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The voice for compounding pharmacy | May 31, 2019
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From IACP's President...
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IACP just concluded its annual Compounders on Capitol Hill event in Washington, D.C., in which 115 compounding pharmacists and technicians participated. Total attendance exceeded 200. Among the meeting highlights were compounder visits with about 150 members of Congress or their health staffers. Every indication is that we'll see a good number of new co-sponsors for HR1959 and additional signers on the congressional letter to FDA regarding the MOU (several have already signed on as a direct result of our visits). In addition, CompPAC, IACP's political action committee, hosted a successful fundraising reception for pharmacy champion Congressman Henry Cuellar (D-TX), as well as a fundraiser for the PAC featuring Congresswoman Diana DeGette (D-CO). CCH also included great CE sessions on policy-related topics such as USP <800>, FDA inspections and more. If you attended, thank you. We did good work together. If you missed it, know that we missed you - and hope you'll join us next time.
Speaking of next time:
The IACP Board has asked our EVP to propose a new, more condensed (and affordable) footprint for CCH 2020. He'll be developing a framework for moving CCH to September, just after Labor Day, with a format that requires most attendees to be away from home for only one night - fly in to DC on a Wednesday morning, get briefed that afternoon, enjoy time with our sponsors that evening, Hill visits all day Thursday, then you're back on a plane headed home that afternoon. We believe this proposed fly-in format will attract more attendees because it requires less time away from your business. The board will likely make a decision on the meeting format soon, so if you have thoughts or input, I hope you'll let us know.
Some other things to pay attention to in our newsletter below:
* IACP's new partnership with
RiskAlert-Rx, which can provide a free, no-obligation gap analysis of your business insurance, including product and professional liability coverage.
* The results of our recent IACP member survey, in which you gave us high marks - and direction on the kinds of things you expect us to be focused on.
* A new state-by-state resource on veterinary compounding we'll debut in July, thanks to a grant from the IACP Foundation.
Read on - and please keep encouraging your colleagues and team members to join IACP. We're stronger together!
Jennifer Burch, PharmD, RPh, CDE
President
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Survey results show strong member support for IACP
Results of IACP's recent member survey indicate strong support among respondents for the association and its focus on advocacy, information services and ethics.
A healthy 67 percent of respondents indicated they were highly likely to recommend membership in IACP to a colleague, with only eight percent indicating they were less likely to make such a recommendation. From those numbers, IACP's "net promoter score" - a measure of
customer loyalty to an organization - is 58.3 (see illustration at left for explanation).
"We're on the low end of very good, which isn't a bad place to be, considering the drift the association has experienced in the past five years," said IACP's executive vice president Scott Brunner. "It tells me there's plenty of goodwill and support out there that can help us grow membership, grow revenues and grow our effectiveness. For context, Apple, Southwest, American Express, companies like that tend to have NPSs in the 70s and 80s, and they tend to be among the best-loved companies out there."
The survey asked respondents to list adjectives, both positive and negative, they'd use to describe IACP. The positive adjectives far outnumbered the negative and are shown in the image at left.
"The imperative is to capitalize on that goodwill, to engage those IACP "promoters" in helping recruit new individual and corporate members," Brunner added. "That's our aim."
Respondents to the survey overwhelmingly affirmed IACP's focus on advocacy, with more than 97 percent of respondents indicating that the association's legislative, regulatory and political advocacy efforts were most important to them. The top three priorities indicated by the survey results were:
- "Protecting your compounding pharmacy via legislative and regulatory lobbying"
- "Keeping you informed about news, issues and trends impacting your compounding pharmacy."
- "Elevating the image and integrity of compounding professionals by promoting and enforcing a Compounding Code of Ethics."
In addition, respondents overwhelmingly indicated that "compliance with FDA regulation" and "navigating USP changes and compliance" were the two biggest challenges they are currently facing in their compounding business.
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Foundation grant will fund IACP state-by-state vet compounding resource
The IACP Foundation has granted funds to IACP to create a comprehensive resource on state veterinary law and regulation.
The new resource is expected to debut in July.
"This new tool will fill a void," said IACP's Scott Brunner. "By providing IACP members thorough, up-to-date information on how each state regulates veterinary compounding, we enable those members to run their businesses with integrity and better serve their animal patients. It's part of IACP's aim to be a resource to our members on information about regulation affecting their compounding business. We're grateful to the IACP Foundation for the grant that will fund this new tool."
