{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Ep 108 Pharmacy News Weekly 5 26 2018","description":"I go over the weekly blogs, podcasts and videos and news I've found helpful.  Check out my new book Memorizing Pharmacology Mnemonics here which will be coming out as an audiobook in a few weeks: https:\/\/www.amazon.com\/Memorizing-Pharmacology-Mnemonics-Questions-Pharmacist-ebook\/dp\/B07BRNP1C3 Full Transcript: welcome to the pharmacy leaders podcast with your host Tony Guerra the pharmacy leaders podcast is a member of the pharmacy podcast network with interviews and advice on building your professional network brand and a purposeful second income from students residents and innovative professionals hey welcome to the pharmacy leaders podcast it's going to be probably three days a week maybe we'll try to keep up with that I thought that I wouldn't be talking to too many people over the summer but I've talked to a couple of people on optometrists who wrote one of the e-myth books so if you're familiar with the e-myth series it sold millions and millions of copies and it's basically if we end up being I know provider status isn't going through this year or it looks like that's not gonna happen but if we do get it then we become solo practitioners and what can end up happening like it does for optometrists and accountants and physicians and those that can do have their own practice is that it takes over our lives and instead of having a systemized position that you know fulfills us we end up just having a job that you know imprisons us and we'll get to hear from dr. gloom who's an optometrist up here in New Hampton Iowa but he was close with Michael Gerber and creating that book and that was really cool we will hear from Cobo this week I'll put that episode up I want to do a little bit of an intro because I just put my books up on covo and when you're self-publishing and there's little tweaks to it if you do it on lulu.com but you hit Kobo you're limited in the categories that it's gonna go in so I was you know being ranked as a nonfiction book of all nonfiction books and you don't really want that what you want is to be very specific about your category pharmacology or whatever it is so that you can get a much higher ranking and get noticed by people that are looking to read book on so I'll definitely have that as well and then I'm looking forward to I'll talk a little bit more about his podcast but interviewing metod 101's Erik Christensen so that'll be cool coming up so a lot of fun this summer and I'll try to make it fun as well a next-generation pharmacist Awards you still have six days to sign up for this if you want to see me getting my runner-up award you can I'm at 346 on the YouTube video the 2017 next-generation pharmacist Awards highlights my daughter's came with me to San Diego with my wife and it was very cool but just like having kids you know my daughter that we were at the San Diego Zoo and an hour before I actually went up to receive the award one of my kiddos runs into this boy and they just bonk and hit each other and she passes out and stops breathing and so we have this event but my wife and I have been so I don't know used to so much happening that we just said we just were able to take care of it we you know they she saw the doctor at the San Diego Zoo this doctor was able to work with humans and she was fine she got a stuffed animal they all came back daddy did you win and I told them I I couldn't explain runner-up to him so yeah I won and then anyway it was a lot of fun but my point of this is I think if you have someone that you know that is one of the best pharmacists that you know whether it's their new practitioner or I mean I mean just look at the award categories so next generation pharmacists is the highest award so of the awardees this person would would get it civic lore there that our civic leader an entrepreneur I think you have their own a pharmacy to get that one future pharmacists so it could be a Student Health System pharmacists lifetime leadership patient care provider rising stars so last five years specialty pharmacist technician and then what I got was the technology innovator award for 2017 so highly recommend the next generation pharmacist awards and nominate yourself if you think that you've done something in that you know go ahead and nominate yourself it could happen going to the blog's TLDR pharmacy came out with a new FDA approval and Troy Garza is AI balises I Bala's room AB I bow as you mad which is for HIV but it is the very first monoclonal antibody for HIV so it's been about 10 years since anything news come out and terms of mechanism of action so that's exciting news and as usual TL DRS posts are just and and that's the things it's it's really an entertaining way to read new information that comes out I'm gonna be like many of you guys I'll be doing some of my CES a little bit later in the year like within the month of when they're due and that is painful but this it's I always love reading his blogs so that was the TLDR pharmacy happy farm d talks about linked in and how you know we have a like I have 5,000 LinkedIn connections and it's true I would know like a hundred or 200 of them on site and that's just kind of how this works but every once in a while I run into someone and strike up a conversation on LinkedIn and it's also an easy way to kind of communicate with some people if you're not doing Facebook message if you're not Facebook friends you can be LinkedIn associates I guess I don't know what they are they LinkedIn friends and so I think LinkedIn can be a great way especially if you're you're somebody that's looking for a job and and maybe that's why I don't get as much out of LinkedIn because I'm looking for a job one of the pharmacy Times contributors was really fun I Matt Petter Eenie non-traditional pharmacist part of the pharmacy podcast network - but he interviewed Danielle Brill who's vice-president of equity research at Needham & Company and the wolf of Wall