Trxade Annual Conference 2018
The Future of Independent Pharmacies
CE’S & SPEAKERS
Join us this year as we embrace the future of pharmacies together and welcome renowned speakers of the pharmaceutical and healthcare industries to the 2018 Trxade Annual Conference. Our goal is to provide you with valuable techniques that will positively affect your Independent Pharmacy through our multiple CE courses offering up to 10 CE credit hours. Below is a list of some of the topics that will be discussed during this year’s conference.
Kevin Sneed¸ Senior Associate Vice President, USF Health Dean, College of Pharmacy
Topic: The Future of Pharmacy
- Review evolving healthcare systems and the emerging accountability measures
- Review current clinical reimbursement models for medical professionals versus pharmacists
- Discuss the role of pharmacists in shared-risk contracting in an evolving healthcare system
- Understand the application of analytics (Big Data) to monitor patient outcomes
- Review methods for achieving biometric data collection from patients
BIO: Dr. Sneed is a tenured Professor and the founding Dean of the USF College of Pharmacy. He also serves as a Senior Associate Vice-President for USF Health. His educational background includes a Bachelor of Science Degree in Biology with a concentration in Microbiology from the University of Central Florida. Dr. Sneed received his Doctor of Pharmacy Degree from Xavier University of Louisiana College of Pharmacy, where he received numerous clinical and leadership awards. He completed an Ambulatory Care Pharmacy Practice Specialty Residency at Bay Pines Veteran’s Administration Medical Center.
He participates in many community endeavors on an annual basis, most notably the Florida Cancer Education Network Men’s Health Forum in Tampa. Dr. Sneed is very active in national and state organizations, among which include NPHA, ASHP, AACP, FPA, FSHP, and Kappa Alpha Psi Fraternity, Inc.
Wealth Management: What They Didn’t Teach You In Pharmacy School
- Help participants understand basic asset protection and risk management strategies to consider at each stage of one’s career
- Provide insight into how to manage debt, cash flow and still save for the future
- Traditional & non-traditional investment strategies available
- Understand what’s in a retirement forecast and when to prepare one
- Introduce estate plan basics, and planning issues often overlooked
At SRQ Wealth, Karin advises clients and oversees the firm’s operations, administration, and marketing. Karin’s two decades of prior business experience in real estate franchising, employee leasing and non-profits have made her well-versed in the accounting and financial planning needs of business owners and working professionals alike.
A Certified Financial Planner practitioner® for the last 17 years, Karin graduated cum laude with a Bachelor of Science degree in Accounting and Finance from Miami University (Ohio), has an MBA in Finance from the University of Arizona and holds a Certified Public Accountant license in the State of Florida.
Karin currently serves as Board Chair of The Selby Foundation, as Vice Chair of the Board for Jewish Family and Children’s Services and is currently an active member of Leadership Florida. She has been Board Chair for Planned Parenthood of Southwest & Central Florida, is a former member of Pines of Sarasota Foundation Board, is past Treasurer of Manatee Tiger Bay Club, and has previously served on the board of the local Financial Planning Association. Karin is past Treasurer for the Bradenton Yacht Club and served for several years on the Manatee Chamber of Commerce’s Small Business Council, the West Bradenton Rotary Club, the Leadership Manatee Alumni Board and the American Business Women’s Association. She writes a financial planning column regularly for The Bradenton Herald.
David P. Mackarey, RPh., AAHIVP
David P. Mackarey, RPh., AAHIVP
Topic: Pharmacogenomics, PGx: Taking It Personally
- Understand PGx & It’s Relationship to Medication Therapy
- Create A Practical Application to Your Pharmacy
- Use A Collaborative Practice Agreement with Physicians to Implement A Successful Program
- Help Physicians Implement & Educate Patients on PGx
- Help Patients Understand Pharmacogenomics
- Educate Patients on The Importance of PGx
- Know the Step-By-Step Process of PGx Test
- Administer the PGx Test
- Explain the Meaning of The Results to The Patient
- Help Physicians Avoid Improper Drug/Dose Choices
- Use Lab Results to Achieve Best Possible Patient Outcomes
Bio: Florida licensed pharmacist, practicing in South Florida for almost 30 years has been selected as president-elect of the FPA. David who is a native of Scranton, Pennsylvania received his Bachelor of Science in Pharmacy from Duquesne University in Pittsburgh where he was the recipient of the prestigious ‘Outstanding Senior Student Award’ from the University.
Rinku Patel, PharmD
Topic: Specialty at Retail: Turning Obstacles into Opportunities
- Describe Specialty Drugs and Specialty Pharmacy Capabilities Profile.
- Discuss Barriers to Entry for Community Pharmacies.
- Review Growth Considerations for Specialty Program.