The resource, to be housed on IACP's website, will include citations, links to websites, appropriate statute and regulatory text, specific columns indicating where office use and veterinary office use is permitted, pharmacist compounding or veterinarian compounding, allowed to dispense to non-human patient, and any special requirements/prohibitions/conditions regarding state veterinary compounding regulations.
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NEW: FREE risk management analysis for IACP members
Introducing a new member benefit from IACP and Britton Gallagher:
RiskAlert-RxSM
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It's a comprehensive risk exposure and insurance policy gap analysis service specially designed to assist IACP member owners better understand their risks of loss, how their current insurance program addresses exposures, and provides step-by-step solutions to address any deficiencies with their current insurance program. Best of all, the initial risk analysis is absolutely free to IACP members.
"I am truly amazed at how many significant limitations exist in the insurance programs for specialty and compounding pharmacies," said Bruce Ball, Britton Gallagher's CEO. "Owners and senior management incorrectly assume they are covered and do not know these gaps in coverage exist. When presented with the results of the RiskAlert-RxSM audit, one owner of a 503A pharmacy stated they wanted us to find a new insurance company NOW, and not wait until their renewal because the shortfalls were so significant. We are bringing this auditing service to the industry to raise awareness of these underlying issues and assist owners in solving these significant problems."
The new service is offered free of charge to IACP members, with no requirement that the pharmacies create a business relationship with Britton Gallagher. Britton Gallagher is an insurance brokerage firm, not an insurance company, which means they will provide a non-biased, non-conflicted review of the company's policy.
"This new RiskAlert-RxSM program is another step towards protecting our compounding members' businesses and patients. Ensuring you have the correct coverage for your practice is one of the most important steps you can take as a compounding pharmacist and business owner."
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IACP members testify at workshops on BHRT and pain creams
Several IACP members were invited to participate in recent workshops hosted by the National Academies of Sciences, Engineering, and Medicine. The workshops focused on the safety and effectiveness of ingredients used in compounded medications. IACP members Jim Hrncir, Loyd Allen, Gus Bassani, and AJ Day offered comments and answered questions on May 6 in a NASEM workshop on bioidentical hormone replacement therapy. IACP members AJ Day, John Voliva, Linda McElhiney, and Gus Bassani offered comments in a May 21 NASEM workshop on topical pain creams. The workshops are part of the information-gathering for two NASEM studies, commissioned by the Food and Drug Administration, that will evaluate available scientific data related to compounded BHRT and topical pain creams.
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Support bipartisan expression of disappointment to President Trump on Pharmacy DIR fees
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Save $200 on upcoming Compounding Compliance Conference
We're proud to support CBI's
2nd Annual Compounding Pharmacy Compliance Conference.
Visit the
conference website
to
download the brochure. Use the exclusive IACP Members Discount Code KAN583 to get $200 off the standard registration fee.
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$500 discount on PCAB accreditation for IACP members
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Kindergarten rules: follow the leader (and share!)
As the voice for pharmacy compounding, IACP is active on social media. Join the conversation by following us on Facebook, Twitter and LinkedIn today.
When you like and share our social media posts you amplify IACP's voice.
- On Twitter: Search @IACPrx and click "follow."
- On Facebook: Search for International Academy of Compounding Pharmacists and "like" our page.
- On LinkedIn: Search for International Academy of Compounding Pharmacists and join our group.
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Other stuff worth reading
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IACP Compounder Calendar
IACP's
Compounder Calendar
is your one-stop resource for all things compounding! Compounder Calendar provides a comprehensive listing of compounding events and continuing education programs.
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Webinar THIS TUESDAY:
1:00 - 2:00 p.m. CST
Patrice Shook, CPhT
Compliance Officer, Pharmacy Solutions
Understanding the Certificate of Analysis will lead to more precise final preparations. Calculating for LOD and understanding chemical storage in your geographical location will improve your preparation test results.
And don't miss these pre-recorded
webinars, ready when you need them, from IACP:
These are perfect for self-paced learning. Click title for details.
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It's an investment with a return... Please
INVEST in IACP's One Fund and help preserve patient access to compounded medications via IACP's advocacy efforts!
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