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Understanding Business Models in Pharmacy Schools.

David A Holdford¹

¹Virginia Commonwealth University School of Pharmacy, Richmond, Virginia.

American Journal of Pharmaceutical Education

|July 20, 2017

Summary

This article defines business models and contrasts those used in pharmacy schools. It also explores potential issues stemming from misunderstandings about pharmacy school services and beneficiaries.

Area of Science:

Pharmacy education
Higher education administration
Business strategy

Background:

Pharmacy schools operate with distinct business models that influence their educational and research missions.
Understanding these models is crucial for navigating the complex landscape of academic pharmacy.
Previous analyses have not sufficiently contrasted the specific business models employed by pharmacy schools.

Purpose of the Study:

To define the concept of business models in an academic context.
To compare and contrast the prevalent business models within pharmacy education.
To identify and discuss challenges arising from misinterpretations of pharmacy schools' service scope and delivery.

Main Methods:

Conceptual analysis of business model frameworks.

Keywords:

business model education graduate pharmacy research

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Comparative review of operational and financial structures in pharmacy schools.

Qualitative discussion of stakeholder interactions and service provision.

Main Results:

Pharmacy school business models vary significantly, impacting resource allocation and strategic direction.
Common models include those focused on tuition, research grants, clinical services, and philanthropy.
Misunderstandings regarding target audiences (students, practitioners, public) and service offerings (education, research, patient care) can create operational friction.

Conclusions:

A clear understanding of pharmacy school business models is essential for effective strategic planning and stakeholder alignment.
Addressing misconceptions about service provision and beneficiaries can mitigate operational challenges and enhance institutional effectiveness.
Further research into the financial sustainability and impact of different business models in pharmacy education is warranted.