pharmacy Wall Street is the title and it was just kind of cool to hear a pharmacist on Wall Street so if you're the kind of person that watches like those kinds of movies Wall Street the Big Short the wolf of Wall Street you know I think you'll really enjoy that but that one kind of popped out at me and then going from aggressive investing to more conservative investing the year financial pharmacist team had should I pay off my house early or invest and I wanted to make sure that I talked about that real quick so it's the the satisfaction that someone would have would be immense if you know you paid off your house but you know I was thinking about this and talking to my tenants yesterday and and we were talking about LLC's and things like that and making sure you protect your house and and when you're renting to somebody or you're renting to people you really want to make sure you have all the protections in place and if something happens you know that you have the insurance that you need and you know saying well should I just pay it off and then you know buy another house but really that doesn't really make a ton of sense you would really you know buy another house and just continue to maybe pay down aggressively but what they were talking about was it was a mathematical calculation saying I believe I'm gonna get 7% returns on my investments in the future how does that match mathematically to me paying off what the current interest rate is and my kind of thought on it is if I did pay it off pay off the mortgage on the rental property and I could probably do it in a year then what what would happen so I would be without my cash reserve I if I went to the bank and asked for a mortgage or a loan the cheapest loan I could get would be the mortgage on a rental property so I would just be doing the same thing over again as far as our personal home I think we're gonna have to look at taxes next year kind of see how things played out with this new tax code where there's a bigger deductible or something like that and not deductible I'm to pharmacy doubt there's a bigger I don't remember that what the word is standard deduction there's a bigger standard deduction though I think we'll still be in the position where we benefit because we're not really in a high high income place so I think there's a limit of $10,000 that you can deduct and no we just don't have that expensive a houseboat and then we're worse in such a we only owe 50% you know like our loan to value ratios like 50 so there's just not a lot of money that we're paying each month for mortgage but I would definitely recommend that show should I pay off my house early or invest and do be careful though because that's a false dichotomy the person asks that question so they answer that question so I'm not criticizing the guys at yfb I'm just saying that those aren't your only two options your other option is to create what I would call like a capital account which is basically just saying I'm just gonna create this account and I'm going to keep finding opportunities and if you do watch the Big Short you look at you know kind of what Michael burry was doing in that movie he was just saying okay well I pick stocks and I do a good job with that but there's this opportunity here because the markets gonna collapse and housing where I can short it and I can make a ton of money and very high returns on investment and that's what's available so you know I don't know if I necessarily wanted a rental home but I found one that I knew that I would would get a good return on the initial investment because I knew I was getting it for less than the value I knew that I could put some money into it and it would increase the value and I knew that it would rent because of the square footage so having that large capital account allows you to find investments that maybe a little bit more non-traditional and that are paying much higher rates of return so my rate of return you know when I'm looking at an investment I'm looking for rates of return of fifty to a hundred percent if I'm gonna even mess with it especially with something like a book like I'll put in you know five thousand so the cost of this last book that I made was around I don't know yeah I don't want to say put about five thousand all in so I'm expecting at least that much back in addition to my my original so and I did the same thing with the real estate when I became a real estate agent I put five thousand into coaching and I said hey you know what at the end of this year I just want to know that my real estate business then that I've created after expenses has doubled my money I put in five thousand to work with you I want ten thousand back at the end of the year so my money back plus five grand and that that's kind of how I look at things and then you know do I use conservative investments yeah I mean I still have a rental home that's being paid off and I pay off a little bit ahead of time so I kind of balanced them but really my goal is is get skim I don't want to say Buffett because that's in the billions but you know like we'll call it mini Buffett it's just just a small account that I want to keep growing it's kind of an investment account that's more fun with something that I control know and know a lot about which would be audiobooks especially in nonfiction technical books talk to your pharmacist podcasts so building your pharmacy consulting business with Blair Tila Myer she's always really great in terms of will her story if he'd not hurt it I definitely listen definitely listen to it she you know it's pregnant at the time she lost her pharmacy job and this was a long time ago well not terribly long ago but she loved she was pregnant when she lost her pharmacy job and you know necessity the mother of invention and she created her own company and now she works I was able to work from home and I think she does it a couple days a week so she has plenty of time to spend with a family pharmacy Joe calm again these guys pharmacy Joe is always