August 15, 2023

In This Issue:

• Eden Drug is Pharmacy of the Year
• Cash Flow Accelerator Program Gets Boost
• Legislative Affairs Details Eventful Spring
• Employee Spotlight
• 2024 Convention Location Announced
• On The Shelf: Voltaren Arthritis Gel

Editor's Note:
Welcome to our latest edition of the American Pharmacy Cooperative Journal! You may notice something different about this newsletter: there's no PDF to download! We know your time is limited, so moving forward, our newsletters will be delivered directly to your email inbox as an HTML email, giving you one fewer link to click.

We would love to hear what you think about this new format. Please send your comments to our editor, Richard Kirby, at richardk@apcinet.com!

Eden Drug is Pharmacy of the Year

Eden Drug owner Pete Crouch (center) receives the Pharmacy of the Year award at McKesson ideaShare in Las Vegas. He is joined onstage by Jeanine Singer, Senior Vice President, Field Sales & Operations, McKesson Corporation, and Crystal Lennartz, Vice President, General Manager, Health Mart Atlas and Atlas Specialty, McKesson Corporation.

APCI member Eden Drug in Eden, N.C., was named the 2023 Health Mart Pharmacy of the Year during a ceremony at McKesson ideaShare in Las Vegas, Nev. The pharmacy was selected from a live vote from attendees at the conference.

Owner Pete Crouch, who bought the pharmacy with his wife in 2005, said that “imperfect action is always better than perfect inaction. It’s important to act when we see an opportunity.” He has focused on making the pharmacy the best for his patients, the more than 40 employees at the pharmacy, and the community. Eden Drug has more than 1,800 patients enrolled in its Med Sync program and has a health coach who works with patients on adherence. The pharmacy also features a patient education center that offers diabetes classes and other community services.

APCI member Hazel Green Pharmacy and owner Mike Powers was also recognized as a finalist for the award. McKesson highlighted Hazel Green’s HOPE (Helping Our Patients Everyday) room that the pharmacy utilizes for consulting and testing and the pharmacy’s advocacy actions as two of the factors in its nomination for Pharmacy of the Year.

This is the second year in a row that an APCI member pharmacy has won the Pharmacy of the Year award. This is also the second year in a row that two APCI members have been finalists. In 2022, Bunch Pharmacy and owner Buddy Bunch of Guntersville, Ala., and Sam’s Pharmacy and owners Sam and Christian Tadrus of Moberly, Mo., were finalists, with Bunch Pharmacy taking home the honor.

Health Mart has been awarding a Pharmacy of the Year for more than 20 years, celebrating a top performing Health Mart pharmacy with staff who are passionate about patient care, innovation, and remaining active in their communities.

Cash Flow Accelerator Program Gets Boost

APCI members who utilize the co-op’s Cash Flow Accelerator program will see more money headed their way each week beginning January 1, 2024.

With APCI’s standard rebate program, members receive their purchase rebates for the month on the 25^th of the following month; for example, rebates are paid for July’s generic purchases on August 25. The Cash Flow Accelerator (CFA) program advances a portion of those rebates on a weekly basis. At present, CFA advances 11 percent of APC1 generic purchases each week. The APCI Board of Directors recently voted to increase that amount to up to 20 percent of weekly purchases beginning January 1.

The timing of the change is no accident, according to APCI Chief Financial and Operations Officer Susan Maze.

“Beginning January 1, our members are going to see a decline in reimbursement because the PBMs will incorporate DIR fees at the point of sale, while retroactive DIR recoupments will continue to run into the second quarter of 2024,” she said. “That can be a significant drag on cash flow for any pharmacy.”

While several companies offer different assistance programs to help pharmacies prepare for this “DIR Hangover,” most options involve putting money aside now for the anticipated lack of cash flow.

“While those are helpful solutions, it's still the pharmacy’s money,” Maze said. “Are you going to set it aside and do without the funds now, or you're going to do that on January one, because you're forced to do it?

“APCI is actually accelerating the cash into your business,” she continued. “We're not saying, ‘Hey, let us take it now and the cash crunch won’t hurt so bad on January 1.’ What APCI is doing is paying rebates to our members sooner than they have been paid in the past.”

