Page 7 - RxBound - Summer 2015
P. 7
partnerships are demystified in the
beginning of the course, with a discussion of Anthony Do, PharmD ’12, puts a
pros and cons to each. Students decide on
their corporate structure and are asked to pharmacist in your pocket
describe all aspects of a business plan. No
detail is left behind and plans must include By Jeff Malet, Writer/Photographer
a logo, business name, branding, location
analysis, market analysis, a description of
services and products, financials, and three- Western University of Health
year store projections through pro-forma Sciences’ College of Pharmacy
modified balance sheets with cash flows and alumnus Anthony Do, PharmD
income statements. Plans must be orally ’12, has created a smartphone
defended to pharmacy experts through a application, Medicyne, which
presentation and are given a final score helps users determine what kind of
based on whether a bank would choose to over-the-counter (OTC) drugs to
fund each plan, making the process as close buy based on their symptoms.
to the real world as possible.
Do, a resident of Upland,
Mentorship is critical to success in the California, said he launched the
course and each student is assigned to a app on iTunes in February 2015 to
pharmacy owner who serves as a be an extension of the
mentor/preceptor. Students are in the neighborhood pharmacist, helping
classroom one day each week for a full day individuals understand their own
of lectures, and on the remaining days they health care better and make more informed decisions.
are out in the field meeting with their
mentors. Here, they witness what they “Many people do not know how to navigate over-the-counter
learned in the classroom applied to a real medications, or it’s a very difficult process, so I see this app as a solution
business setting and have the opportunity to to capturing all the information you input,” Do said. “It analyzes the
ask their mentors about the vendors they information and then recommends products, which can improve safety
use and services they provide. Along with for the patient and can eliminate potential drug interactions.” He also
meeting with their mentors, students are hopes the app will allow pharmacists to provide better patient care.
exposed to expert guest speakers from the The idea for Medicyne came to Do in 2011, when he was working on a
industry, including wholesalers, insurers, business development plan while attending WesternU, taking the College
lawyers, bankers, and vendors for various of Pharmacy’s Advanced Elective on Entrepreneur Independent Pharmacy
services such as durable medical equipment. Ownership with Jesse Martinez, PharmD, Vice Dean, Academic Diversity
At the end of the course, students obtain at and Development.
least 14-20 business cards from industry
insiders who might one day be a key “Dr. Martinez was trying to get us to think outside of the box, finding
resource in starting a business. how we can change the pharmacy business,” Do said. “For the past 100
or so years, it’s been the same business model, so he inspired me to think
As a measure of success, it is reported that of how I could use my interest in technology to change the pharmacy
over 250 students have taken the course and user experience.”
of those 13% or 33 have become successful
pharmacy owners to date. Past students Do had help. Co-founder Tracy Pan, from Los Angeles, handles
who are now pharmacy owners say that the Medicyne’s public relations and business marketing, and some
advanced elective offered at WesternU has development. The two also hired a friend from Vietnam, Thanh Vo, to
provided them with an entrepreneurial develop the application.
“know how.” The entrepreneurs also valued Do plans to keep adding features to Medicyne, including one that would
the life-long professional mentorship they alert a doctor or pharmacist when a consumer needs to see one of those
received. professionals. He also sees medical therapy management (MTM) as the
*A portion of this article has been reproduced with permission future of pharmacy, and says his app will be a tool to help manage
from America’s Pharmacist, “Getting Down to Business”. pharmacists’ time.
Do and his team has indicated that his company is now “pivoting” into a
new digital venture and will continue to apply his entrepreneurial
instincts and professional training as a pharmacist.
WesternU, College of Pharmacy 5
beginning of the course, with a discussion of Anthony Do, PharmD ’12, puts a
pros and cons to each. Students decide on
their corporate structure and are asked to pharmacist in your pocket
describe all aspects of a business plan. No
detail is left behind and plans must include By Jeff Malet, Writer/Photographer
a logo, business name, branding, location
analysis, market analysis, a description of
services and products, financials, and three- Western University of Health
year store projections through pro-forma Sciences’ College of Pharmacy
modified balance sheets with cash flows and alumnus Anthony Do, PharmD
income statements. Plans must be orally ’12, has created a smartphone
defended to pharmacy experts through a application, Medicyne, which
presentation and are given a final score helps users determine what kind of
based on whether a bank would choose to over-the-counter (OTC) drugs to
fund each plan, making the process as close buy based on their symptoms.
to the real world as possible.
Do, a resident of Upland,
Mentorship is critical to success in the California, said he launched the
course and each student is assigned to a app on iTunes in February 2015 to
pharmacy owner who serves as a be an extension of the
mentor/preceptor. Students are in the neighborhood pharmacist, helping
classroom one day each week for a full day individuals understand their own
of lectures, and on the remaining days they health care better and make more informed decisions.
are out in the field meeting with their
mentors. Here, they witness what they “Many people do not know how to navigate over-the-counter
learned in the classroom applied to a real medications, or it’s a very difficult process, so I see this app as a solution
business setting and have the opportunity to to capturing all the information you input,” Do said. “It analyzes the
ask their mentors about the vendors they information and then recommends products, which can improve safety
use and services they provide. Along with for the patient and can eliminate potential drug interactions.” He also
meeting with their mentors, students are hopes the app will allow pharmacists to provide better patient care.
exposed to expert guest speakers from the The idea for Medicyne came to Do in 2011, when he was working on a
industry, including wholesalers, insurers, business development plan while attending WesternU, taking the College
lawyers, bankers, and vendors for various of Pharmacy’s Advanced Elective on Entrepreneur Independent Pharmacy
services such as durable medical equipment. Ownership with Jesse Martinez, PharmD, Vice Dean, Academic Diversity
At the end of the course, students obtain at and Development.
least 14-20 business cards from industry
insiders who might one day be a key “Dr. Martinez was trying to get us to think outside of the box, finding
resource in starting a business. how we can change the pharmacy business,” Do said. “For the past 100
or so years, it’s been the same business model, so he inspired me to think
As a measure of success, it is reported that of how I could use my interest in technology to change the pharmacy
over 250 students have taken the course and user experience.”
of those 13% or 33 have become successful
pharmacy owners to date. Past students Do had help. Co-founder Tracy Pan, from Los Angeles, handles
who are now pharmacy owners say that the Medicyne’s public relations and business marketing, and some
advanced elective offered at WesternU has development. The two also hired a friend from Vietnam, Thanh Vo, to
provided them with an entrepreneurial develop the application.
“know how.” The entrepreneurs also valued Do plans to keep adding features to Medicyne, including one that would
the life-long professional mentorship they alert a doctor or pharmacist when a consumer needs to see one of those
received. professionals. He also sees medical therapy management (MTM) as the
*A portion of this article has been reproduced with permission future of pharmacy, and says his app will be a tool to help manage
from America’s Pharmacist, “Getting Down to Business”. pharmacists’ time.
Do and his team has indicated that his company is now “pivoting” into a
new digital venture and will continue to apply his entrepreneurial
instincts and professional training as a pharmacist.
WesternU, College of Pharmacy 5
