Who owns NPSC?
Legally, NPSC is owned by the 13 Board members that sit on the Board of Directors of the corporation. However, in spirit NPSC is owned by the pharmacies that are part of the network. No Board Member can financially gain from his/her participation on the Board. The only financial remuneration that Board members receive is expenses for attending meetings 4 times per year.
Who can become a Board Member of NPSC?
Pharmacy owners that have stores that belong to the NPSC network can request an application to join the Board. In addition, owners whose pharmacy is part of the network that would like to recommend a pharmacist that they have worked with in their business for 3 or more years, may also apply to become as Board member. For a well-rounded perspective we also have seats available for non-pharmacy owners as well. We currently have a Dean of a Pharmacy School, a retired Senior VP of a local bank a consultant to one of the Blue’s health plans and an owner of a transparent PBM that sit on our Board.
Is there a cost to join NPSC?
Currently, there is no fee to join NPSC. If your wholesaler is one that NPSC has approved for their vendor program, the wholesaler will pay NPSC .25% of your purchases up to approximately $250,000/mo. This fee is easily recoverable through our incentive sharing program we call Cost Reduction, which shares at a 50/50 rate all other purchasing incentive fees NPSC receives on your behalf from vendors selling: generics, bottles and vials, varied services etc. (Please see our vendor directory for more information). If you do not purchase from one of the approved wholesalers, you can still join NPSC and pay a Fair-Share fee. Please see section 5 below for more information
What is the membership application process?
The process is very simple. Just contact the NPSC office at 800-532-3742 and tell us you would like to join. One of our pharmacy consultants will call you and set up a meeting. Our consultant will help you fill out the agreement. Once the agreement is completed and signed, we then link you to all of our vendor programs and our third party network of plans (if you desire). Your field consultant will then continue to work with you providing the services and support you need for your business.
Do I have to use one of your prime wholesalers?
No, you do not. If you choose not to use one of our wholesalers you will be billed for your participation in the network. The cost is based on your wholesaler purchases so that it is fair for those large and small. Any and all NPSC vendor programs that you participate in that generate incentive dollars; will count toward payment of that bill. We have a few of our network pharmacies that are in this category and they feel that the benefits they receive from NPSC, far outweigh what they pay. Many pay nothing, as the incentives pay their bill.
How are incentive dollars distributed?
We share one-half of all monies received from our 40+ vendors in our program with the pharmacy network. In addition, there is a cap on wholesaler administrative fees ($625/mo single store, $1000/mo. multiple stores – same owner) so all monies received over that cap go back to the store as well. In 2016, over 1.5 million dollars was returned to the network in credits and incentives. Incentives are sent to the network quarterly with a report as to what vendor(s) contributed the incentives. NPSC strongly believes in transparency in our financial dealings with the network.
Can I buy some of the materials you provide your network?
Yes. There are a number of materials that we have produced for our network that we sell. Our HIPAA 2013-Privacy and Security, our Pseudoephedrine Log Book, Schedule II Inventory Binder, Fraud Waste and Abuse Web-Based Training and our Pharmacy Tech Training Manual. Call us for more information.
What does it cost to attend the NPSC Expo?
Nothing, if you belong to the network. All CE’s, food and giveaways are free! If you do not belong to the network, you can join us and enjoy all the festivities and get all the CE’s for you and your techs for $150 per day.
I am opening a new store. Can you help me?
Yes! That is one of the best times to contact us! Our field consultants are experts at what you need to do day one! We have assisted a number of new owners to open a store. We know what regulatory issues must be handled, what third party issues you must address and all the steps that can make this very overwhelming project a bit easier. Just call us; we will do all we can to help you.