By: Jeffrey S. Baird, Esq. A common question asked by pharmacies is whether they can subsidize a physician’s expenses. Examples include: May a pharmacy pay a physician’s out-of-pocket expenses to attend a continuing education conference? May a pharmacy purchase equipment (such as iPads) for the physician’s employees to use at the physician’s office? To answer […]
By: Jeffrey S. Baird, Esq. A pharmacy lives in the proverbial “glass house.” It is subject to scrutiny by the State Board of Pharmacy (“Board”), DEA, FDA, and PBMs and other third party payors. At the end of the day, the Board is the most important agency in the pharmacy’s life. Without a license, the […]
By: Jeffrey S. Baird, Esq. In the real world, it is common for a business to outsource marketing to a marketing company. Unfortunately, what works in the real world often does not work in the pharmacy universe. An example of this has to do with marketing companies. If a marketing company generates patients for a […]
By: Jeffrey S. Baird, Esq. With 78 million Baby Boomers retiring at the rate of 10,000 per day, and with the life expectancy of Boomers continuing to increase, the demand for pharmacy services will continue to increase exponentially. As they meet this demand, pharmacies are nevertheless facing a “Perfect Storm” of challenges. These include (i) […]
By: Jeffrey S. Baird, Esq. One way for a pharmacy to grow is to enter into relationships with physicians, hospitals, and other referral sources. In doing so, it is critical that the pharmacy comply with federal and state anti-fraud laws. Legal Guidelines For Pharmacy Referral Networks The federal anti-kickback statute (“AKS”) prohibits a pharmacy from […]
By: Jeffrey S. Baird, Esq. The Federal Anti-Kickback Statute (“AKS”) prohibits knowingly and willingly offering, paying, soliciting, or receiving, directly or indirectly, anything of value if the purpose is to induce the recipient to refer, order, recommend, or purchase an item or service for which payment may be made under a federal health program…or to […]
Jeffrey S. Baird, Esq. Generally, there are two ways to purchase a pharmacy: an asset purchase or a stock purchase. Stock purchase of a pharmacy Let’s talk about a stock purchase first. Assume that John Smith owns ABC Pharmacy, Inc. Assume that Bill Johnson wants to buy the stock, not the assets, of ABC. Smith, […]