like way over my head in terms of the critical care stuff he does but always refer him if you are critically care minded or if you were interested in that to really start understanding the ways that you would answer those residency interview questions or the way that you talk with other practitioners in at a very very high level new podcast well relatively new I think he started in February but I wanted to wait till he got a couple of episodes going so med ed one-on-ones Eric Christensen has real life pharmacology and every week he's going over a different drug class drug state another episode just went out yesterday the 5 alpha reductase inhibitors and he talks for he he goes about the length of pharmacy Joe's about seven minutes he's been going anywhere from seven minutes to 14 minutes depending and stuff to talk about antipsychotics in less than 15 minutes but these are really fantastic in terms of getting an idea of in clinical practice so I learned this in school what actually happens in practice and he's been a longtime clinical practitioner and I trust his pharmacology advice so that's the real pharmacology podcast helix Talk episode 78 transitioning from school to practice advice for new practitioners yeah I don't know when you hear three academics talking about retail it's it's kind of like I don't know it was I think they they did a good job trying to kind of make some points about the things that you want to keep up with in terms of you know your your knowledge base and some good tips about that but they were talking about things that in retail are absolutely brutal which are the weekends that you know retail pharmacists have to work especially if you're every other nights and weekends and then that appease are kind of a fiction and that you work this 8:00 to 4:00 or 9:00 to 5:00 and no weekends and that's just not how it is in the real practice so I know it was it was worth to listen but it was just kind of like when you when you hear three people with nine-to-five jobs talking about people that don't have nine-to-five jobs it was just a little bit of a disconnect there but I always like helix talk it's always an interesting conversation to listen to Richard's monumental podcast interview on building brand so dr. Richard weaith down in Florida he spends I think about forty five minutes talking about how about his brand and how that kind of came to be but also how he got a lot of exposure for a linked in something he wrote on LinkedIn and then he's also on medium which is another kind of blog so he's very altruistic always giving away a lot of good content so I recommend rx radio as well let's seek or consult rx so I don't think he has anything necessarily new but I really like the way he goes through the cases and really if you're a preceptor it's kind of a this is how I would go through such and such case and so forth so I don't know I'm just a big fan of core consult as well I think I freak got to do the mother ship report so let me make sure I get that because I think what it happened was I clicked from Hillary was on the pharmacy podcast network and then I I always talk about her blog so but Monday on the mother ship was expanding your compounding business and this was actually very very good in terms of hearing what it is you can add if you own a pharmacy in terms of those things that have very little to do with the drugs that were dispensing but other things been and I only connected with it really well because I was talking to the e-myth author who talked about how an optometric soar as an optometrist there are a lot of health things especially in terms of taking care of your eyes and the right antioxidants and vitamins and things like that that need to come along with it so a really good episode their income the outcomes show they talked about--we points in a way point is when you I want to actually find the definition because they talked about it as you get off course and then you come back so a waypoint is actually an end of a leg of a course especially one especially one whose coordinates have been generated by a computer huh so basically they were saying like a waypoint it would be graduation or a waypoint would be marriage or something like that and that you need to kind of re-evaluate every time you know you have a waypoint or something like that but that was probably the best income outcome shows I'd listen to I really really enjoyed it and then Hillary Blackburn is the guest on PGX for pharmacists and I think that you'll really enjoy that episode as well all right so just a couple of youtubers so muda verma he was nice enough to come on the pharmacy leaders podcast and he talked about traveling the world during pharmacy school and he has certainly done that and he's on with Kevin Yi on Kevin Yi pharmacy on YouTube and then Brian Fung a day in the life of an informatics pharmacist so I went a little bit long but have a good holiday weekend as always if you have a show that you want to hear let me know or a topic you want to hear and then if you want to put together an interview and you want to publish it if you're a micro preneur you know you're making under a hundred thousand a year or something like that I'm happy to help you promote whatever it is that you're working on whether it's a book or a course or something like that just let me know you can always contact me on facebook messenger or on LinkedIn whichever so happy Memorial Day weekend I will talk to you guys next week support for this episode comes from the audiobook memorizing pharmacology a relaxed approach with over 9000 sales in the United States United Kingdom and Australia it's the go-to resource to ease the pharmacology challenge available on audible iTunes and amazon.com in print ebook and audiobook thank you for listening to the pharmacy leaders podcast with your host Tony Guerra be sure to share the show with a hashtag hash pharmacy leaders [Music] ","author_name":"Pharmacy Residency Podcast","author_url":"http:\/\/pharmacy.libsyn.com\/","html":"