Aug 27, 2013
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What area of practice should I go into?

I keep on hearing about hospital lay-offs and not sure if I want to do clinical for that reason.

I always hear retail pharmacists won't be around if the law changes where a pharmaicst has to be there.

What do you guys think? Should I go into regulatory affairs for a big pharma (there will always be rules around drug development/approval).
 

BeLikeBueller

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Oct 3, 2013
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You should do what you like and you think you will be good at. There are no guarantees in life, period.
^^This sounds like good advice. If you hate your job, I'm not sure recession proof will help you get out of bed in the morning. I also highly doubt that any practice area will be done away with any time soon. You might face steeper competition in some areas compared to others, so if you plan on moving around a lot, that could theoretically be a factor. Even then, I'm not sure that job portability trumps enjoying what you do, but that's more of a personal preference.
 
Oct 27, 2013
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There are a handful of areas in pharmacy where there's a shortage. You just have to do your research as to which ones. Those are your recession proof areas.

However, as with anything you do, you better like it or else you will be miserable.
 
OP
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Aug 27, 2013
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You should do what you like and you think you will be good at. There are no guarantees in life, period.
I thought about majoring in art in college but was talked out of it. Glad I didn't because I followed the advice of doing what I like, I would be in bad shape.

No guarantees, but I can make a calculated decision.
 
OP
O
Aug 27, 2013
47
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There are a handful of areas in pharmacy where there's a shortage. You just have to do your research as to which ones. Those are your recession proof areas.

However, as with anything you do, you better like it or else you will be miserable.
Thanks for useful reply. What do you reccomend me going into?
 
Oct 27, 2013
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I thought about majoring in art in college but was talked out of it. Glad I didn't because I followed the advice of doing what I like, I would be in bad shape.

No guarantees, but I can make a calculated decision.
Majoring in art isn't bad. Look where it got her.....




The ultimate UNICORN!
 

IndustryPharmD

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There are a handful of areas in pharmacy where there's a shortage. You just have to do your research as to which ones. Those are your recession proof areas.
It's extremely naive to think of something as "recession proof" just because there is a shortage in any given time. For most of us, our working lives will span ~40 years, it's unrealistic to believe that any area will always be "safe". At best, it will be "safe" for 5-10 years. Nothing will guarantee you 40+ worry-free years. Except, possibly, a lobotomy. :smack: I have seen plenty of people get a very rude awakening after 25+ years at a company when they were laid off and they thought they were there for life. Better NOT to expect a lifelong gravy train...
 
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IndustryPharmD

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I thought about majoring in art in college but was talked out of it. Glad I didn't because I followed the advice of doing what I like, I would be in bad shape.
Art? Weren't we talking about areas within pharmacy here? :smack:
 
Oct 27, 2013
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It's extremely naive to think of something as "recession proof" just because there is a shortage in any given time. For most of us, our working lives will span ~40 years, it's unrealistic to believe that any area will always be "safe". At best, it will be "safe" for 5-10 years. Nothing will guarantee you 40+ worry-free years. Except, possibly, a lobotomy. :smack: I have seen plenty of people get a very rude awakening after 25+ years at a company when they were laid off and they thought they were there for life. Better NOT to expect a lifelong gravy train...

5-10 years is what a pharmacist needs to pay off colossal loans (especially if they live frugally AND no catastrophe happens like illness or natural disasters, etc.). I am really talking about new graduates that have ever dwindling job prospects. Senior pharmacists will always be in demand (most of the jobs I see online are for pharmacy managers and directors). It's important that new graduates remain very adaptable in this extremely volatile pharmacy job market (residencies, fellowships, relocation, alternative careers, etc.)

There are recession proof/recession-safe jobs for pharmacists especially if one joins a union (hospital). However, not all hospitals unionize their pharmacists. Residencies used to be considered "safe". Not anymore as residencies can no longer guarantee employment. Fellowships mainly follow managed care/pharmaceutical industry tract. That route cannot possibly sustain the majority of new graduates. Relocation is well and good (if you can afford it).......that's until the next wave of graduates hit.

Best bet? Have an alternative to fall back on and keep "re-inventing" yourself every 2 years to stay ahead as nothing is ever fool proof. Student loans are the deal breaker.
 

Its Z

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Informatics.

Electronic Health Record and IT have become the next beast where healthcare cannot function without.

And It's not going away.
 

rxlea

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Informatics.

Electronic Health Record and IT have become the next beast where healthcare cannot function without.

And It's not going away.
This.
 

stoichiometrist

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I kept hearing that the pharmacy profession was "recession proof" in 2008-2009 when people in other fields were getting laid off left and right during the recession, since people will "always need their medication." Look where we are at now. There is no field that is truly immune to a recession.
 
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stoichiometrist

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Informatics.

Electronic Health Record and IT have become the next beast where healthcare cannot function without.

And It's not going away.
From what I've seen and heard, many of the positions in informatics are temporary. There will likely be increased demand in the next few years due to Obamacare incentives, but that is not to say current informatics pharmacists (especially the temps) won't be let go when they have finished implementing EHR and updated IT systems.
 

joetrisman

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From what I've seen and heard, many of the positions in informatics are temporary. There will likely be increased demand in the next few years due to Obamacare incentives, but that is not to say current informatics pharmacists (especially the temps) won't be let go when they have finished implementing EHR and updated IT systems.
There is no finish with technology
 

Momus

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Adult industry >_>; Recession proof!
 

