Pharmacies and pharmacy benefit managers have had a business relationship with each other since the 1960s. Today, PBMs function as intermediaries between insurers, drug manufacturers, and pharmacies. Because they do so much within the industry, it is logical for them to charge fees for revenue. These include GER and DIR fees, which affect pharmacies in […]
The Drug Enforcement Administration (DEA) is helping to fight the opioid crisis by revoking controlled substance registrations from pharmacies, pharmacists, and prescribers under 21 U.S.C. § 824. The DEA revived this practice in 2018. It allows them to prevent suspect pharmacists, pharmacies, and prescribers from dispensing or prescribing federally controlled substances. In order to avoid […]
Pharmacies and other healthcare institutions that can legally dispense medication are vital within the industry. Regulations created by the DEA are meant to protect the security of controlled substances as well as patients. These are not all of the regulations, but some of the main laws. You may be wondering why they are relevant if […]
If you want to acquire a pharmacy, you can either purchase the assets of the business or the stock of the corporation. The following can help you understand stock acquisition and the steps you can take to purchase the stock of a pharmacy. Purchasing a pharmacy through stock acquisition In a stock purchase, the buyer […]
Pharmacies are a big part of the healthcare industry, but they can be difficult to establish. First, you must purchase property, arrange deals with manufacturers and wholesalers, set-up a compliance policy, train personnel, and obtain the proper licenses. You may consider purchasing the ownership interests in a pharmacy that is already established. Alternatively, you may […]
Selling a pharmacy is a complex venture that requires several factors to be completed before a deal is officially made. It is best to enlist the aid of an attorney so the sale can move smoothly. A sale of this nature may require a significant amount of time to complete. You should build a solid […]
Choosing to sell your pharmacy is an important decision. Your business is the culmination of years of work and sacrifice. It is an understandably difficult choice to make, but one that all business owners will likely face. Whether you are selling because you received an offer you cannot refuse or you are moving on to […]
