NCPA 2021 Exhibitor Recap – Charlotte, North Carolina

Live Office Hours - October 12, 2021

All Office Hours

NCPA 2021 was a wonderful event. High-quality content was everywhere and the exhibitor floor was teeming with people. Here’s a recap of some of the most impactful exhibitors that I highlighted during the live guided exhibitor tour at the conference.

Transcription:

Well hello everyone I am fresh back from ncpa 2021 in Charlotte, North Carolina, it was so great to see so many of you. There live and in person having some fun and getting some learning on. For today I wanted to review the exhibitors that we went in, visited during the guided exhibitor tour, we had about 2025 of you show up for the guided exhibitor tour. And many of you felt the exhibitors were very impactful and appreciated it. So I wanted to share with the rest of everybody, the list of exhibitors, and kind of why we stopped by there, if you guys have any questions, feel free to post and I’ll make sure to get answered to them. So we started off our tour at the RxSafe booth. And for those of you that may not be aware of RxSafe, they have a couple of different automations. They’ve had the Inventory Management System out for a while. But really their groundbreaking technology was the strip packager, because it has such an incredibly small footprint and an incredibly high capacity for being able to fill I think it’s something like 80 boxes for one tech, one machine in one eight hour shift, which is pretty amazing compared to everything else on the market. But they launched a new technology at ncpa, which is their automated bubble packing. So not everybody wants stripped packaging, some long term care facilities and other types of facilities require the bubble pack. So now they had automated bubble card packaging, which was pretty cool. So for many people that are doing this pill and maybe have just kind of capped out their ability to be able to do that. This can be a great alternative for you. So we started at the RxSafe booth. And then afterwards we went on to our VP or real value products, they are a what I would consider like a tertiary wholesaler, they carry about 4000 generic skews. They also carry a bunch of niche products, they have some exclusives on products. For example, they carry the solute bio mix products, they just launched a new diclofenac product on Friday actually. So they carry a lot of really great products that are good for your patients and good for you. They also have a really great partnership with EZScriptRx, which is one of my favorite companies so that they eliminate test claims. So it’s a medical benefits claim check software that’s completely compliant. And you can see what is covered on a patient’s plan. So you can help optimize their therapy. And you don’t have to run into running test claims or worried about getting audits for anything like that. So it’s really important to be compliant, be compliant with your contracts. And so when you purchase from our VP, you also get some monthly credits with easy scripts. So they have a nice little partnership. So we stopped there, because I thought that was a unique little opportunity with both companies that I that I absolutely adore. Our VP is bought accredited for those of those of you that asked, and they’re continuing to expand and continuing to unfold new services to really help support independent pharmacies. The third stop on the way was with stream care, our favorite worker’s comp, billing, direct billing company, and about, I think the majority of the group, I think there was only one person in the group that was doing workers comp, but when I got through explaining, like, why worker’s compensation can be such a profitable niche when you kick out the PBM so it’s terrible when you’re billing through Tamesis and Express Scripts and all of those regular PBMs because you’re agreeing to their reimbursement rates, not your state’s contracted reimbursement rates. So
kind of went through that math that instead of getting a DWP minus you know, 87% whatever your your regular PBM contract rate is, you can actually get full a DWP or close to a WP especially on these generics, the profitability shifts dramatically. The state doesn’t pay anything more because they’re paying the same rates regardless of who does the billing, whether it’s the PBM or whether it’s stream care. It’s just the pharmacy gets to keep more of the money because you eliminate the PBM. So many pharmacies were really excited. You only need a couple of patients in you don’t even maybe even have to get new patients you might be processing workers compensation prescriptions for just a few patients right now, you could actually just switch them on the back end and be able to utilize stream care a direct billing worker’s comp service in order to improve the profitability on those prescriptions. Up next on our tour was PatchRx. Many people had never even heard of PatchRx I’ve been talking with the guys over there for many months now kind of trying to keep tabs on what they’re doing. They are really an innovative technology group or technology company software company, they’re going to be coming out with some products, but it’s all about adherence, and being able to track and know when your patients are taking their medications. And eventually, hopefully trying to be able to bill for these services and create some turnkey revenue from being able to track the adherence of your patients. So currently, right now, they are a software company, they had an app, they got some some really neat technology, they are innovating a little cap insert that will basically record when your patients opens and closes the vial. And those kinds of things. The the little chip in there, you know, we’re all experiencing shortages in the pandemic. So that’s delayed the launch of their chip a little bit. But for right now, they might, they might have already sold out, but the first 100 pharmacies to sign up got it free for a year. So if you’re watching this, and you have not signed up for PatchRx, call them up, say, Hey, Lisa FAAST said that you might still have a spot left or two and try to get in there. And you can get that that service for free for the first year. And if you want to continue it after that great if you don’t great, but I think it’s definitely worth checking out too. Because I think they’re going to be some