- How to Evaluate Options for Getting into Specialty Care at Retail.
Bio: Rinku A. Patel, PharmD, is a pharmacist and an entrepreneur dedicated to simplifying the pharmacy care experience for patients using specialty medications. Dr. Patel believes in the fundamental principle of providing patients with a choice to select their pharmacy and their pharmacist for their medications and pharmaceutical care needs. The industry-imposed use of poly-pharmacy on patients ultimately results in poor medication adherence and sub-optimal health outcomes because of increased complexity and disorganized care coordination. The pharmacy and healthcare industry stakeholder must accept and realize their responsibility to patients in reducing their barriers to access and giving them the choice of One Pharmacy Home.TM Dr. Patel earned her Bachelor of Science degree in Pharmacy and her Doctor of Pharmacy degree from Midwestern University, Chicago, Illinois.
Rinku A. Patel, PharmD
Carlos M. Aquino
Carlos M. Aquino
Topic: “How to Survive A DEA Inspection Series: Understanding A DEA Pharmacy Inspection”
- Class Participants Will Familiarize Themselves with The Federal Laws and Regulations Pertaining to Schedules Ii Though V Controlled Substances That Are Used by A Pharmacy That Are Dispensed In A Prescription Form Upon The Pharmacy Receiving A Prescription From A Physician.
- Describe the Types of Criminal and Civil Actions That Can Be Imposed by A Federal Prosecutor’s Office on A Pharmacy, Including The Type Of Fines That Can Be Imposed Through A Criminal Or Civil Action Utilizing The Federal Laws And Regulations Pertaining To The Purchases, Sales, Transfer, Dispensing, Destruction And A Theft Or Lost Of Schedules Ii Through V Controlled Substances.
- Identify the Steps Taken by The Drug Enforcement Administration (DEA) In Enforcing Federal Laws and Regulations, Especially the DEA Office Of Diversion.
- Discuss the DEA Requirements Pertaining to:
- Biennial Inventory
- Use of CSOS (Controlled Substances Ordering System)
- Executed or Voided DEA Form 222 And Invoices
- Power of Attorney
- Theft and Loss
- Drug Destruction
- Storage of Prescriptions
- Review All the Requirements Pertaining to The Writing of a Controlled Substance Prescription by A Physician and the Filling of That Prescription by A Pharmacy. The Subjects Covered Will Also Include Changes A Pharmacist Can Make on A Prescription.
- The Combat Methamphetamine Epidemic Act (Cmea) Will Be Discussed to Include the Requirements by A Retail Pharmacy Of Sales of Products Containing Pseudoephedrine. Also Covered Will Be the Training of a Retail Pharmacy Employee Who Will Be Handling These Products.
- Identify the DEA Requirements Pertaining To Alarm Systems; Pharmacy Security; Hiring of Employees; Proper Drug Disposal; Prevention of Thefts and Losses; And Other Security Issues.
- Identify What Pharmacy Records Are Required by DEA Diversion as Part of A Pharmacy On-Site Audit And Inspection.
Bio: An energetic and results oriented professional with over twenty-eight years of experience with DEA regulatory enforcement and successfully maintaining a high level of customer satisfaction. Applauded by Many Conferences with the DEA for 30 Years and Worked as A DEA Diversion Officer For 15 Years. Skilled in interpreting the Controlled Substances Act (CSA) and Title 21, Code of Federal Regulations (21CFR) for registrants wanting to meet those requirements imposed by these laws and regulations that are enforced by DEA personnel.
Lawrence Barrett, CLU, ChFC, AEP®
Topic: An Independent Pharmacist’s Guide To Business Succession Planning: A Six-Step Planning Process
- Describe the reasons why most business owners neglect or fail to prepare a business succession plan and the five compelling reasons why planning is important.
- Discuss the process to identify the pharmacy owner’s goals including:
- Future annual income
- Level of involvement in the business
- Investment inside and outside the business
- Their legacy
- Values using tools such as SWOT analysis to identify:
- Develop strategy on identifying the needs, goals and expectations of family, other owners, and key employees. Understanding the real impact these stakeholders have on the continued success of your pharmacy.
- Describe financial and legal options to transition your business including:
- Business Value
- Gifting appreciating stock to family members
- Using supplemental retirement plans
- Creating grantor or charitable trusts
- Employee Stock Ownership Plan (ESOP)
- Preventing the sale of the business to a chain
- Discuss the purpose, structure and funding options of a buy-sell agreement for triggering events including death, disability, divorce and retirement, and how it can protect your financial independence and estate plan.
