Up to date information in the field of Independent Pharmacy written by the PRS Pharmacy Consulting Experts and Pharmacists for Pharmacy Owners. Experience Matters.
HIPAA Is Not Just About Training
PRS still receives many questions from non HIPAATrack Members about whether written (or electronic) Policies and Procedures are required for their Pharmacy business. These questions have typically come from Pharmacies that have purchased a Training Program or Continuing Education, or they may have received a “free” “HIPAA Program” from their wholesaler or other entity. These Training Programs, CEs and “free” Programs typically do not include actual Policies and Procedures to implement by the Pharmacy, making them effectively useless as far
Red Flags and Controlled Drugs
The vast majority of Pharmacies are dispensing controlled substances in compliance with the DEA and State Regulations. However, we regularly hear about a Pharmacy, prescriber, wholesaler, or manufacturer in the news breaking those regulations and trying to circumvent public safety for profit. Now that the COVID-19 pandemic is winding down [fingers crossed], we are once again starting to see a focus on the public health emergency of drug addiction and abuse. Here at PRS, we get questions from Pharmacy Owners
The POCT Opportunity in Pharmacy
Another winter is quickly approaching, and Pharmacies have the opportunity to help their communities by becoming credentialed to provide CLIA-waived testing. As we already know, Pharmacies are the most accessible health care providers, with some patients already coming to us several times a month for prescriptions, over-the-counter medication, and vaccination needs. The next step is to provide point of care testing (POCT), whether for Flu and Strep or an entire testing suite. With that in mind and holidays approaching, this
Things to Think About When It Comes to Protecting Your Pharmacy Infrastructure
You cannot go more than a day or two without hearing about another cyber attack in the United States. More importantly for pharmacy owners, Health Care has become a frequent target for phishing and ransomware attacks. These can devastate an organization, so protecting your pharmacy infrastructure is critical, but have you ever stopped to think about what that protection encompasses? In this blog, we want to cover some essential areas that need to be addressed to ensure your compliance with
Pharmacies and Medicare Part B
Pharmacies need to be looking at some of their options for becoming a Medicare Part B Provider/Supplier as a large part of the United States population are becoming Medicare Beneficiaries. This blog will discuss four practice areas payable by Medicare Part B that Pharmacies need to consider to diversify and increase profits. These areas are: Drugs and Biologics (Application: CMS-855S or PECOS) DMEPOS (Application: CMS-855S or PECOS) Immunization (Application: CMS-855B or PECOS) Point of Care Testing (Application: CMS-855B or PECOS)
Ten Steps to Selling a Pharmacy
Here are the ten basic steps in the selling process and the estimated completion time and documents needed for each step. Step 1: Pharmacy Valuation Process Accurately determine the value of the pharmacy. A valuation is just another word for appraisal. Documents: Two to three years of accurate financial statements, which are then recast, or normalized, to remove the expenses a new owner will not have. Two to three years of tax returns Recent inventory Estimated value of equipment, fixtures
HIPAA Access to Records
In this blog, we will discuss one of the “rights” that HIPAA gives individuals concerning their medical records. HIPAA provides the individual with the right to access their records in a “timely” fashion. While not the most cumbersome act in many Pharmacies, the request from patients to access their records is something Pharmacies must respond to in a quick and timely fashion. The Officer of Civil Rights (OCR), the agency responsible for the enforcement of HIPAA, believes that a Patient