington - PrescribeWellness
• Pharmaceutical Representative of The Year - Marc Weiss - AmerisourceBergen, Florida
• Hospital Pharmacy of The Year - Kaiser Permanente Hospitals
• Industry News Provider of The Year - Pharmacy Times
• CEO of The Year - Michael Castagna - MannKind Corp
For more information about the awards: https://joinappa.com/awards
For more information about PharmaCon go to: https://joinappa.com/events
Call, text us at 877-570-2665 or email us at email@example.com.
American Pharmacy Purchasing Alliance (APPA) and H. D. Smith Announce Partnership
Tampa, FL: February 22, 2018 – The American Pharmacy Purchasing Alliance (APPA), today announced a partnership with H. D. Smith, a national pharmaceutical wholesaler dedicated to the success of community pharmacies.
The partnership allows APPA members access to H. D. Smith’s full product line, including its formulary of 9,000 generic Rx items.
APPA members will also build on their already successful businesses through H. D. Smith’s consultant-style account management.
H. D. Smith is a healthcare distribution company with locations across the United States. It provides full-line distribution of brand, generic and specialty drugs, as well as other services for manufacturers and health care providers.
“We have a unique offering to the community pharmacy market, and especially buying groups who partner with us,” says Bob Appleby, president, H. D. Smith. “As a wholly owned subsidiary of AmerisourceBergen, we can offer pharmacies the H. D. Smith experience we are known for, with additional access to the resources of AmerisourceBergen.”
Currently, APPA provides its members with an array of benefits including creating a complimentary group purchasing concierge service that helps independent pharmacies with their purchasing needs, including CE credits to an employee discount benefit, solutions for serving specialty pharmacy patients and advocacy on legislative issues.
APPA member benefits extend beyond the significant savings we provide through our group purchasing services. While group purchasing is at the core of what we do, APPA is committed to offering additional value to help our members grow and excel.
H. D. Smith customers include retail and specialty pharmacies, long-term care facilities, institutional and hospital systems, and independent physicians and clinics.
APPA on the other hand, is a community of pharmaceutical experts and professionals dedicated to the recognition and advancement of the specialized industry of pharmaceutical purchasing. The APPA community is comprised of but not limited to:
“This is indeed a valuable partnership as our goal is to support our members across the spectrum of best business practices. And all of these programs are value-adds, meaning APPA members have direct access to the opportunities,” Philip concludes.
For more information about the APPA Buying group “Group Purchasing Solutions” (GPS) go to: http://joinappa.com/Group-Purchasing
About H. D. Smith
H. D. Smith is among the largest national pharmaceutical wholesalers, with services and solutions for manufacturers and healthcare providers. Focused on the success of community pharmacies, H. D. Smith provides a complete line of prescription, over-the-counter and home healthcare products, and a wide array of business solutions, for pharmacies across the U.S. The company has distribution facilities in all major markets. H. D. Smith also operates distribution companies Smith Medical Partners and Valley Wholesale Drug. Visit hdsmith.com for more information.
About American Pharmacy Purchasing Alliance
The American Pharmacy Purchasing Alliance is a leading pharmacy purchasing association dedicated to serving the needs of its members through education, networking, and the delivery of a unified voice for all participants in the pharmacy purchasing industry. Through ongoing collaboration, our alliance creates an environment that encourages the exchange of ideas and information, increases productivity through new technology, and furthers legislation designed to benefit our industry. For more information, visit http://www.joinappa.com
In you are looking for effective and efficient pharmaceutical purchasing strategies that will conform to health care reforms and new hospital and health systems, then join APPA at: https://joinappa.com/Join-us
Contact: Philip Woods
Working as a Hospital Pharmacy Buyer is not suitable for every individual. These individuals are assigned to manage the largest cost for the hospitals. All of them need advanced skills that take time, training and additional education to master. A hospital pharmacy buyer has many roles. These roles require skills in cost-effective procurement, understanding vendor contracts, budgets, 340B purchasing where applicable, generic forecasting, inventory management and a number of other initiatives designed to reduce drug waste and expiring medications.
Although many areas in the pharmacy have advanced and adopted many new technologies; most pharmacy procurement in hospitals and health systems is performed exactly as it was 15 years ago. We all have seen many such hospitals and health systems where inventory is in the poorest conditions. This tremendous holding cost poses significant risk to the pharmacy for waste and expired medications. Reducing holding cost and cash tied up in inventory increases net income and profitability for the pharmacy department and the hospital. Recommendations suggest that a minimum target goal of 12 recorded turns is reasonable for any hospital or health system pharmacy.
