Since 2011, the School has offered an innovative certification program designed to advance practitioners who develop entrepreneurial skills through both didactic and experiential work. The program is designed specifically for doctor of pharmacy (PharmD) students interested in pursuing independent pharmacy ownership or who desire to work in a novel, innovative pharmacy practice setting.
Students practice navigating the opportunities and challenges found within the realm of entrepreneurial pharmacy practice, including:
- Assessing and taking calculated risks in a pharmacy business environment
- Improving patient outcomes by creating unique and timely solutions
- Applying pharmaceutical sciences knowledge
- Performing pharmacist directed patient care
- Responding to changes in health care laws and policies
- Enhancing patient care by creating new outcomes improvements paradigms
- Implementing innovate new pharmacy business solutions to enhance the patient experience and strengthen the business
Through the clinical experience component, students will explore community pharmacies which display unique and innovative go-to-market strategies, as well as skilled nursing facilities, hospitals and ambulatory clinics.
A certificate of completion of the Entrepreneurial Pharmacy Practice Program will be awarded when the student meets all of the following requirements:
- Academic Standards: The student must maintain good academic standing in the PharmD program throughout the duration of the Entrepreneurial Pharmacy Practice Program.
- Required Course: The student must complete PRAC 136 Entrepreneurial Pharmacy Practice (2 units) with a grade of B or better.
- Elective Course: The student must complete at least two units of approved elective course work with a grade of C or better. The following courses are approved to meet this requirement:
- PRAC 156 Opportunities in Pharmacy Practice (1 or 2 units)
- PRAC 193 Independent Study (1-4 units): approved, entrepreneurial focus
- BUSI 276 Entrepreneurial Management (3 units)
- BUSI 221 Entrepreneurial Finance (3 units)
- BUSI 272 Entrepreneurship (3 units)
- BUSI 282 Entrepreneurial Rapid Growth (3 units)
- BUSI 293 Special Topics in Entrepreneurship (1-4 units)
- Mentor Requirement
- Meetings: At the start of their second Introductory Pharmacy Practice Experience (IPPE) the student must meet with their mentor at least monthly in person, via phone or via video conferencing.
- Assessments: An initial and follow-up assessment of both the student’s and the mentor’s perceived competency will be performed using Program forms and reviewed by the student and the mentor. The assessments are submitted to the program director for review.
- Journal: Students must maintain a digital journal of their interactions, meetings and discussions with their mentors. The journal is to be submitted at the end of each semester.
- Experiential Requirements
- Experiential Learning: Students must complete at least three experiential rotations of IPPE and Advanced Pharmacy Practice Experience (APPE) at approved entrepreneurial sites, including at least one IPPE (PHRM 159 Community II IPPE) and one APPE (PHRM 174 Community Pharmacy APPE). The student must also complete one additional IPPE (PHRM 129 Community I IPPE or PHRM 160) or one additional APPE (PHRM 184 or 185 Elective APPE I or II).
- Business Plan and SWOT Analysis: During PHRM 159 Community II IPPE, the student, with direction from the preceptor and input from the mentor, must complete a business plan and Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis on a non-dispensing service that is either existing or to be developed at the practice site. The business plan and SWOT analysis are in addition to other activities required in PHRM 159. The business plan and SWOT analysis must include calculated break-even point, plans for development and marketing, and an evaluation of sustainability. project must be completed during PHRM 159 and submitted prior to the end of the course.
- APPE Site Evaluation: During PHRM 174 Community Pharmacy APPE, the student must evaluate the overall effects of an established service at the APPE site. The evaluation is in addition to other activities required in PHRM 174. The evaluation must include a brief description of the service and its history, an analysis of the impact of the service on patient care, the profitability and sustainability of the service, and the projected ease and difficulty associated with establishing and implementing the service at a different site. The project must be completed during PHRM 174 and submitted prior to the end of the course.
- APPE Site Evaluation Presentation: A brief, executive summary of the APPE Site Evaluation will be presented by the student at a meeting of the program director and representatives of both the administration and Board of Governors. Presentations or posters of the project at state and national professional meetings or publication of the project are highly recommended.
- Experiential Learning Abilities Assessment: Pre- and post-assessment of the perceived competency of both the student and the preceptor must be performed using Program forms and reviewed by the student and the preceptor during all entrepreneurial IPPEs and APPEs. The assessments are submitted to the program director for review.
- Documentation: The student must submit all of required documentation using the appropriate forms and methods as described by the program director.
- Professionalism: The student must display professionalism in all course work, experiential settings, and work environments. Any lack of professionalism may result in dismissal from the Entrepreneurial Pharmacy Practice Program at the discretion of the program director.
First-year PharmD students in good academic standing should contact the program director to express their interest. Students enter the program the end of their first semester to the end of the third semester. Exceptions may be made for second-year students at the discretion of the program director.
David Collum, MSP Program
Assistant Clinical Professor, Pharmacy Practice