Its Z

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From what I've seen and heard, many of the positions in informatics are temporary. There will likely be increased demand in the next few years due to Obamacare incentives, but that is not to say current informatics pharmacists (especially the temps) won't be let go when they have finished implementing EHR and updated IT systems.
Implementation is done by EHR co and contractors along with the facility. But facilities must have continual support from their own clinical Informaticists.
 
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stoichiometrist

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Implementation is done by EHR co and contractors along with the facility. But facilities must have continual support from their own clinical Informaticists.
Good to know. The informatics pharmacist that I shadowed works on a contract for a large health system here. It didn't seem as though he has good job security.
 

Its Z

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Good to know. The informatics pharmacist that I shadowed works on a contract for a large health system here. It didn't seem as though he has good job security.
That's the contractor. Site still needs informaticists.
 

Its Z

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340B expert
 
S

Sardinia

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I'm an administrative 340B expert. I advise hospitals to always build cancer clinics so they get reduced drug costs and maintain the profits for forcing patients to pay the drug at face value.
 

Its Z

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I'm an administrative 340B expert. I advise hospitals to always build cancer clinics so they get reduced drug costs and maintain the profits for forcing patients to pay the drug at face value.
Except that doeant work For CA hospitals and FQHCs.

Also, How can a hospital up and build a cancer clinic without oncology service?

What kind of expert are u
 
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Its Z

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By the way CA doesn't stand for cancer Or California.
 

Its Z

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rxlea

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Do you know what it is?
Critical access hospitals and federally qualified health centers.

I had rotations at both.

But we usually use "CAH" for the former.
 
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Its Z

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Critical access hospitals and federally qualified health centers.

I had rotations at both.

But we usually use "CAH" for the former.
Why is cancer center a bad idea for a cah
 

Its Z

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You stick to your drug repping
 
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Its Z

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Its Z

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Next year they are rolling out that pill that cures cancer, so the centers will be obsolete. ;)
If so, 340B Covered Entities would jump all over it and prescribe the heck out of it...and make a crapload of money through 340B Retail Contracts.

Even then CAH wouldn't be able to benefit from it.
 
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Its Z

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seriously... no response?

340B is the single most profitable program for both hospital based and retail pharmacies today... and no one?
 

Its Z

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This.

Better yet, combine the two, come up with a bug-free/user-friendly software and/or consult on the side; win.
2 people who created a simple 340B split billing/purchasing software hit it big!!! I was their 30th customer... now they have hundreds and sold the co to a major company.
 
OP
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2 people who created a simple 340B split billing/purchasing software hit it big!!! I was their 30th customer... now they have hundreds and sold the co to a major company.
Were they clinical pharmacists? I doubt they have any skill sets worth having if they do not have the clinical background. For all we knows, they could hire engineers from India to build.
 

Its Z

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Were they clinical pharmacists? I doubt they have any skill sets worth having if they do not have the clinical background. For all we knows, they could hire engineers from India to build.
340B is not about clinical pharmacy. It's about regulation, drug pricing, and purchasing. One is a pharmacist and the other is an IT person. Pretty awesome what they did.
 
OP
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340B is not about clinical pharmacy. It's about regulation, drug pricing, and purchasing. One is a pharmacist and the other is an IT person. Pretty awesome what they did.
Would you consider students to learn about this side of pharmacy (regulations, pricings, purchasings)?

Or better off learning more the clinical side?
 

Its Z

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Would you consider students to learn about this side of pharmacy (regulations, pricings, purchasings)?

Or better off learning more the clinical side?

I think everyone should know pharmacy financials. If you work at a hospital, befriend the purchaser and DOP. And pick their brain.
I like it when students and pharmacist can quote drug pricing... like..."Zyvox is $220 per day..." and "Dapto is $280 per vial" etc.
 

Its Z

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One of the coolest thing I saw last year was the drug shortage APP created by a P4. Though drug shortage has been subdued some now but I thought he was pretty innovative.
 
OP
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I think everyone should know pharmacy financials. If you work at a hospital, befriend the purchaser and DOP. And pick their brain.
I like it when students and pharmacist can quote drug pricing... like..."Zyvox is $220 per day..." and "Dapto is $280 per vial" etc.
Thanks!

I will learn as much about 340b as i can...will see what class teaches this.

So i can get a job as a consultant after this?
 

Its Z

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Thanks!

I will learn as much about 340b as i can...will see what class teaches this.

So i can get a job as a consultant after this?
LOL, no. There is a program called 340B University taught by APEXUS (340B contracting body) in Dallas. That's a good place to start. Your facility may not even be 340B. After being a 340B admin for your facility and with experience, yes, you can consult.
 

Protongenic

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LOL, no. There is a program called 340B University taught by APEXUS (340B contracting body) in Dallas. That's a good place to start. Your facility may not even be 340B. After being a 340B admin for your facility and with experience, yes, you can consult.
Hmmm. Out of curiosity, how long do you suspect the 340B gravy train will last; who will win the tug of war with big pharma?