Building a Sustainable Pharmacy: Preparing for 2025 with Anthony Minniti, PharmD | TWIRx

This Week in Pharmacy (TWIRx) Podcast - Friday, November 22, 2024

Navigating Change in Pharmacy: Dr. Anthony V. Minniti on Cash-Based Business Models for 2025"

NEWS:

1. Rising Prices & Pharmacy Closures Raise Concerns About Access to Medication
   We start this week’s episode with a critical news update from Benefits PRO reporter Alan Goforth, discussing the rising drug prices and the increasing number of pharmacy closures. These closures are having a significant impact on access to essential medications, particularly in rural and underserved communities. We dive into the broader implications for patients, pharmacy owners, and healthcare professionals.
   1. https://www.benefitspro.com/2024/11/22/rising-prices-pharmacy-closures-raise-concerns-about-access-to-medication/?slreturn=20241122124556
      
      
2. Oklahoma County Steps in After State Cuts Prescription Medicine Help
   In other news, Oklahoma County is taking action after the state of Oklahoma cut funding for prescription assistance programs. We discuss the county's efforts to fill the gap and ensure that low-income individuals continue to have access to the medications they need, despite the loss of state support.
   1. https://www.oklahoman.com/story/news/2024/11/22/oklahoma-county-arpa-funds-prescription-medicine-help/76458063007/
      
      
3. Enveda Raises $130 Million to Advance AI-Driven Plant-Based Drug Development
   In an exciting development for the future of pharmacy, Enveda has raised $130 million to further its work in AI-driven, plant-based drug discovery. This investment could be a game-changer for the pharmaceutical industry, and we break down how it could revolutionize drug development, particularly in the realm of natural medicine.
   1. https://www.pharmaceutical-technology.com/news/enveda-raises-130m-to-advance-ai-driven-plant-based-drug-development/?cf-view
      
      

Feature Segment: Advancements of the Pharmacy Guild with Dr. Lannie Duong, PharmD
We continue with an inspiring conversation about the growth and evolution of the Pharmacy Guild with co-founder Dr. Lannie Duong, PharmD. Dr. Duong shares insights on how the Guild is empowering independent pharmacists, fostering collaboration, and advancing advocacy efforts to shape the future of community pharmacy.

Rhode Island Pharmacies Unionizing
In a significant labor movement, several pharmacies in Rhode Island are unionizing. We discuss the factors driving this trend and the potential benefits for pharmacy employees, including better working conditions, wages, and job security. We explore how this could impact the broader pharmacy industry across the U.S.

Pharmacist Entrepreneur Dr. Robin Barrett Making Waves at the Ebony Power 100 Gala
Pharmacist entrepreneur Dr. Robin Barrett, PharmD, is making headlines as a special guest at the Ebony Power 100 Gala. As a 2023 50 Most Influential People in Pharmacy award recipient, Dr. Barrett continues to inspire the industry with her innovative approach to pharmacy practice. We talk about her impactful work and the recognition she’s receiving in the broader entrepreneurial space.

Pharmacy 50 Awards: Vote Now for the 2024 Season!
It’s time to cast your votes for the 2024 Pharmacy 50 Awards! The prestigious awards honor the most influential individuals in pharmacy, and voting is now open. Make your voice heard and support your colleagues. Head over to Pharmacy50.us to submit your vote today!

Special Feature with Dr. Anthony V. Minniti: Navigating Change in Pharmacy Through Cash-Based Business Models for 2025
In today’s featured interview, we welcome Dr. Anthony V. Minniti, a trailblazer in the pharmacy industry, to discuss how community pharmacies can navigate upcoming changes by adopting cash-based business models. As we look toward 2025, Dr. Minniti shares strategies for pharmacy owners to remain competitive and financially sustainable in a changing healthcare landscape.

We explore:

• The financial and operational benefits of cash-based services for pharmacies.
• How a shift to cash models could improve patient care and streamline business operations.
• Practical tips for implementing cash-based services in your pharmacy.
• The future of pharmacy ownership and the role of innovation in sustaining independent pharmacies.

Key Takeaways:

• Rising Pharmacy Prices & Closures: Impact on medication access and the industry's future.
• Oklahoma County’s Action: Local efforts to support prescription assistance amidst state funding cuts.
• AI-Driven Drug Development: Enveda’s $130 million investment in plant-based solutions.
• Unionization in Rhode Island: The movement gaining traction in the pharmacy sector.
• Pharmacy 50 Voting: Recognizing leaders in the pharmacy world—vote now!
• Cash-Based Pharmacy Models: How to prepare for 2025 and beyond with Dr. Anthony V. Minniti.

Listener Q&A:
As always, we end the episode by answering your questions. This week, we tackle listener inquiries about the pros and cons of cash-based pharmacy models and the growing trend of pharmacy unionization. Keep your questions coming via email or on social media!

Resources Mentioned:

• Pharmacy 50 Voting Link: Pharmacy50.us
• Enveda AI-Driven Drug Development News
• Oklahoma County Prescription Assistance Program Details