What is Pharmacy Transfer Consulting?
Our Pharmacy Transfer Consulting handles every aspect of transferring your Pharmacy’s Ownership. We have facilitated HUNDREDS of Pharmacy Transfers in the more than 38 years we have been in business.
Because of our unmatched experience and excellent reputation, PRS is the exclusive Pharmacy Ownership and Broker Consultant endorsed by the National Community Pharmacists Association (NCPA), the Federation of Pharmacy Networks (FPN) and dozens of Pharmacy Buying Groups representing over 15,000 independent Pharmacies.
Whether you are the buyer or the seller, PRS’ Pharmacy Transfer Consulting Services can help you every step of the way!
Here are just a few of the many details we handle during a Pharmacy Transfer:
- Layout a plan and timeline that provides specific directions and guidance to help coordinate the Pharmacy acquisition in a seamless and timely manner.
- Assist with State and Federal Pharmacy Licensing procedures by ensuring the continuation of existing state and federal licenses and permits and/or assisting with obtaining new ones, if applicable, depending on state regulations and structure of sale (asset or stock purchase).
- Help to Maintain Pharmacy Compliance with state, federal and other rules and regulations during the transfer phase.
- Prevent Interruption of Third-Party Insurance and PBM Contracts
- Guidance and paperwork to allow new owner utilization of the current owner’s third party contracts
- Agreement for the forwarding of insurance reimbursements to the buyer while using the seller’s contracts
- Power of Attorney Agreements Regarding Controlled Substances
- Compliance and Regulatory Program Evaluation (i.e. HIPAA, FWA, Exclusion, etc.)
- Purchase Agreement Consultation (non-legal)
Assist with the prep of Pharmacy-specific items in the asset or stock purchase agreement.
- PRS is available to advise and consult with legal counsel on Pharmacy-specific items to ensure a smooth and efficient ownership transfer.
- Sample wording for these Pharmacy-specific items can be provided to your attorney
- Purchase Agreement Consultation (non-legal)
Can you transfer Pharmacy Ownership on your own?
Yes, but is it worth the risk? Simple mistakes can cost you tens of thousands of dollars and delay the Pharmacy Transfer by months! Things like losing insurance billing privileges for a period of time or a license expiring, to a poorly written purchase agreement, etc. can cost you time and money.
Most likely, you have never directed and/or planned a Pharmacy Transfer or maybe it has been many years since you did. Do you really have the time to research state and federal licensing, insurance contracting, legal considerations, etc. and be certain you did not miss any details? It is simply not worth the risk to try to do this on your own.
Let our Pharmacy Transfer experts handle everything to make your Pharmacy Transfer as smooth and stress free as possible!
Our experienced Pharmacy Acquisition Staff will provide the information, services and support necessary to plan and execute your Pharmacy Transfer, crossing every “t” and dotting every “i” to ensure you have a smooth and error-free transfer.
We understand you may not know if you need help, however; whether you are thinking about Buying, Selling or Transferring a Pharmacy you should call our experts for advice. Consultations are Free and Confidential and there is NEVER any pressure or obligation.
We know EVERY situation is unique and we are ready to give you the answers you need.
Contact us today to discuss your options. We are looking forward to your call!
Need a Pharmacy Valuation Prior to Transfer?
What the Pharmacy is actually worth is one of the most important things to consider when you are buying, selling, or transferring a Pharmacy.
The following points are some things you need to know about Pharmacy Appraisals:
- The value of a business is tied to the expectation of future earnings and cash flow therefore, it is important to know what the Pharmacy is actually worth.
- A financial model rewards owners for the historical cash flows they have built and shows a potential buyer the proven gross revenue potential of the Pharmacy.
- For instance, a financial model focused on EBITDA and NOI with a multiplier most fairly values the business.
- Banks use a financial model focused on cash flow when considering a loan request from a buyer, therefore having the correct data is crucial.
- Many Independent Pharmacies have diversified revenue streams and earnings need to be valued, not simply on revenue and prescription counts but on other factors as well.
- Our Pharmacy Valuation will ensure both the BUYER and the SELLER are getting a fair, unbiased review of the Pharmacy’s performance.
Visit our Pharmacy Valuation page for more details.