115th Annual Convention

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1 115th Annual Convention Date: Tuesday, October 15, 2013 Time: 9:30 am 11:00 am Location: The Walt Disney World Swan and Dolphin Resort Northern Hemisphere Salon E3-E4 Title: Activity Type: Speaker: Spotlight on Nutrition Succeeding in the Niche: A Golden Opportunity for Independent Pharmacy ACPE # L04-P 0.15 CEUs ACPE # L04-T Knowledge-based Jennifer Hughes, PharmD, Greenwood Drug, Inc. Pharmacist Learning Objectives: Upon completion of this activity, participants will be able to: 1. Discuss market evaluation to determine the need for wellness and nutraceuticals in your pharmacy population. 2. Identify niche cross-selling opportunities to introduce patients to supplementation opportunities to enhance their health outcomes. 3. Outline a market outreach plan to introduce patients to your nutritional/supplementation niche. Technician Learning Objectives: Upon completion of this activity, participants will be able to: 1. Discuss market evaluation to determine the need for wellness and nutraceuticals in your pharmacy population. 2. Identify niche cross-selling opportunities to introduce patients to supplementation opportunities to enhance their health outcomes. 3. Outline a market outreach plan to introduce patients to your nutritional/supplementation niche. Disclosures: Jennifer Hughes declares no conflicts of interest or financial interest in any product or service mentioned in this program, including grants, employment, gifts, stock holdings, and honoraria. NCPA s education staff declares no conflicts of interest or financial interest in any product or service mentioned in this program, including grants, employment, gifts, stock holdings, and honoraria. NCPA is accredited by the Accreditation Council for Pharmacy Education as a provider of continuing pharmacy education. This program is accredited by NCPA for 0.15 CEUs (1.5 contact hours) of continuing education credit.

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3 SPOTLIGHT ON NUTRITION SUCCEEDING IN THE NICHE: A GOLDEN OPPORTUNITY FOR INDEPENDENT PHARMACY Jennifer Hughes, PharmD Greenwood Compounding Pharmacy Disclosure Jennifer Hughes declares no conflicts of interest or financial interest in any product or service mentioned in this program, including grants, employment, gifts, stock holdings and honoraria. Learning Objectives 1. Discuss market evaluation to determine the need for wellness and nutraceuticals in your pharmacy population. 2. Identify niche cross selling opportunities to introduce patients to supplementation opportunities to enhance their health outcomes. 3. Outline a market outreach plan to introduce patients to your nutritional/supplementation niche. 1

4 Objectives Learn the benefits of a nutritional niche Learn the financial advantage of nutritional supplements in your business New ideas for various niches How to start Education on some specific nutrients Our Business Compounding and retail pharmacies under one roof. Two separate licenses. Approx 3,000sq ft pharmacy 298 ft of regular OTC and 16 ft of specialty supplements. Compounding of BHRT, Pain, Vet, Dental, Lyme 2

5 MORE BANG FOR YOUR BUCK FLOOR SPACE SALES FT SHELVING UNITS SOLD SPECIALTY GENERAL SPECIALTY GENERAL 3

6 MORE BANG FOR YOUR BUCK Specialty supplements are less than 5% of shelf space, 17% of OTC products sold, yet accounts for just 0ver 50% of profits. PROFIT SPECIALTY GENERAL SPECIALTY SUPPLEMENTS Month Units Gross Net Sold August 635 $14,690 $6,546 July 541 $13,411 $5,535 June 514 $12,164 $5,049 May 537 $13,795 $6,088 TRADITIONAL OTC S Month Units Gross Net Sold August 3064 $16,442 $5,973 July 3115 $15,452 $5,490 June 2866 $15,140 $5,435 May 2924 $16,386 $5,779 OUR NICHE PHARMACEUTICAL GRADE BRANDS HEALTH FOOD STORES/BIG BOX STORES CAN T CARRY WE RE NOT TRYING TO BE WALGREEN S GENERAL NUTRITIONAL REPLACEMENT MULTI S, FISH OIL, GLUCOSAMINES, PROBIOTICS TARGETED TREATMENTS ADRENAL, THYROID, HORMONE HEALTH, DETOX, ETC 4

7 QUALITY COUNTS 3 RD PARTY INDEPENDENTLY VERIFIED COA S PROVIDED AT REQUEST RESEARCHED, PROVEN DOSES, BLENDS ABSORBABLE ex: CURCUMIN AND OTHER POLYPHENOLS FISH OIL VITAMIN E, FOLIC ACID BEST SELLERS MULTIVITAMINS PROBIOTICS CHOCOLATE CALCIUM TABS ADRENAL SUPPLEMENTS OUR BIGGEST MONEY MAKER HOMEOPATHIC HCG I KNOW WHAT YOU RE THINKING!! USED FOR 4 YEARS EVEN WHEN MANY MANUFACTURERS WERE SHUT DOWN, THEY WERE UNAFFECTED. 83% MARGIN DEMAND IS HUGE FOR WEIGHT LOSS 5

