The role of the pharmacist is expanding beyond the traditional dispensing role. In particular, pharmacists are embracing clinical opportunities for patient-centered care by engaging in activities such as medication therapy management, disease state management, health and wellness screenings, and immunizations. In addition, pharmacists are expected to manage people, inventory and expenses, improve quality, work collaboratively with the patient’s health care team, and provide personalized customer service.

It’s essential that students understand that health care is a business, and to grow pharmacy services and improve patient care, pharmacy leaders must be knowledgeable not only in clinical skills and science but also business skills. Employers recognize this need and have indicated that graduates with supplemental business knowledge and skills will be more competitive in the pharmacist job market. This additional knowledge and skill set can be developed with new or enhanced didactic and experiential offerings provided through the pharmacy business track.

The Kennedy Pharmacy Innovation Center Business & Entrepreneurship Program (formerly known as the Pharmacy Business Track or PBT) will better prepare students interested in any field of pharmacy practice. It provides an opportunity for students to be exposed to core business knowledge and pharmacy focused business training through the selection of appropriate electives, advanced experiential rotations, extracurricular activities, and focused faculty/practitioner mentorship.

The program is open to all students of the USC College of Pharmacy and some of the requirements can be met through coursework completed during the pre-pharmacy curriculum.

The program will guide students who have an interest in following:

• Pharmacy ownership
• Pharmacy management or administration
• Entrepreneurial careers and new business models
• Development of innovative solutions to emerging health care challenges
• Increased competitiveness in the pharmacist job market

• ​Expose pharmacy students to core business concepts
• ​Develop pharmacists that can adapt and respond to health care reform
• ​Develop pharmacists that are active leaders in the pharmacy profession
• ​Develop pharmacists that can create innovations to address health care needs
• ​Develop pharmacists that are more competitive in the job market
• ​Develop pharmacists that can succeed in the business and management of pharmacy practice

Any interested student is encouraged to sign up for the program in their Spring P1 semester to ensure that requirements are met. However, students may apply to the track program any Spring semester during the P1-P3 years.

Each student must complete an initial application to participate in the Business & Entrepreneurship (B&E) Program. Each student will also be required to submit a letter of interest for the Business & Entrepreneurship (B&E) Program. This letter of interest must include the student’s career interests and goals. Once the application is received, the student will be notified of their enrollment in the track and will be given access to the program materials. Applications are due by May 1.

Students are required to complete: 

1. The didactic curriculum requirements from the approved list of USC College of Pharmacy B&E courses (see below.)
2. At least one advanced practice experience rotation in Pharmacy Administration/Management/Ownership.
3. At least four different items on the Additional Activities list below.

Students enrolled in the program are responsible for submitting proof of requirement completion. What constitutes proof is listed in Blackboard. Students must upload these items into Blackboard. Failure to provide proof of completing any requirement will result in removal from the program. 

Drs. Gene Reeder and Patti Fabel are faculty members available for mentoring students as they progress through the program. Faculty mentors can also connect participating students with external mentors for additional advisement, shadowing, and experiential education.

Each student will be responsible for completing an initial self-assessment at the time of acceptance into the program. This should be completed within the first three months of enrolling in the program. The student will also be responsible for completing a final self-assessment at the completion of their APPE rotations. This should be completed no later than April 1st of the P4 year. Additional information on the self-assessment process is posted on the track’s Blackboard page.

One of the key components of the business plan competition involves implementing new services in a community pharmacy model that allows the business to grow beyond the traditional dispensing model. Dispensing prescriptions still is a key piece of the business, but you'll want to focus on a new service that is needed and potentially sustainable to aid in future business growth. 

Below are some emerging areas to help you:

• Specialty Pharmacy 
• Point of Care Testing
• Pharmacogenomics
• Compounding Pharmacy
• Patient-Centered Medical Home
• Clinic or Acute / Family Medicine Services
• Collaborative Practice Agreements and Practice Model with Primary Care Practices
• ​Immunizations
• Transitions of Care
• Population-Based Health Management
• ​Focus on Quality Metrics and the emerging Fee for Value payment models
• Revenue-Generating Opportunities for Community Pharmacists
• Medicare Annual Wellness Visits
• Medicare Chronic Care Management
• Medicare STAR Ratings
• Adherence Programs (Med Synchronization)
• Technology Implementation
• Wearable Technologies
• Mobile Tech Connections
• Wi-Fi Enabled Devices
• Telemedicine
• Community Pharmacy Enhanced Services Network (CPESN)