MCQ Quiz: Innovation & Entrepreneurship

In the evolving landscape of healthcare, innovation and entrepreneurship are becoming essential attributes for the modern pharmacist. This goes beyond the traditional idea of business ownership; it represents a mindset focused on identifying problems, developing creative solutions, and implementing new value-based services to improve patient care and advance the profession. As highlighted in the Personal and Professional Development curriculum, student pharmacists are challenged to cultivate an innovative mindset and apply entrepreneurial thinking to overcome barriers in practice. This quiz will test your understanding of the core concepts of pharmacy innovation, from generating ideas and conducting risk-benefit analyses to developing and presenting proposals that can shape the future of healthcare.

1. As defined in the PPD 5 & 6 syllabi, an “innovative mindset” in pharmacy primarily focuses on:

• a) Strictly following all existing pharmacy protocols without deviation.
• b) Developing new ideas and approaches to improve quality or overcome barriers to advance the profession.
• c) The singular goal of opening an independent pharmacy.
• d) Memorizing drug information more efficiently.

Answer: b) Developing new ideas and approaches to improve quality or overcome barriers to advance the profession.

2. An entrepreneurial pharmacist sees a high rate of hospital readmissions for heart failure patients at their clinic. What is their likely first step?

• a) Accept that readmissions are unavoidable.
• b) Identify this as a problem and begin brainstorming potential pharmacist-led interventions.
• c) Complain to management about the hospital’s discharge process.
• d) Switch all patients to less effective medications to save money.

Answer: b) Identify this as a problem and begin brainstorming potential pharmacist-led interventions.

3. According to the PPD 6 course objectives, what type of analysis is essential before implementing an innovative new service?

• a) A financial analysis of the pharmacy’s stock performance.
• b) A risk-benefit analysis of the proposed idea.
• c) A survey of pharmacist job satisfaction.
• d) A review of historical prescribing patterns.

Answer: b) A risk-benefit analysis of the proposed idea.

4. “Value-based improvements,” a concept central to the PPD curriculum on innovation, aim to benefit which of the following?

• a) Patient care
• b) Healthcare costs
• c) Pharmacy practice
• d) All of the above

Answer: d) All of the above

5. The PPD 6 syllabus includes a team project where students present an innovative idea. This suggests that a key entrepreneurial skill is:

• a) Working in complete isolation.
• b) The ability to effectively communicate a new idea and its value to others.
• c) Following directions without asking questions.
• d) The ability to perform complex financial accounting.

Answer: b) The ability to effectively communicate a new idea and its value to others.

6. A pharmacist wants to start a new medication synchronization service to improve adherence. An example of a “risk” to consider in a risk-benefit analysis would be:

• a) Improved patient outcomes.
• b) Increased staff workload and potential for workflow disruption.
• c) Higher patient satisfaction.
• d) Better pharmacy quality scores.

Answer: b) Increased staff workload and potential for workflow disruption.

7. An example of a “benefit” for the medication synchronization service in the previous question would be:

• a) The initial cost of training staff.
• b) Potential for errors during the initial rollout.
• c) Improved medication adherence and patient retention.
• d) The time it takes to implement the new workflow.

Answer: c) Improved medication adherence and patient retention.

8. The Personal and Professional Development (PPD) course series lists “Innovation and Entrepreneurship” as a core:

• a) Elective course option.
• b) Topic for the final exam only.
• c) Pharmacist attribute to be developed throughout the curriculum.
• d) Skill needed only for independent pharmacy owners.

Answer: c) Pharmacist attribute to be developed throughout the curriculum.

9. A pharmacist notices that many patients are confused about how to use their new inhalers. An innovative approach to solve this problem could be:

• a) Telling patients to read the package insert.
• b) Creating a QR code link on the prescription label that leads to a demonstration video.
• c) Assuming patients will figure it out on their own.
• d) Refusing to counsel patients on inhalers.

Answer: b) Creating a QR code link on the prescription label that leads to a demonstration video.

10. “Entrepreneurial thinking” in an established health system or chain pharmacy is often referred to as:

• a) Insubordination
• b) Intrapreneurship
• c) Inefficiency
• d) Indifference

Answer: b) Intrapreneurship

11. The PPD 6 syllabus lists a TED Talk by Joi Ito titled “Want to innovate? Become a ‘now-ist’.” This likely encourages students to:

• a) Focus only on historical case studies.
• b) Wait for perfect conditions before starting a new project.
• c) Be nimble, creative, and adaptive in the present moment.
• d) Plan extensively for decades in the future.

