Rochester Drug Cooperative Funds Student-Operated Pharmacy
Albany College of Pharmacy and Health Sciences has announced that it secured funding from Rochester Drug Cooperative to support the opening of a student-operated pharmacy.
Albany College of Pharmacy and Health Sciences (ACPHS) has announced that it secured funding from Rochester Drug Cooperative to support the opening of a student-operated pharmacy. This “anchor” gift will provide the college with the support needed to launch the pharmacy and help fund its initial period of operation.
The pharmacy will be managed by licensed pharmacists with support provided by ACPHS student pharmacists. In addition to dispensing medications, the pharmacy will serve as a “collaborator,” where the college will partner with local health care providers to offer an expanded range of clinical services. Unlike traditional community pharmacies, the student-operated pharmacy will not offer any non-clinical consumer products.
One of the objectives for this initiative is to help fill the pharmacy void that often occurs in economically disadvantaged areas. For that reason, the college is exploring underserved areas of the Capital Region for a potential site. The long-term goal will be for the pharmacy to become the face of health care in its neighborhood, serving as a hub for various community and health-based activities.
“Most students interested in the business of pharmacy have to learn it through on-the-job training that occurs after they graduate,” said Larry Doud, CEO of Rochester Drug Cooperative. “Through this effort, ACPHS students will be able to participate in an innovative and entrepreneurial experience while still in school, learning both advanced pharmacy practices and the business skills required to operate a successful pharmacy.”
“The nation’s health care system is undergoing a major shift as the focus moves from volume-based care to value-based care. The resulting changes are impacting the way we approach and deliver care, and the practice of pharmacy is no exception,” said Greg Dewey, President of ACPHS. “The unique learning environment of the student-operated pharmacy will help prepare our student pharmacists to excel in this new era of health care and ensure they are not only ‘practice ready’ when they graduate, but that they are able to take it one step further and go beyond practice ready.”