The WSPA has co-sponsored with Profit Mastery to provide our members and affiliates with access to business management CPE programming through Profit Mastery University: Practical Tools for Financial Control, Survival, and Success. Profit Mastery University delivers today's most powerful, effective and sophisticated financial performance tools in plain English, laugh-out-loud streaming video format right to your computer, so you can watch it any time (Normally delivered in a classroom setting over two days, the course is now easily and conveniently viewed 24/7/365 in bite-sized segments online). This CE is targeted for Pharmacist and Technicians that are Pharmacy Business Owners and Managers.
Please click here for system requirements. Please click here to access PMU.
Practical Tools for Financial Control, Survival and Success
Faculty: Steve LeFever, Chairman and Founder, Profit Mastery
ACPE# 0130-9999-14-023-H04-P&T | Learning Type: Application | Initial Release Date: 2/20/2014 | Expiration Date: 2/20/2017 | Activity Length: 17 hours or 1.70 CEUs
Faculty Disclosure: Owner of Profit Mastery
At the completion of this activity, the participant will be able to:
- Analyze the key areas in your pharmacy business that need management action to improve.
- Create a “scorecard” for a business using ratios and pharmacy industry benchmarks, identifying strengths, weaknesses, and areas of opportunity.
- Create a profit and loss statement for planning in your pharmacy business.
- Calculate a yearly cash budget for your pharmacy business
- Prepare a twelve-month cash budget to determine short-term financing needs and negotiate with your bank for the amount of line of credit you will need for an entire year
- Perform an annual customer satisfaction survey to discover what is most important to your best pharmacy customers
- Demonstrate the effect of increased inventory turns in terms of growth capital required.
- Identify the primary "driver" of asset increases in an expanding pharmacy.
- Evaluate the effect of changes to the business to assess their potential impact on the cash budget to develop a growth plan.
- Create a forecast of the resources that your pharmacy business will require to grow.
- Create a loan proposal or financial business plan to present your pharmacy business needs to bank.
- Create a plan for debt in your pharmacy business that matches the length of projected repayment with cash flow or profit
- Describe how to find resources for transition planning and business valuation.
Instructions for getting CE credit: This CE activity has a total of 6 modules that must be completed in order to receive the 17 hours of CPE
- Watch all of the videos in each of the six modules in their entirety.
- Take the exam at the end of each module and pass with a 70% or higher.
- Send an email to Profit Mastery firstname.lastname@example.org letting them know you’ve completed the activity.
- They will send you an evaluation form that needs to be completed and sent to Maria Lieggi Maria@wsparx.org at Washington State Pharmacy Association with proof of completion.
- The Washington State Pharmacy Association will upload the CE to the CPE Monitor within 6-8 weeks after successfully completing all 6 modules and receiving the evaluation and proof of completion.
WSPA Members pay only $395 and Non-Members pay $695. Satisfaction is guaranteed; refunds are given up to 30 days after purchase minus shipping. Get the member discount by using the Member Coupon Code. Click here
For more information regarding each module, click here
The Washington State Pharmacy Association is accredited by the Accreditation Council for Pharmacy Education as a Provider of Continuing Pharmacy Education.
Profit Mastery is a co-sponsor with The Washington State Pharmacy Association