Edeker delivers first remarks as the newly elected chairman of NACDS
Concluding his one-year term as NACDS chairman, John Standley (left) passes the gavel to incoming chairman Randy Edeker
PALM BEACH, Fla. — “It is an evolutionary time in the healthcare industry and pharmacy has the opportunity to be absolutely at the forefront of that.” That was a key message that Randy Edeker, chairman, CEO and president of Hy-Vee, had for attendees of Tuesday morning’s NACDS Annual Meeting Business Program.
Edeker delivered his first remarks as the newly elected chairman of NACDS. Moments earlier, he accepted the chairman’s gavel from John Standley, chairman and CEO of Rite Aid, who concluded his one-year term as NACDS chairman.
“Our association is in great hands under your leadership. I wish you well, and now I pass to you the chairman gavel,” Standley told Edeker.
In accepting the responsibilities of the chairmanship, Edeker thanked representatives of chain and supplier companies who encouraged his engagement with NACDS — all of whom told him that “these are good people” who unite as an industry through NACDS.
In forecasting what's ahead for NACDS over the next 12 months, Edeker described 10 perspectives on the state of “ever-evolving healthcare.” These include ongoing changes related to: Medicaid; healthcare delivery; attitudes and expectations of care; specialty pharmacy; quality measurements; technology and patient-managed health; millennial trends; cyber security; growing collaboration among companies through NACDS; and government and political involvement.
“The evolution of healthcare is here, with pharmacies as the face of neighborhood healthcare,” Edeker said. “The new healthcare definition includes environmental factors, nutrition, the social environment, emotional and spiritual factors. All of that is now in the healthcare definition,” Edeker said.
During his remarks, he also signaled his company’s strong commitment to using NACDS meetings and conferences — including the 2015 NACDS Total Store Expo, which will be held in Denver this August — to work with supplier partners on business planning and on innovative projects.
Edeker also noted the importance of the NACDS RxIMPACT grassroots advocacy program for effective government affairs, as well as the importance of the NACDS Political Action Committee.
In addition to noting the results and value of NACDS, Edeker described the public-health focus of the NACDS Foundation, including research in the areas of medication adherence and point-of-care testing. He also made an announcement to indicate his company’s admiration for the NACDS’ Foundation’s work.
“Today, the Executive Committee of Hy-Vee has elected to make a one-time gift of $100,000 to the NACDS Foundation,” Edeker told attendees.
In summarizing his remarks, Edeker said, “I think we are on the cusp of the greatest time for pharmacy in the history of pharmacy, really to be the neighborhood face of health and wellness and healthcare. So, here you have a voice. Here we can make impact and I’m here to serve.”
Setting the stage for Tuesday morning’s NACDS Annual Meeting Business Program was Caitlin Pappas, VP, U.S. consumer sales, Johnson & Johnson Family of Consumer Companies, which supported the Business Program.
Pappas kicked off her remarks by taking a look at the next generation. Enter Centennials. Centennials are younger than 17 years old and are vastly different than Millennials.
“Where Millennials are wildly optimistic and they view their world as their oyster, Centennials are more cautiously optimistic with a more mature outlook,” Pappas told attendees.
She also noted that Centennials cautiously approach social media and are discovering that it is a tool they can use to voice their support or displeasure with a product, store or service. They are also planners who are weary about what the future holds for them. Centennials also want to be different and to be their own brand, which prompted J&J to launch its “See the Real Me Campaign,” under its Clean & Clear acne brand.
Shifting gears, Pappas also touched upon regulatory reform and the opportunity it represents for the pharmacy industry.
“Our shoppers really need help both in getting value out of healthcare, managing their health and accessing healthcare,” Pappas said.
In outlining initiatives underway at J&J, Pappas said that, for example, J&J has created an initiative called “SEAL,” which stands for Simplify and Educate at Last. The program was designed to help consumers better diagnosis, treat and manage their conditions via a wellness destination with an improved and expanded allergy set, featuring symptom-based solutions for those with allergies.
The program also featured a keynote address by Lawrence Summers, who served as director, White House National Economic Council from 2009 to 2010 and as U.S. Secretary of the Treasury from 1999 to 2001.
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Supervalu net earnings slip in Q4
MINNEAPOLIS — Net earnings at Supervalu Inc. fell 14% to $36 million in the fourth quarter of fiscal 2014 from $42 million in the identical period a year earlier. Higher selling and administrative expenses, including store closure and benefit costs, helped reduce profits.
Net sales were $4.36 billion, 10% higher than $3.95 billion. The addition of a 53rd week in the fiscal year, strong performance at the Save-A-Lot and Retail Food banners, and a supply chain services agreement with the Haggen grocery chain in the Northwest helped boost sales performance.
“We finished the year with a strong quarter, highlighted by positive identical store sales at both Save-A-Lot and Retail Food as well as the transition of the first stores in our important new relationship with Haggen,” said president and CEO Sam Duncan. “Overall, fiscal 2015 was a year of strategic investment in all three of our business segments and I’m pleased with how these investments have positioned us for growth in fiscal 2016.”
During the full fiscal year, net income septupled to $700,000 from $100,000. Net sales increased 4% to $17.82 million from $17.15 million.