Answer: c) Be nimble, creative, and adaptive in the present moment.

12. A key characteristic of an entrepreneurial pharmacist is the ability to:

• a) See problems not as insurmountable obstacles, but as opportunities for improvement.
• b) Avoid any and all risks.
• c) Maintain the status quo at all costs.
• d) Work only on tasks assigned by a supervisor.

Answer: a) See problems not as insurmountable obstacles, but as opportunities for improvement.

13. Before proposing a new clinical service, a pharmacist should first:

• a) Purchase all the necessary equipment.
• b) Hire new staff.
• c) Identify a clear need within their patient population.
• d) Assume the service will be profitable.

Answer: c) Identify a clear need within their patient population.

14. Which of the following represents an innovation in pharmacy practice?

• a) Implementing a pharmacist-led diabetes management program under a CPA.
• b) Developing a new workflow using technology to reduce dispensing errors.
• c) Creating a mobile app to help patients track their medications.
• d) All of the above.

Answer: d) All of the above.

15. A barrier to implementing an innovative idea in a large organization is often:

• a) Having too much financial support.
• b) A culture that is resistant to change.
• c) A lack of problems to solve.
• d) Staff being underworked.

Answer: b) A culture that is resistant to change.

16. To overcome resistance to a new idea, an entrepreneurial pharmacist should:

• a) Demand that everyone accept the change immediately.
• b) Present a clear case for the new idea, supported by data and a strong value proposition.
• c) Implement the change without informing anyone.
• d) Give up if they encounter any opposition.

Answer: b) Present a clear case for the new idea, supported by data and a strong value proposition.

17. The PPD 6 “Innovative Idea” assignment requires students to first submit a description of the “problem” their group will be addressing. This emphasizes that:

• a) The solution is more important than the problem.
• b) A successful innovation must solve a real, well-defined problem.
• c) All problems have already been solved.
• d) Students should invent a problem.

Answer: b) A successful innovation must solve a real, well-defined problem.

18. What is a “value proposition” in the context of proposing a new pharmacy service?

• a) A statement that explains only the cost of the service.
• a) A clear and concise statement that explains the benefits the service provides to patients and the healthcare system.
• c) The legal contract for the service.
• d) A list of all potential side effects.

Answer: a) A clear and concise statement that explains the benefits the service provides to patients and the healthcare system.

19. The PPD curriculum links innovation to improving quality. This means new services should ideally be:

• a) Unproven and experimental.
• b) The most expensive option available.
• c) Measurable and lead to better patient outcomes.
• d) Difficult for patients to access.

Answer: c) Measurable and lead to better patient outcomes.

20. The TED talk “Where good ideas come from” by Steven Johnson, included in the PPD 5 syllabus, likely suggests that innovative ideas often arise from:

• a) A single “eureka” moment.
• b) Working in complete isolation.
• c) The slow collision and connection of smaller ideas and hunches over time.
• d) Following a strict, predefined formula.

Answer: c) The slow collision and connection of smaller ideas and hunches over time.

21. A pharmacist decides to start a pharmacogenomics consulting service. This is an example of:

• a) A traditional dispensing function.
• b) An entrepreneurial venture to create a new revenue stream and advance practice.
• c) A required function in all pharmacies.
• d) A low-risk, low-effort activity.

Answer: b) An entrepreneurial venture to create a new revenue stream and advance practice.

22. When evaluating the “benefits” of a new clinical service, which of the following should be considered?

• a) Improved clinical outcomes (e.g., lower A1c).
• b) Increased patient satisfaction.
• c) Potential for new revenue or cost savings.
• d) All of the above.

Answer: d) All of the above.

23. The PPD curriculum’s emphasis on both innovation and interprofessionalism suggests that the best ideas often come from:

• a) Pharmacists working alone.
• b) Collaborating with patients, nurses, physicians, and other stakeholders.
• c) Reading old textbooks.
• d) Corporate mandates.

Answer: b) Collaborating with patients, nurses, physicians, and other stakeholders.

24. A key trait for an entrepreneur or intrapreneur is:

• a) The fear of failure.
• b) Resilience and the ability to learn from setbacks.
• c) A rigid and inflexible mindset.
• d) The tendency to avoid challenges.

