Neighbourhood Pharmacy Association of Canada: Evolving business model spells huge opportunities
QUEBEC — Collaboration is the key to unlocking business growth opportunities for neighborhood pharmacies, said Denise Carpenter, president and CEO of the Neighbourhood Pharmacy Association of Canada (Neighbourhood Pharmacies) during “Game Changers,” the organization’s 2015 annual conference here on Wednesday.
“While it’s tempting to say that retail pharmacy is facing more challenges than any other time, it’s equally accurate and more productive to look at how the opportunities for neighborhood pharmacies are growing,” said Carpenter. “The big headline for our industry today is the evolving business model – an evolution that’s pulling pharmacists out from the dispensary to interact with their patients in new and more valuable ways. This is our ‘game changer.’”
Carpenter said that dispensing remains the economic foundation of the business and will be for the foreseeable future. What is changing – and rapidly – is how the benefits of that medication expertise are being delivered to patients. Neighborhood pharmacies now provide an increasing range of patient services that extend their value, from the narrowly focused, such as flu shots, to the broader management of complex chronic conditions.
“This evolution is taking place at different rates and in different ways across the country,” said Carpenter, “and it represents a huge change for the whole neighborhood pharmacies community.
Pointing to the Association’s recent consultations with Ontario’s Ministry of Health and Long Term Care and the Ontario Pharmacists Association, Carpenter noted: “For the first time in many years, Neighbourhood Pharmacies was invited to collaborate in discussions on how the Province of Ontario would address its financial challenges.
“To be clear, it was not a negotiation and the resulting cuts were significant and disappointing, but we were at the table and we helped shape how, where and when the government’s cost- cutting would be felt. Our member representatives, and the staffs of OPA and Neighbourhood Pharmacies helped minimize industry pain and patient impacts, and none of this would have possible without everyone together and aligned on a common purpose. We are now at a formal table, continuing the dialogue to advise on implementation,” said Carpenter.
Neighbourhood Pharmacies also announced the election of directors to serve on its board for the coming year. The following senior pharmacy executives were elected:
Carmen Churcott – CEO, Pharmasave Drugs (National)
Russell Cohen – EVP, industry and government Affairs, Rexall
Geneviève Fortier – SVP, human resources and governmental affairs, McKesson Canada,
Eric Muir – SVP, health and wellness, Walmart Canada
Vivek Sood – GM, Sobeys National Pharmacy Group, who remains board chair
John Tse – VP, pharmacy and cosmetics, London Drugs
Rita Winn – GM and COO, Lovell Drugs
The Neighbourhood Pharmacy Association of Canada represents the operators of Canada’s chain, banner and franchise neighborhood pharmacies, as well as grocery chains and mass merchandisers with pharmacies.