Bio: Lawrence C. Barret, CLU, ChFC, AEP® received his BS/Management & Marketing (1971) and his BSBA (2006) from Ohio Northern University. Upon graduation in 1971, he entered the insurance and investments business, working primarily in business and professional markets. Besides holding the CLU (Chartered Life Underwriter), ChFC (Chartered Financial Consultant) and AEP® (Accredited Estate Planner) designations, he is a General Securities Principal. Mr. Barrett has spent 45+ years in sales management. He owns Independent Pharmacy Consulting Group, LLC, DiBart Insurance Agency Corporation and Chase Financial Services, is a Premier Partner* with Sagemark Consulting (Lincoln Financial Advisors) and a Register Representative for Lincoln Financial Advisors. He also does substantial personal production in the Financial, Estate and Business Succession Planning arena. Lawrence Barrett has been a consistent qualifier for the Million Dollar Round Table*, National Sales Achievement Award, National Quality Award, and the 5 Star Wealth Manager Award*. Professional memberships include CAIFA, NAIFA, SFSP, and the Estate Planning Council.
Lawrence Barrett, ChFC
Nick Brooke, (Director at Amplicare/iMedicare)
Topic: DIR Fee Mitigation – Amplicare
- Understand why DIRs were implemented.
- Understand the evolution of DIRs.
- Understand how each type of DIR will impact the pharmacy’s bottom line.
- Develop an understanding of performance measurements.
- Determining which performance measurements to focus on.
- Help pharmacies develop an actionable plan to lower their DIRs.
Bio: Mr. Brooke was born and raised in New Jersey. He went to Elon University in North Carolina and graduated with a degree in Strategic Communications. With a passion for improving healthcare, he joined iMedicare as a profit coach, just when DIR fees were first making their way into the Med D contracts. Fascinated that post-sale reductions were manifesting across the industry, without savings being passed along to the patient while putting independent pharmacies out of business, he made it his mission to understand them inside and out. Currently, Mr. Brooke is the Director of Industry Relations at Amplicare. He manages Amplicare’s partnerships and leads the research team. Each open enrollment he reads through every PSAO’s contracts (provided by member pharmacies) affording him a unique bird’s eye view of the intricacies of each plan, their DIRs and performance measurement structure
Jimmy Neil, MBA (General Manager, Live Oak Bank |The largest investor in community Pharmacies)
Topic: “Cash: It’s what every Pharmacy needs; How to position yourself and your Pharmacy to be properly capitalized”.
- Properly capitalizing your pharmacy acquisition includes much more than just financing the prescription files and inventory. You will also want to consider financing the building where you operate your pharmacy and growth through the acquisition of competitor files.
- Live Oak Bank- Our mission is to create an unprecedented banking experience for small business owners nationwide, through service and technology. Live Oak Bank is not your traditional bank. With a laser focus on innovation in finance and technology, we bring efficiency and excellence to the lending process. We believe deeply in personal service and focus on taking care of our customers throughout the life of the relationship.
- Live Oak Bank knows pharmacy. In fact, you could argue we’re the largest investor in community pharmacies, lending close to $700 million to the industry since 2010. Working with a lender who understands your business results in a smoother, more efficient lending process—and a loan package that meets your specific needs, whether you want to refinance, make an acquisition or sell your pharmacy.
Bio: Jimmy Neil is the General Manager for Live Oak’s Pharmacy Division. He is the former Vice President of Pharmacy Transition and Investment Strategy for the Retail Independent segment of a Fortune 20 Drug Distributor. Jimmy earned his MBA from Louisiana State University in 1994 where he went on to manage a team of commercial lenders for the U.S. Small Business Administration (SBA). He spent four years with the SBA, participating in lending to more than 1,500 small businesses before joining a major drug wholesaler in 1998 as a Regional Credit Manager. Jimmy has worked with more than 1,000 pharmacies in various stages of ownership transition – operation assessments, sales, mergers, acquisitions, financings, partnership buyouts, valuations and tax mitigation strategies. He is also a principal in two community pharmacies in Louisiana.