Answer: b) Resilience and the ability to learn from setbacks.

25. A pharmacist wants to propose a new transitions of care service. The first step in a risk-benefit analysis is to:

• a) Create a marketing plan.
• b) Clearly identify all potential risks (e.g., cost, staffing) and all potential benefits (e.g., reduced readmissions).
• c) Hire a consultant.
• d) Purchase new software.

Answer: b) Clearly identify all potential risks (e.g., cost, staffing) and all potential benefits (e.g., reduced readmissions).

26. Why is it important for an innovative pharmacist to stay current with healthcare policy and regulations?

• a) It is not important.
• b) Changes in policy can create new opportunities for pharmacist-led services (e.g., test and treat authority).
• c) Regulations prevent all forms of innovation.
• d) To argue with legislators.

Answer: b) Changes in policy can create new opportunities for pharmacist-led services (e.g., test and treat authority).

27. The development of single-tablet regimens for HIV is an example of what type of innovation?

• a) Process innovation
• b) Service innovation
• c) Product innovation
• d) Marketing innovation

Answer: c) Product innovation

28. A pharmacy implementing a new robotic dispensing system to free up pharmacist time for clinical services is an example of:

• a) Product innovation
• b) Service innovation
• c) Process innovation
• d) A step backwards for the profession.

Answer: c) Process innovation

29. The “entrepreneurial thinking” described in the PPD courses applies to:

• a) Only independent pharmacy owners.
• b) Only pharmacists working in industry.
• c) Pharmacists in all practice settings, including hospitals, clinics, and community pharmacies.
• d) Only students who plan to get an MBA.

Answer: c) Pharmacists in all practice settings, including hospitals, clinics, and community pharmacies.

30. A “pitch” for an innovative idea to pharmacy leadership should be:

• a) Long, detailed, and highly technical.
• b) Vague and non-specific.
• c) Concise, compelling, and focused on the value proposition.
• d) Presented without any supporting data.

Answer: c) Concise, compelling, and focused on the value proposition.

31. The ability to “pivot” or change direction when a new idea is not working as planned is a key characteristic of:

• a) A rigid manager.
• b) A successful entrepreneur.
• c) A disinterested employee.
• d) A failed project.

Answer: b) A successful entrepreneur.

32. The PPD syllabi include TED talks that challenge conventional thinking. This is intended to encourage students to:

• a) Distrust all authority.
• b) Question the status quo and think creatively about problems.
• c) Focus on memorization over critical thinking.
• d) Adhere to tradition.

Answer: b) Question the status quo and think creatively about problems.

33. An important skill for an innovative pharmacist is “systems thinking,” which is:

• a) The ability to see how different parts of the healthcare system are interconnected.
• b) The ability to follow a checklist.
• c) The ability to work only within one’s own department.
• d) The ability to ignore how one’s actions affect others.

Answer: a) The ability to see how different parts of the healthcare system are interconnected.

34. The “pain point” that an innovative service aims to solve refers to:

• a) A literal source of physical pain.
• b) A significant problem, frustration, or inefficiency experienced by patients or the healthcare system.
• c) A minor inconvenience.
• d) A regulatory requirement.

Answer: b) A significant problem, frustration, or inefficiency experienced by patients or the healthcare system.

35. A pharmacist develops a partnership with a local cardiology group to manage their patients on DOACs. This is an example of:

• a) An innovative service model.
• b) A standard dispensing function.
• c) A conflict of interest.
• d) An unnecessary service.

Answer: a) An innovative service model.

36. The entrepreneurial mindset requires a high tolerance for:

• a) Certainty and predictability.
• b) Ambiguity and uncertainty.
• c) Apathy and inaction.
• d) Stagnation.

Answer: b) Ambiguity and uncertainty.

37. When presenting a new idea, it’s important to understand the perspective and priorities of your audience (e.g., hospital administration). This demonstrates:

• a) Deception
• b) Empathy and effective communication.
• c) A lack of confidence in your own idea.
• d) Inefficiency.

Answer: b) Empathy and effective communication.

38. The ultimate measure of a successful pharmacy innovation is its:

• a) Complexity.
• b) Cost.
• c) Positive impact on patient care and/or system efficiency.
• d) The number of slides in the presentation about it.

Answer: c) Positive impact on patient care and/or system efficiency.

