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 recommended 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 Service can help you every step of the way!
Here are just a few of the many details we handle during an Independent Pharmacy Transfer of Ownership:
- 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 it isn’t worth the risk or the time you’ll spend doing it. 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, 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/Transition as smooth and stress free as possible. Our service is affordable and you’ll have peace of mind knowing it will be done right!
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 a Pharmacy, Transferring a Pharmacy or Selling your 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.
Contact us today to discuss your options. We are looking forward to your call!
We Recommend a Pharmacy Valuation Prior to Transferring Your Pharmacy.
The value of the pharmacy you are transferring is one of the most important things to consider and keep in mind, the bank will want to know this information too.
The following points are 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 the actual value of the pharmacy.
- A good 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 pharmacy, that’s why it is important to have the valuation done by a company that specializes in pharmacy valuations and pharmacy business appraisals.
- Banks use a financial model focused on cash flow when considering a loan request from a pharmacy buyer, therefore having the correct financial data about the pharmacy being sold or transferred is crucial.
- Many Independent Pharmacies have diversified revenue streams and earnings need to be valued, not simply on revenue and prescription counts but on many other factors as well.
- A PRS Pharmacy Valuation will ensure both the BUYER and the SELLER are getting a fair, unbiased review of the pharmacy’s performance/value.
Click the link below to visit our Pharmacy Valuation Page and learn more about our pharmacy appraisal methods.
Frequently Asked Questions About Our Pharmacy Brokerage Services:
At PRS we pride ourselves on being a different kind of Pharmacy brokerage service. We are the only brokerage firm endorsed by NCPA. We cover everything from buying a Pharmacy, to selling an Independent Pharmacy, to transferring ownership of a pharmacy, opening a start-up Pharmacy and opening an International Pharmacy. We have programs for every situation and we are owned and operated by pharmacists who also own pharmacies so we understand what it takes to succeed and the challenges most owners or potential owners are facing in today’s competitive independent pharmacy market.
We PROMISE 100% confidentiality and will never share your information with anyone. You can view our signed Non-Disclosure Agreement (NDA) HERE.