Jimmy Neil, MBA
Presentation Title: Basic Science of the Endocannabinoid System and Cannabidiol
Sara Jane Ward, PhD
Assistant Professor of Pharmacology, Center for Substance Abuse Research, Lewis Katz School of Medicine, Temple University
Presentation Title: Understanding CBD: Current Research, Trends and Safety Guidelines
Alex Capano, DNP, CRNP, FNP – BC
Medical Director, Ananda Professional
Faculty Member, Lambert Center for the Study of Medicinal Cannabis and Hemp at Thomas Jefferson University
Presentation Title: The Legal Landscape for Hemp and Hemp-Derived CBD
Brian Furnish, Director of Global Production, Ananda Professional
Presentation Title: The Opportunity that CBD holds for Patients and Independent Pharmacies
Jerry Barnette, Jr., RPh
CBD Pharmacy Pioneer, Independent Multiple Store Owner
Discussion Panel: “Cannabinoids, CBD and Independent Pharmacy”
- The Endocannabinoid System, Cannabidiol (CBD) and Clinical Data on CBD presented by Alex Capano, DNP – Medical Director, Ecofibre Industries Operations
- The Legal Landscape for Hemp and Hemp-Derived CBD presented by Brian Furnish – Director of Global Production, Ecofibre Industries Operations
- The Opportunity that CBD holds for Patients and Independent Pharmacies presented by Jerry Barnette, Jr. – Independent Multiple Store Pharmacy Owner
New avenue for Revenue, this topic has a lot of value for an independent pharmacy. In Feb 2018, one pharmacy introduced cannabis in VA and is currently making $40,000 profits per month on $80,000 revenues per month. Yes, it is per month!!! This topic has a lot of value for Independent Pharmacy.
Joseph J. Bogdan, Pharm. D., J.D.
Joseph J. Bogdan, Pharm. D., J.D.
Topic: PBM Audits: Are you ready for what could come your way?
- Discuss Pharmacy Benefit Managers, Third Party and Government Insurance Plan involvement with pharmacy practice and associated audits.
- Discuss the various types of pharmacy audits including PBM, Third Party and Government plans i.e. Medicare and Medicaid.
- Describe pharmacy audit triggers and flags within pharmacy practice.
- Present proactive practices a pharmacy could execute to prevent pharmacy audit recoupment.
- Pre-audit preparation after receiving notice of an audit.
- What to do the day of an on-site audit.
- What to do after the audit and how to properly address audit findings
- Describe the role of arbitration as an option to address audit results.
Bio: Doctor Bogdan is an attorney and a pharmacist. In 1989, Jay attended the University of Illinois College of Pharmacy and received his Pharmaceutical Doctorate. While working full time, Jay received his Juris Doctor from The John Marshall Law School and was admitted to the State of Illinois Bar Admission in 2000. With over 16 years of experience, he represents clients in healthcare legal matters to governmental agencies, addresses license issues for healthcare providers and entities. He represents pharmacies, wholesale distributors, and long-term care facilities to regulatory agencies provide consultation services to clients for accreditation and healthcare related matters including audits, and lectures to professional organizations pertaining to healthcare legal matters.
For over 16 years, the Law Offices of Joseph J. Bogdan, LLC has been called upon as an expert witness in pharmacy cases. Joseph Bogdan is both an attorney and a registered pharmacist. He holds a Doctorate in Pharmacy and is a board member of the Illinois Pharmacist Association. Attorney Bogdan also teaches Pharmacy Law at three Chicago-area universities. He represents pharmacies, wholesale distributors, and long-term care facilities to regulatory agencies, provides consultation services to clients for accreditation and healthcare related matters including audits, and lectures to professional organizations pertaining to healthcare legal matters.
Jeffrey S. Baird, Esq.
Topic: FDA Jurisdiction Assertion
Prevention is Key: Steps to Prepare for and Respond to an FDA Inspection or Enforcement Action
- Over the decades, there has been an uneasy truce between pharmacies and the FDA. Pharmacies are regulated by their state boards; the FDA steps in when it concludes that the pharmacy has crossed the line over into the manufacturing arena. However, the FDA is becoming increasingly aggressive in attempting to assert jurisdiction over pharmacies. There are several reasons for this with the main reason being the FDA’s concern that state pharmacy boards are not adequately overseeing compounding pharmacies. In addition, the New England Compounding Center tragedy has cast a spotlight on compounding pharmacies.
- This program will discuss the legal basis upon which the FDA can assert jurisdiction over pharmacies, the legal arguments against such an assertion of jurisdiction, existing and potential legislation that gives broader authority to the FDA, the steps that the pharmacy can take to prepare for an FDA inspection, and steps that the pharmacy can take to reduce the risk of an FDA inspection or enforcement action. This program will discuss the steps that the FDA follows in conducting an inspection or enforcement action. Lastly, this program will lay out steps that the pharmacy can take to respond to an FDA inspection/enforcement action.
Bio: Jeffrey S. Baird, Esq., is Chairman of the Health Care Group at Brown & Fortunato, P.C. a law firm based in Amarillo, Texas. Mr. Baird represents pharmacies, HME companies and other healthcare providers throughout the United State. He works closely with governmental agencies. MR. Baird has authored numerous articles and is a frequent lecturer throughout the county. He serves on the Medtrade Education Advisory Board and the AAHomecare Regulatory Council. MR. Baird is Board Certified in Health Law by the Texas Board of Legal Specialization.
Jeffrey S. Baird, Esq.