really innovative things that they’re doing to help monetize, helping your patients become adherent or stay adherent. Next up on the stop was flash returns, who is a reverse distributor. So they take recalled and expired products and return them to the manufacturers. Flash returns is one of my favorite returns companies, they’re one of the most aggressive that I know in terms of really understanding the market and the rules under keeping up with all the changes. It’s amazing how fast the different manufacturers change the returns policy, and they really help keep you in the loop on that to help improve the value of the return inventory that you send back. So you know, you got to get rid of it anyway. So I mean, every returns company will dispose of it. But flash returns, I think is there’s no company better that helps you maximize the value. And we’re talking about, you know, 10,000, several $1,000 A year extra with Flash returns. So I think it’s very worth checking out and in trying them out instead of your regular returns company and kind of see if that value goes up. So from what I’ve experienced, it’s significant worth a couple of $1,000. And that’s just extra money right added on to your bottom line. Next step on the stop was pharma complete. That was another company that most people had never heard of before. Pharma complete, Paul Shelton is is somebody that I’ve known for quite a while him and Michelle started this company and it’s a long term care, supportive company. They help you with all kinds of facets of risk really optimizing and creating a profitable long term care pharmacy niche. So if that’s anything that you’re considering, or you’re actually in, maybe you’re just dabbling and you don’t really know how long term care how to eliminate those dir fees and how to improve the profitability. I would highly recommend you reach out to Paul or Michelle over at pharma complete because chances are, they’re going to help your pharmacy be more profitable. Next up is bio light. Many of you know Chris Ray, he’s been around this industry for many, many years helping pharmacies and the bio light is the IV in a bottle. It’s an oral drink that helps rehydrate and replenish all of the salts and fluids that are lost either with you know excessive exercise sickness, like vomiting or diarrhea. Everybody got to sample their their full bottle flavors. Right now they have three different flavors out right now.
They are kind of salty, so people you know they do really prep that and they have flavors that are kind of ranged from really salty, which is the original citrus to kind of medium, which is the berry into the least saltiest fruit flavor. That one is Oh, it’s a mango or pineapple. Tropical I think it is. And but everybody got to have a bottle. Me and my husband drink those quite frequently in our house. We’re
regular users of Biolite you really do feel so much better. You don’t have to be to the point of dehydration. We often drink them a little preventively. But I highly recommend you have these in your pharmacy. Every pharmacy that I know that sells them sells through them multiple times. And it becomes a nice little revenue generator for your over the counter or front end section. Right across from bio light was benchmark. This is actually a brand new company that is launching. It’s in conjunction with Amina many of you know obviously, good friend, wonderful pharmacist. Classic just disrupter, an innovator in our industry, Amina, she has been working with this company on their extraction technology being able to really extract the entire essence of really any food or product. And so they they originally went down this path for a CBD products, they got a full line of of CBD for pets. And it really just a very variety filled line. There have a partnership with Dr. Oakley from NatGeo, very famous veterinarian in creating that that animal pet support line. But Imean is also doing some really innovative things with this extraction technology of bringing farmers in and bringing in some local organic produce and being able to make some extracts, and infuse that into medicine. So she had a really great event on Sunday night, really laying out this plan of how to use these extracts. So you’re definitely going to be hearing more about benchmark and about this lipid bound extraction technology from Amina, I think there’s going to be some really exciting things to come from that. So after we stopped by those booths, we went around to FDS AppleCare. If, if you don’t know it, it is pumpkin spice season, which also mean it’s Medicare plan choosing season. You need to really work with your patients on Medicare plan choosing I know many pharmacies say I don’t have time. I’m too busy with, you know, booster shots and flu shots and testing and all this other stuff. Which is true. But I think FDS AppleCare, has really stepped up this year and made it even easier for you to help manage these patients. And why is it so important. So we all like to complain about dir fees, they suck. They’re crap, and they’re even worse this year, are coming up, they’ve released the new rates for next year. And it’s just atrocious what some of these dir fees are going to. And if you don’t manage your patients and get them on better plans that are better for the patient and better for you, it’s going to impact your bottom line for the entire next year. Right now starting October 15 is the only time that you can manage the majority of these patients and really help them and so I know many pharmacies complained over the last year with their old broker partner that was doing some really not so great things kind of stealing patients from pharmacies and steering them towards plans that weren’t good for the pharmacy, they dumped that partner, they have a brand new partner that is really in line with the integrity and with the benefit of independent pharmacy. And so technically, you don’t even have to do anything in your pharmacy. You can really offload it all to the broker, there’s no cost there’s, there’s nothing that gets lost in being able to do that. You just gain somebody that’s working on your behalf for your pharmacy. They have the Win Win report, which is a report that shows which plans both win for the patient and win for the pharmacy, which on the Win Win report, I think it’s the average patient saves four to $500 a year, and the pharmacy