Here are the 10 most exciting companies I saw at the 2022 NCPA annual convention.
NCPA held its 2022 annual convention in Kansas City. I know Ian kept some people home, as did some sickness. Fear not if you missed attending! I will recap the most exciting and profit-creating companies I saw on the exhibitor floor. Picking out the diamonds in the rough can be tricky, even if you were there.
Narrowing Down Your Options
I love doing exhibitor tours of the trade show floor. I often see unique ways of leveraging companies’ services and products for independent pharmacies. And getting business cards and flyers from 80 companies isn’t helping you. You must prioritize and say no to other opportunities to successfully implement any idea. I have pared down the sea of companies to the key few I think you should leverage to improve your patients’ lives and your pharmacy’s profit.
These NCPA exhibitors are in no particular order…
Real Value Products – firstname.lastname@example.org Website
Real Value Products is one of my top secondary wholesalers. They carry thousands of NDCs, all with low-cost upfront pricing. You don’t have to wait on a rebate to make their products profitable. They also stock some of my favorite niche products, such as Clemastine. A unique offering from Real Value Products is their staff. Their staff is highly knowledgeable and will help you improve your pharmacy. You can also earn EZSCRIPTRx credits!
BetterRx – email@example.com Website
Most pharmacies run away from hospice prescriptions. The PBMs have made dispensing hospice prescriptions a horror. However, hospice prescriptions can be rewarding and profitable in a transparent system. BetterRx helps create a process where the hospice patient benefits from better service, the hospice entity saves money, and the pharmacy makes a profit – all without headaches! Hospice patients deserve the best care and will get that care from you. Now you can fill these prescriptions and be paid fairly.
CofixRx – firstname.lastname@example.org Website
I don’t travel anywhere without my CofixRx, and the whole family uses it at home. Their nasal spray is a povidone iodine-based antiviral spray to help you and your patients to stay healthy. As we enter respiratory infection season, this is a great product to carry in your pharmacy. We all know how powerful povidone-iodine is in blocking organisms. Now you have a solution that is easy to use and very affordable.
ValueCare Suite – email@example.com Website
I get asked frequently if DiversifyRx has created any RPM (remote patient monitoring) programs. My answer is no because I do not need to reinvent the wheel. ValueCare Suite has everything you need. From contracts and suggested billing practices to complete staff training to ways for optimizing each patient for maximum outcomes. ValueCare Suite’s software is stunningly impressive. You can work with their team to add a wide variety of value-based care services to your pharmacy without hiring an additional pharmacist while bringing in tons of additional revenue for your pharmacy and the prescribers you work with.
Physician360 – firstname.lastname@example.org Website
I am betting most of you know about Physician360, and I will also bet that you have no clue how to leverage them in your pharmacy. While they do offer turn-key testing kits, that is typically not the use case I recommend. To help you visualize how Physician360 can help you, my question is: What do you want to dispense more of? Compounds? CGMs? Weight loss meds? Whatever your answer is, Physician 360 can help get you there. While working with local prescribers is the preferred pathway to a prescription, let’s face it, it isn’t always possible. Many local physicians are busy doing their journey and aren’t interested in ours. This conundrum is where telehealth services can benefit patients and independent pharmacies alike.
KSL Diagnostics – Website
KSL was the one booth with something new to me. They have a quantitative (not qualitative) antibody test for Covid. While the antibody tests that have been around for years just show a yes or no to the presence of antibodies, the KSL test tells you how much your patient has. I think this test will be highly sought after by patients. Many people are curious to know if their antibody levels are high or low and how they change after a vaccine booster or a sickness. It is a blood spot test that is mailed in, and the results take about two days. These should be an upsell for every person getting a vaccine in your pharmacy.
EzriRx – email@example.com Website
Many pharmacy marketplaces are popping up. If you aren’t familiar with the term pharmacy marketplace, think of them as Amazon for purchasing your drug stock. EzriRx is the smartest and easiest to use that I have seen. Their software makes managing multiple secondary wholesalers easy—no paperwork, no elaborate applications, and very simple to reduce your net out-of-pocket drug costs. I strongly advocate moving away from primary vendor agreements and using more net upfront pricing from the secondary market. You can make this move much simpler by leveraging EzriRx.
Greenhill Trading – firstname.lastname@example.org Website
Greenhill Trading is a secondary wholesaler which you can find great deals from. The ladies that work there are some of the most knowledgeable you will find. Every time I speak with them, I learn something new, and I know you will too. They can tell you about new products, help you source hard-to-find items, or just help you increase profits while saving money.
Flash Returns – email@example.com Website
I have been a fan of Flash Returns for several years. I still run into pharmacy owners that don’t know how valuable the right returns company is. Not all reverse distributors are created equal. I continue to be impressed by Flash Returns’ knowledgeable and aggressive team dedicated to helping you maximize your dead inventory value. They offer a fast cash program to help you quickly recapture your inventory dollars.
Darby Farms – firstname.lastname@example.org Website
Darby Farms has been bringing high-quality supplements to independent pharmacies for many years. They continue to innovate with new products that are proven to be efficacious. Their flagship product is based around elderberries and how they can help boost the immune system. Their products will fly off your shelves from the fall to the spring season.
NCPA Annual Convention 2022 Wrap Up
There were a lot of topics presented at NCPA. I was fortunate to speak twice, in a panel for medical-at-home services offered by RxSafe and another tackling point of care testing presented by Abbott. I found many of the content sessions I attended to be very surface-level. I often left a session wanting more meat and more specific actions to take. It is a good lesson to remember as I put together my Pharmacy Profit Summit to ensure we go deep into the how-to for the topics we present.
As often is the case with big national shows, the most valuable information exchanged happens in conversations in the hallways and impromptu dinners. NCPA has always been great at bringing together a diverse crowd to ensure these interactions occur. I am already looking forward to Orlando for NCPA’s 2023 Annual Convention.