Keeping it simple
Earlier this year associates from Hamacher Resource Group, Inc. (HRG) returned from the Natural Products Expo West with armfuls of literature, samples, and ideas. In fact, the sheer volume of items they saw with the probiotic, ready-to-drink, immunity, or wellness-boosting attributes could easily fill a warehouse. The challenge, as I see it, is how in the world does a consumer know which products to consider, how to manage their consumption, and how to avoid hypervitaminosis or other supplement over-saturation?
That’s when one of those ideas I hadn’t thought of yet emerged.
According to a recent Harris Poll, a fourth of adults purchased a meal kit in 2016 and 70% of those have continued to buy them. Nielsen recently reported that the size of that market for the year ended March 4, 2017, was up 6.7%, to an estimated sales total of a whopping $80.6 million.
Stemming from this meal kit phenomenon, imagine a carefully — and personalized — wellness kit that combines specific products based on an individual’s goals. The kit may include dietary supplements and other complementary health products and self-care tools.
Granted the logistics of assembling this individualized “kit” could be a nightmare if managed in a warehouse…but why not build it in the store? (To prove that this idea is not crazy, it’s worth noting that nearly 1 in 5 meal kits purchased was picked up in-store.) And certainly when it comes to something as personal as one’s health, I think the best practice would be for consumers to first speak to an in-store adviser (pharmacist, nutritionist, or health coach) and then a custom kit would be prepared while they wait.
So, for health-conscious consumers actively making choices to prevent health conditions like obesity, diabetes, and high cholesterol, or to simply live a healthier lifestyle, positioning yourself as a partner and helping guide their choices may be a mutually beneficial solution. It’s an opportunity to build a strong connection with a valuable customer, and create a kit to fill a market void.
Dave Wendland is vice president and co-owner of Hamacher Resource Group, a retail healthcare consultancy located near Milwaukee, Wisconsin. He directs business development, product innovation and marketing communications activities for the company and has been instrumental in positioning HRG among the industry’s foremost thought leaders. You may contact him at (414) 431-5301 or learn more at Hamacher.com.
Walgreens’ Gourlay to ring Nasdaq closing bell
NEW YORK — In honor of Red Nose Day on May 25, Alex Gourlay, co-chief operating officer, Walgreens Boots Alliance, will ring the closing bell at the Nasdaq MarketSite in Times Square.
Red Nose Day, led by Comic Relief and supported by Walgreens, raises awareness and money for the Red Nose Day Fund, which benefits numerous charity organizations that have programs supporting the safety, education and health of children in need in the United States and around the world. Red Nose Day is on a mission to lift kids out of poverty and has raised over $1 billion globally in the last 25 years. From now until June 3, customers can participate and show their support by purchasing a Red Nose for $1 at any Walgreens or Duane Reade store, with all profits from all sales benefitting Red Nose Day.
The photo depicts Walgreens' Red Nose Day celebeation at the Nasdaq MarketSite last year.
Inaugural PQA-CVS Health Foundation Scholars complete program
ALEXANDRIA, Va. — The Pharmacy Quality Alliance and CVS Health Foundation’s inaugural class of 38 students and mentors have successfully completed a scholarship opportunity whereby students pair with a mentor to design and implement a quality-related project. The program concluded with the students presenting the results of their projects during the Poster Presentation session at the PQA Annual Meeting.
The inaugural year of the program supported 19 student-mentor pairs from 15 schools and colleges of pharmacy. In addition, three students were awarded additional scholarships for their outstanding projects and committed efforts throughout the program.
The top three Scholars and their projects are, as follows:
Julie Patterson, Virginia Commonwealth University School of Pharmacy, PharmD Candidate 2018; “The impact of objective quality ratings on patient selection of community pharmacies: A discrete choice analysis.”
Kavita Parikh, Midwestern University Chicago College of Pharmacy, PharmD Candidate 2018; “A pharmacist's role in transitions of care settings as part of a patient care management team to decrease re-admissions.”
Michael Peters, Purdue University College of Pharmacy, PharmD Candidate 2018; Comparing FAERS and Twitter data on high-risk medications for the elderly and the impact on the CMS star rating system.
"It was outstanding to see the successful work of our scholars and their mentors throughout this program and to see the culmination of their projects presented during our PQA Annual Meeting," stated Laura Cranston, PQA executive director. “The scholars demonstrated creative and innovative initiatives that will help drive the healthcare quality agenda forward. It has been a pleasure to work with the CVS Health Foundation to provide this opportunity to the student-mentor pairs and we look forward to our continued partnership during the second year of the program."
"The CVS Health Foundation is proud to partner with the Pharmacy Quality Alliance to help develop future pharmacists that will help enhance patient care and outcomes in healthcare," said Eileen Howard Boone, president of the CVS Health Foundation. "We look forward to working together for a second year as we continue to fulfill this program's mission."
PQA and the CVS Health Foundation also announce that applications for the second year of the PQA-CVS Health Foundation Scholars Program are now open. The deadline to apply is June 15.
PQA and the CVS Health Foundation are committed to supporting future pharmacy leaders and their education of quality performance and measurement. The goal of this scholarship program is to support and recognize student excellence in projects centered on quality-related initiatives; encourage, promote, and improve education surrounding quality measures and value-based models of care; and foster student interest and engagement in the development of quality-related initiatives. The program provides a scholarship for scholars to attend the PQA Leadership Summit in November and present the results of their project at the PQA Annual Meeting in May.