8 ENDCAPS OUR BIGGEST CHALLENGES MARKET STAFF KNOWLEDGE PROFESSIONAL ENVIRONMENT GETTING STARTED START SMALL PICK ONLY PRODUCTS THAT YOU BELIEVE IN THEIR BENEFITS EXPAND AS YOUR KNOWLEDGE INCREASES AND PATIENT DEMAND INCREASES 6

9 NICHES RETAIL Drug nutrient depletions Diabetes Arthritis Allergy Skin Care Prenatal Sleep NICHES BEST ACCEPTED Glucosamine Fish Oil Vitamin D Calcium sell BONE HEALTH, not just CA++ Probiotics NICHES SPECIALTY Weight Loss Women s Health Adrenals/Thyroid Autism Lyme Gut Repair 7

10 SPECIFIC INGREDIENTS CURCUMIN THEANINE FISH OIL PROBIOTICS BONE HEALTH BASICS WEIGHT LOSS BASICS ADRENAL HEALTH NUTRIENTS CURCUMIN STUDIED FOR ANTI INFLAMMATORY, ANTI CANCER, GI BENEFITS, CAN LOWER LDL AND TOTAL CHOLESTEROL SIGNIFICANTLY DECREASES PAIN AND INFLAMMATION MAY HEAL INFLAMMATORY BOWEL DISEASE/CROHN S BEING STUDIED AS AN ADJUNCT TO CHEMO REGIMEN IN COLON CANCER. CURCUMIN DOSAGE 500 TO 1000mg TID OUR PHILOSOPHY IS TO START PATIENTS ON CURCUMIN ALONE START ON MAX DOSE AND TITRATE DOWN CURCUMIN IS DIFFICULT TO ABSORB LOOK FOR PHYTOSOMAL FORM. 8

11 L THEANINE AMINO ACID DERIVED FROM GREEN TEA CALMING WITHOUT BEING SEDATING IMPROVES FOCUS AND ATTENTION, BOOSTS COGNITION INCREASES ALPHA WAVE ACTIVITY RECOMMENDED DOSE IS 100 TO 400MG DAILY. STUDIED SAFE IN DOSES UP TO 1200MG DAILY FISH OIL MOST KNOW BENEFITS FOCUS ON QUALITY REVERSE TRIGLYCERIDE FORM IS NATURAL FORM ESTERIFIED NOT AS POTENT AMERICAN STANDARDS FAR LACKING NORWEIGIAN/EUROPEAN AMOUNT OF MERCURY VARIES BETWEEN COMPANIES FISH OIL STANDARDS 9

12 PROBIOTICS SALLY BINKS LIST GIVES 101 CONDITIONS BENEFITTED FROM PROBIOTICS GI, IMMUNE SYSTEM, ASTHMA MINIMUM 10 BILLION CFU S LACTOBACILLI AND BIFIDOBACTERIA FOR MOST PATIENTS BENEFICIAL YEAST MAY ALSO BE HELPFUL VARYING BRANDS RECOMMENDED BY MANY SACCHAROMYCES BOULARDII BENEFICIAL YEAST MANY STUDIES DONE C. DIF, THINK YEAST FOR PATIENTS WITH CHRONIC SINUS INFECTIONS AS WELL AS CHRONIC FUNGAL INFECTIONS OF ANY KIND. ELIMINATE SUGAR, ADD PROBIOTIC,AND YEAST. BONE HEALTH BASICS GET ABSORBABLE CALCIUM!! VITAMIN D, MAGNESIUM, VITAMIN K2, BORON, STRONTIUM, B6 OPTIMIZING VITAMIN D REDUCES NEED FOR CALCIUM IF USING MCHC CALCIUM (WE DO) ASK COMPANIES FOR COA S CHECK FOR LEAD MAGNESIUM DEFICIENT IS RAMPANT! 10

13 WEIGHT LOSS BASICS TOO MANY OPTIONS! WE DO HCG RX AND HOMEOPATHIC GLUCOSE SUPPORT FORMULAS 5 HTP GREEN COFFEE BEAN/GREEN TEA EXTRACT RASPBERRY KETONES IRVINGIA MEAL REPLACEMENTS LET EXPERTS WORK FOR YOU! ADRENAL HEALTH SALIVARY TESTING GOLD STANDARD ADAPTAGENS RHODIOLA, ASHWAGANDA, ELEUTHERO LICORICE PANTOTHENIC ACID VITAMIN C WITH BIOFLAVANOIDS REST DIET 11

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