39. A pharmacist uses data from the pharmacy dispensing system to identify patients with poor adherence to their diabetes medications. This first step is an example of:

• a) Overstepping boundaries.
• b) A violation of patient privacy.
• c) Using available resources to identify a problem or opportunity.
• d) A waste of time.

Answer: c) Using available resources to identify a problem or opportunity.

40. The concept of a “lean startup” in entrepreneurship, which involves creating a minimum viable product (MVP) to test ideas quickly, can be applied in pharmacy by:

• a) Launching a full-scale, expensive service without any prior testing.
• b) Starting with a small pilot program to test a new service with a limited number of patients.
• c) Spending years in the planning phase without ever implementing.
• d) Avoiding all new services.

Answer: b) Starting with a small pilot program to test a new service with a limited number of patients.

41. The PPD curriculum’s focus on innovation is a response to:

• a) The unchanging and stable nature of the US healthcare system.
• b) The need for pharmacists to adapt and create value in a rapidly changing healthcare environment.
• c) A surplus of pharmacy jobs.
• d) A decrease in the number of new drugs being developed.

Answer: b) The need for pharmacists to adapt and create value in a rapidly changing healthcare environment.

42. Which question helps define the “benefit” portion of a risk-benefit analysis for a new clinical service?

• a) “How much will this cost?”
• b) “What could go wrong during implementation?”
• c) “How will this improve patient outcomes or lower overall healthcare costs?”
• d) “How much extra work will this be for the staff?”

Answer: c) “How will this improve patient outcomes or lower overall healthcare costs?”

43. A pharmacist who is afraid to propose a new idea for fear of being told “no” is lacking which entrepreneurial trait?

• a) Clinical knowledge
• b) Initiative and willingness to take calculated risks.
• c) A pharmacy license.
• d) A good work ethic.

Answer: b) Initiative and willingness to take calculated risks.

44. The team-based approach to the “Innovative Idea” project in PPD 6 suggests that:

• a) Innovation is best done by individuals.
• b) Diverse perspectives and collaboration can lead to better, more well-rounded ideas.
• c) Teams are inefficient.
• d) Only the team leader’s idea should be considered.

Answer: b) Diverse perspectives and collaboration can lead to better, more well-rounded ideas.

45. An intrapreneurial pharmacist might improve a hospital’s transitions of care process by:

• a) Complaining about the current process to their colleagues.
• b) Ignoring the process entirely.
• c) Designing and piloting a pharmacist-led discharge counseling and follow-up call service.
• d) Transferring to a different department.

Answer: c) Designing and piloting a pharmacist-led discharge counseling and follow-up call service.

46. A “SWOT” analysis is a common business planning tool. What does it stand for?

• a) Service, Workflow, Opportunity, Time
• b) Strengths, Weaknesses, Opportunities, Threats
• c) Staff, Workload, Overhead, Technology
• d) System, Willingness, Outcomes, Teamwork

Answer: b) Strengths, Weaknesses, Opportunities, Threats

47. To be successful, an innovation must be:

• a) A completely new invention never seen before.
• b) A significant improvement or a new application of an existing idea.
• c) Implemented by a physician.
• d) Approved by the FDA.

Answer: b) A significant improvement or a new application of an existing idea.

48. The most valuable asset for a pharmacist with an entrepreneurial mindset is:

• a) A large inheritance.
• b) Their clinical knowledge combined with creativity and problem-solving skills.
• c) An easy work schedule.
• d) A close relationship with their supervisor.

Answer: b) Their clinical knowledge combined with creativity and problem-solving skills.

49. A pharmacist notices that their pharmacy throws away a significant number of reconstituted antibiotics that are never picked up. An innovative solution might be to:

• a) Continue the practice as it is part of the cost of doing business.
• b) Implement a system to call and confirm with patients before reconstituting expensive medications.
• c) Yell at patients who do not pick up their prescriptions.
• d) Stop stocking antibiotics altogether.

Answer: b) Implement a system to call and confirm with patients before reconstituting expensive medications.

50. The PPD curriculum teaches innovation and entrepreneurship to empower future pharmacists to:

• a) Accept the limitations of their current roles.
• b) Become agents of change who actively shape the future of their profession.
• c) Focus only on tasks that are directly reimbursed.
• d) Avoid interacting with other healthcare professionals.

Answer: b) Become agents of change who actively shape the future of their profession.