makes an additional $200 a year. So it really is that’s an that’s a narrow like must do list for your pharmacy. And then of course, there’s many more patients behind that with differing bearing impacts. But I cannot express enough that I think every pharmacy needs to be signed up with FDA sampler care, you will make more way more multiples of your ROI back from the cost of the FDS AppleCare program, which I think is around $1,300 for the year. So not only will be able to do open enrollment, but you actually be able to manage your many, many patients throughout the year. But you will set your pharmacy up for success. If you take advantage of this time. Now it does not have to be the pharmacist does not have to be a key key, you know, owner or key technician, you can bring on new personnel or you can just again, outsource it to their new broker partner, which is going to operate completely different than the last one. So if you have any questions about that, please feel free to reach out to me up next after FTS AppleCare. We stopped by Jerry med. Many of the pharmacies in the group were combo pharmacies with some long term care or residential care facility type things. Many of them were just kind of dabbling in it. And we really learned that even having as little as 20 or 30 patients in long term care can add up to just a couple $1,000 a month in additional profit. When you switch to Long Term Care Cost of Goods long term care contracts.
You eliminate those dir fees, you actually add a couple extra points on reimbursement. So you don’t have to be managing hundreds of beds in order to benefit from those types of combo taxonomy codes with your NPI and in NCPDP numbers. So that was a really Great stop for many pharmacies as well. After that, we went over to Farmer Canada CBD booth and stopped by guts got some great free samples. I know my feet were starting to hurt by that that point of the weekend. And the farm mechanic cream feels wonderful on the feet. And then one of my favorite products of theirs is their CB Dream, which is the combination of the CBD with the melatonin. I think that’s one of the products that you should be offering to all of your patients that are on, you know, the Ambiens, the different sleep medications, the benzodiazepines, just talking to those patients about you know, they’re getting the full treatment that they’re expecting, are they wanting to wean off any of those, and how this combination of melatonin and CBD might be able to help them do that. So up next after pharmacann and we hopped on over to GM pharmaceuticals. GM pharmaceuticals carries both prescription and over the counter products that are all optimized for pharmacy, clinical benefits and pharmacy profitability. The prescription product that we learned about was there V tall, which is a liquid generic form of vana tall, it’s for my migraines are tension headaches, it has to be Tabatha also technically tension headaches. Some people do use it for migraines, super rapid acting, that’s one of the favorite things of patients when they take the liquid is it’s incredibly fast acting much more than the pills, there’s no you know, dissolution and dissolving time, it’s much more absorbable rapid, rapidly absorbed, they get relief, even better, they have a couple of really cool over the counter products, they have this lice over the counter product that is amazing. And is really, I think one of the best lice products out there. And they also have a coffin cold line that has unique medication and I never remember the name of the medication. It’s like di chloral something, it’s it’s a different they have the patent on this medication. And it works like three different ways it works, you know, neurologically, it works locally on the throat, numbing the pain and then also works down in the lungs as well. And so it’s really unique. All of their over the counter stuff is like dye free, alcohol free gluten free. So all of you parents with kids out there with cough medicines know that, you know, when you give them the bright red stuff, and they spit it up, it goes everywhere and everything stained forever. But these are some really great unique over the counter products that pharmacies can sell at good profits for both the prescription and the OTC stuff. Now for the prescription products, you can get their products through many of the major wholesalers. But you will pay more than if you just buy direct from GM pharmaceuticals. So I always recommend buying direct from them in a way to lower your cost of goods as much as possible. And then last but not least, we stopped at atrium 24 To learn about their marketing packages that they have for different specialty physicians all about their COVID testing. DiversifyRx has a great partnership with atrium 24, you can get a 20% discount by using the code DiversifyRx whenever you’re ordering any of your COVID supplies. So they have all the COVID testing, they have COVID training programs, really everything you need to do to be able to maximize COVID In your pharmacy. And they’re actually starting the monoclonal antibodies. And they’re going to be sharing some some knowledge about that. Now they’re not distributing the monoclonal antibodies, but they’re starting Nicolette started in her own pharmacy. So she’s gonna be doing some free webinars on stuff to help educate people on how to best manage that you can sign up for free for like all of their industry, news and information. And right now you can still sign up for free for the data analytics program that will be free, I think until the end of the year is what I remember. Right. But I know as of now, it’s still free to sign up. So I highly recommend you do that that can give you some really critical insight into your data. I always see the profits in the data or the profits in the KPIs. Data is a fantastic navigator for your pharmacy. There. So that was the roundup of the ncpa exhibitors.
There was there was many more great companies there. I just felt that these ones were going to have the best impact for the people there at the show. Some very quick turnarounds for everyone. Some were new, some are old, but it was a great mix and it was great to see everybody and I’ll be sending everybody kind of a summary cap email if you are registered for the guided exhibitor tour, and I can’t wait to see everybody at the next pharmacy show. So bye everyone.