Profile of a Career Path Independent Nuclear Community Pharmacy Owner Brief Description The independent community pharmacy owner is a hybridized role that emphasizes pharmacist management skills in a community setting. The individual is responsible for both providing care to the community and for maintaining the stability of the business itself. It is necessary for the owner to be capable of leading a team, often less than 10 persons but can increase with store growth, and have accounting skills.
The owner, generally, has a large sum of money invested in the pharmacy and as such their financial stability is intertwined to the success of the nuclear pharmacy. A typical day may include tasks such as handling radioactive substance, handling conflicts between staff members, filling nuclear prescriptions, ensuring the proper handling of radiopharmaceuticals, and communicating the proper radiopharmaceutical-related information to others. The biggest challenged for persons considering a career in this area are the time and money that must be invested to initially start a nuclear pharmacy.
Equipment used in a nuclear pharmacy tends to be more expensive. Tungsten shields and leaded glass shielding are some of the more expensive items found in a nuclear pharmacy. About three quarters of a million dollars needs to be invested in inventory, and for a new graduate, that is a large sum of money. Nuclear pharmacy owners spend a great amount of their time in work-related activities, and 80 hour work weeks are not uncommon. The stress level that comes with the added responsibility of running the business can be taxing.
It may take many years before the pharmacy is profitable, and it is entirely possible the store will never become profitable. One must consider all of these possibilities before deciding upon a career as an independent community pharmacy owner. Career Preparation It would be helpful for a person entering this career to take non-pharmacy elective courses such as accounting. This would be helpful in preparing for the business functions of the career. Also, any class that overs a curriculum that covers radioisotope handling would be beneficial.
Further, any elective that covers the handling of unsealed radioisotopes would be equally beneficial. A residency is not especially helpful for this career path. The most important additional function of this career path is the ability to maintain a successful business, and obtaining an MBA may be useful. At the end of the day it is up to the pharmacist to succeed independently in this field. The amount of degrees one holds is not the ultimate factor. The entrepreneurism of the person is the most vital aspect.
Successful independent nuclear pharmacy owners have succeeded with a BS in pharmacy or a PharmD but they all have a lot of ambition. References for Personal Library One would want to have texts in the personal library so that they could quickly reference radioisotopes, quality control, drug interactions, radiation dose, information on iodine, and body systems in which radiopharmaceuticals are used. The most helpful books in this setting would be texts that cover all of the above mentioned information.
There are not specific texts devoted to independent nuclear pharmacy owners, but they would benefit from having a text as such. In regard to journals, it is vital for the pharmacist to stay on top of changes in the field, so journals related to nuclear pharmacy will be helpful. Periodicals that discuss general financial and business will also be helpful. A list of texts, journals and periodicals is provided below. Nuclear Pharmacy: Quick Reference Investors Business Daily The Joint Commission (JCAHO) and Nuclear Pharmacy
Pharmacy Purchasing & Products Employment Outlook An independent nuclear pharmacy owner is not directly employed by anyone, a pharmacist could potentially open a store anywhere, assuming funding was available. There are no statistics on employment projections of small business owners. The main problem is making the nuclear pharmacy profitable, this depends on the amount of local competition. In general, the employment outlook is moderately good.
The pharmacist aggregate demand index states that the supply of pharmacists in the nuclear community setting is about equal to the demand. This leads me to believe that job prospects are good. The bereau of labor and statistics predicts an overall 12% increase in the job availability for nuclear pharmacists over the next ten years, however, this figure is not exclusive to nuclear pharmacists. Based on the conversation I had with an independent nuclear pharmacy owner, it is difficult to succeed in many metropolitan areas with the amount of competition on the rise and decreasing reimbursement from payers.
Finding a niche in the market will greatly help ones chances of turning a profit. There will surely be jobs available in the nuclear pharmacy field, however, one must make an extra effort to attract business in the form of specialty services or laboratory testing to stay in business. Future Trends The general aging of the population will certainly result in a large increase of need for radiopharmaceuticals. Additionally, an improvement in the laws that allow pharmacists to work and administer radiopharmaceuticals will help to improve the job market.
The rapid interest in radiopharmaceuticals is also aiding in improving the job market for independent nuclear pharmacy owners. Considering the speed at which technology advances, it is conceivable that by the end of our careers traditional community pharmacies may be outnumbered by nuclear community pharmacies. Type of Employer This career path is similar to any small business in which the nuclear pharmacist is self-employed. They typically work in a nuclear pharmacy setting within the community, and hold a great amount of responsibilities.
Bibliography 1)“Aggregate Demand Index. ” n. d Web. 11 March 2013 http://www. pharmacymanpower. com/setting. html. 2)Devveney, John. “Owning and Operating an Independent Nuclear Pharmacy. ” Personal interview. 10 March. 2013 3)“Pharmacists. ” U. S. Bureau of Labor Statistics. n. d. Web 12 March 2013. http://www. bls. gov/oco/ocos079. htm. “Medication Management in Nuclear Pharmacy : March 2012 – Pharmacy Purchasing & Products Magazine. ” Medication Management in Nuclear Pharmacy : March 2012 – Pharmacy Purchasing & Products Magazine. N. p. , n. d. Web. 11 Mar. 2013.