What is a 340B Drug Pricing Program?
The 340B Drug Discount Program is a U.S federal government program, which was created in 1992. It requires drug manufacturers to provide outpatient drugs to eligible health care organizations/covered entities at significantly reduced prices. The purpose of the program was to allow covered bodies to "stretch scarce federal resources as far as possible, reaching more eligible patients and providing more comprehensive services.”
According to a research, overly broad eligibility criteria for hospitals have led to an outburst in the number of hospitals that have come into the 340B program. Today, there are approximately one-third of all hospitals in the country, which participate in the 340B program and get 340B discounts; that number is expected to grow, particularly absent an effort to tighten eligibility requirements.
Eligibility for 340B program
A hospital pharmacy buyer is defined under federal law. Six categories of hospitals are eligible to participate in the program: disproportionate share hospitals (DSHs), children’s hospitals and cancer hospitals exempt from the Medicare prospective payment system, sole community hospitals, rural referral centers, and critical access hospitals (CAH).
What should be done by a Hospital Pharmacy Buyer?
Manage the medicines - The important thing a Hospital Pharmacy Buyer should do is the management of the medicines. He should not buy more medicines, which can expire soon. Adding to it, he should not buy few medicines, which can create a shortage.
Understanding retailer contracts - If you will not understand your retailer, you will not be able to communicate. Communication is the most important thing in any transaction. A hospital pharmacy buyer should able to communicate easily with the vendor or else a great lose can happen.
Budget - Budget is always an important thing, which should be kept in mind in by every hospital pharmacy buyer. After knowing the budget, the next step is to make a list. In that list, one should write the things where he is going to use his money.
American Society of Health-System Pharmacists is another organization, which takes care of all the health records of pharmacy departments. American pharmacy purchasing alliance is a community, which doesn’t have any profit. It helps the hospital pharmacy buyer to buy the products and sell it. American pharmacy purchasing alliance works for their country.
Knowledge - Every hospital should increase the knowledge of their pharmacy buyer. The hospital pharmacy buyer can make the hospital touch the sky. The recruiters should keep in mind the different prospects so that they can attain success with their hospital pharmacy buyers.
Being a retail pharmacist is one of the most common job opportunities for pharmacy professionals, especially because of the growing number of pharmacies all over the world. A retail pharmacist, however, do more than just dispense medicines and other healthcare products. They will be dealing with clients, after all, which is why they also need excellent communication skills. If you are a brand new retail pharmacist, there are some things you need to remember.
DO keep track of significant events and any questions you might encounter on your first day
You can keep a notebook and write down and the things that need to be clarified or dealt with. Do you need to research more on medicine, indications warnings, etc.? Is there a need to improve Pharmacy purchasing policy or best practices based on your experience?
DON’T get stuck on the retail side of things
Being a retail pharmacist should be a stepping stone to something greater, so make sure you don't get stuck with just dispensing medications. You should also take an interest in the business side, particularly the metrics essential to running a retail pharmacy business. Before you direct your attention in doing business, however, you should first familiarize and master retail pharmacy.
DO learn from the veterans
You will learn plenty of things working as a retail pharmacist, but other pharmacists that have been in the business for a long time makes the best teachers. So get to know the veterans in the pharmacy you’re working in and spend time learning from them.
DON’T forget to follow up with some patients
Your job as a retail pharmacist should not stop behind the counter. To develop your skills as a retail pharmacist, it is important that you follow up with some patients, especially when they start a new medication. Even if this is not required of you, patients will surely appreciate your call.
DO master the steps involved in billing
At some point in your career as a retail pharmacist, you might be required to handle billing, which can be quite complex. When given the opportunity, you should take advantage of it and write down all the things you need to remember, such as the BIN number, Medicare Part B bill for test strips, etc. If necessary, create a cheat sheet.
DON’T worry about keeping up
It is normal to worry about the speed with which you take orders, dispense medication, and handle the rest of the process. During peak hours, your speed and skills will be sorely tested. However, keeping up is not about how quick you work, but how you complete a transaction available, software shortcuts, and protocols, among others.
DO keep learning
To get things done right and fast, you should stock up on software, policy and customer knowledge, and other information relevant to your job as a retail pharmacist. You should also develop your own DUR approach, one that you can easily remember and help you succeed with your work. You should also develop counseling habits, so you can provide excellent customer services.
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