There is no charge for the CFA program; however, members must have a compliant purchasing status for six consecutive months prior to enrollment. For more information or to enroll, contact your APCI Account Executive.

Legislative Affairs Details Eventful Advocacy Season

The first half of 2023 has been an active time for APCI’s advocacy efforts at the federal level, as detailed in a new update published by the co-op’s governmental affairs team.

The update provides details and comments on 17 pieces of PBM-related legislation introduced in Congress, as well as information on APCI’s other advocacy activities during the past several months.

“[T]his congressional session likely feels like a breakthrough moment,” wrote APCI Director of Healthcare Policy and General Counsel Greg Reybold, who authored the update. “While there have been some bright spots over the years, this just feels different.

“In the business of advocacy and legislation, details matter and with so much activity, it is becoming harder and harder to keep up with legislation introduced and other developments,” he continued, noting that Legislative Affairs will be sending updates on a quarterly basis to keep APCI members notified of the co-op’s advocacy activity.

The update is available on the APCI website in the APCI News section. Members must be logged into the website in order to read the update.

For more information on APCI’s advocacy activities, contact the Legislative Affairs department.

APCI is growing to meet your needs. Please join us in welcoming our new employees.

Haley Ramsey
PRO Business Analyst

Haley Ramsey joins PRO as PRO Business Analyst. Haley has spent the last five years working with independent pharmacies, aiming to enhance profitability thru supply agreement optimization and identifying revenue-producing opportunities. She will be adding these services to the PRO list of services, and she will conduct financial and industry benchmark analyses for members.

Haley earned her bachelor’s degree in Pharmaceutical and Healthcare Business and recently completed her MBA in Healthcare Management. She is passionate about supporting independent pharmacies and their essential role in their communities. Outside the office, she enjoys hiking with her husband, learning something new from a podcast, and spoiling her two cats, Scooby and Velma.

Finally, we want to congratulate two long-time PRO team members, Shirley Lea and Terri Shirley. After many years of dedicated service to PRO members and the PRO team, both women decided to retire in April 2023. They are enjoying some well-deserved time with their families, and we wish them relaxation and enjoyment. They are indeed missed here at APCI!

2024 Convention set March 21-24

Mark your calendars for the 2024 APCI Annual Convention and Stockholders’ Meeting! Next year’s event will be held March 21-24, 2024 at the Westin Harbor Gold Resort and Spa in Savannah, Ga.! Watch your email and snail mail for details. See you in Savannah!

Voltaren Artritis Gel

Voltaren Arthritis Pain Gel is a topical nonsteroidal anti-inflammatory (NSAID) gel with a proven safety profile for your arthritis pain. Now, you can buy Voltaren over the counter. Formerly a prescription product, it has been trusted by patients and doctors in the U.S. for more than 10 years. Plus, thanks to the specialized Voltaren Emulgel™ formulation, it’s non-greasy.

• An alternative to pills, Voltaren targets pain directly at the source to deliver clinically-proven nonsteroidal anti-inflammatory medicine for powerful arthritis pain relief with a proven safety profile.
• Voltaren is a topical NSAID absorbed through the skin and not through the stomach like most oral medicines.
• Actually treats arthritis pain. Most topicals heat, cool, or irritate the surface of the skin, which only masks the pain.
• Clinically proven to have a triple effect of relieving arthritis pain, reducing stiffness and improving mobility to help get you moving and grooving again.
• Non-greasy and clean scent.
• Voltaren penetrates deep to target arthritis pain at the source.

Patients are cautioned not to use Voltaren on more than two body areas at the same time. Patients should use the included dosing card to measure appropriate amounts of Volatren. For upper body areas (hand, wrist, elbow), 2.25 inches is recommended. Lower body areas (foot, ankle, knee) should have 4.5 inches applied.

To use, rub the gel gently into affected area. It is intended to be used four times a day every day for up to 21 days. With 4-times-a-day use, patients may start to feel relief within a few days. It is recommended that patients stop use and ask their doctor if pain gets worse or lasts more than 21 days.

Voltaren is available through McKesson.