Entrepreneurship

A New Era in Pharmacy: Breaking Free From the Golden Handcuffs

Anna Garrett

Several years ago, I was working as a manager in a large health system. And while I enjoyed some aspects of my job, I could see the writing on the wall... and it wasn’t pretty. Rumors of layoffs swirled. Upper management talked constantly of our “gloom and doom” financial picture, and employee satisfaction was at an all-time low.

The time seemed ripe to make a leap that I had contemplated for some time...starting my own business, coaching women who are experiencing challenges with perimenopause and menopause. I wanted to work directly with my clients and provide the care I knew they needed. But I also wanted the freedom that came with building a business I could do anywhere in the world.

No matter where you practice, pharmacy has become more and more production-driven in an effort to drive down costs and save money. Think about it...has there been a time in the past week where you DIDN’T hear something about money and healthcare?

Insurance companies have cut back reimbursements that mean less time to practice actual patient care. Burnout in retail pharmacy is rampant. Pharmacists are looking for a better way to do what they love, helping patients lead healthier lives and make best use of their medications.

What keeps us stuck? It’s the Golden Handcuffs – we’re attached to our salaries, but the playing field is getting rough, causing burnout and dissatisfaction with what we’re doing versus why we started doing this in the first place. But so many of us think it’s just easier to stay where we are than forge a new path.

But not all of us. Creative pharmacists are now taking matters into their own hands and stepping into entrepreneurship. And if you wonder what it is you could do and offer, just a quick search on Google reveals pharmacists who are providing MTM consultations, health coaching, starting “meds to beds” programs in health systems, offering transitions of care programs as patients move from nursing facilities back their homes, and running online niche businesses. But what you won’t find much of is support for these entrepreneurs (and intrapreneurs) who are taking the leap.

This is what led to the creation of the Medipreneurs 2017 event to be held in Asheville, NC this Fall. I joined forces with my colleagues and co-creators, Sue Paul, RPh and Michelle Fritsch, PharmD, to do something that has not been done before. The three of us feel passionately about helping entrepreneurs get off the ground and be a part of a community where they can network, learn about business from those who have done it, and get the support that is necessary to build their vision. We’ve each built businesses from scratch and are all too familiar with the challenges that must be navigated.

Medipreneurs 2017 is an exclusive event for pharmacists who are ready to push some limits and gain freedom. We’re keeping it very small with limited seating so that the focus is on creating strong connections and learning from one another in an intimate setting.

Coloring within the lines is no longer required for pharmacists. We can now have autonomy and stop being directed by higher ups, systems, and insurance companies. Speaking for Medipreneurs, I can say that we became pharmacists to improve patient care. I think the same is true for most pharmacists. And now we are proving that we have the power to bring the focus back to the patient and off the metrics and costs.

If you’re frustrated, burnt out or have a vision for your practice that’s different from the reality you now know, the new era of pharmacy is here waiting for you.

Ready to push against the edges of your comfort zone? Join us at Medipreneurs 2017 in Asheville, North Carolina, from September 30 to October 1, 2017. You’ll learn how to create a business that gives you freedom, money, and the ability to practice in a way that aligns with the reasons you became a pharmacist in the first place. For more information, visit www.medipreneurs.com.

Anna Garrett, PharmD, is a menopause expert and Co-Founder of Medipreneurs.