What is Pharmacy Transfer Consulting?
PRS’s Transfer Consulting handles every aspect of transferring ownership. Our services benefit both the buyer and seller of a Pharmacy and may include the following:
- Assists with Pharmacy Licensing procedures.
- Provides specific directions and guidance to help coordinate the Pharmacy acquisition.
- We help to maintain Pharmacy compliance with state, federal and other rules and regulations during the transfer phase.
- PRS is available to advise and consult with legal counsel on Pharmacy-specific items to ensure a smooth and efficient ownership transfer.
I am so glad that I contacted PRS when it came time to transition our pharmacy from one generation to the next. PRS provided me with a specific plan so that our 111-year-old pharmacy will remain in our family with no disruption to service. There are many regulatory procedures that need to be navigated when it comes to working with boards of pharmacy, the DEA, and other agencies. And, then there are the PBM’s and their arcane policies and strict requirements. PRS researched everything based upon the specific state in which we are licensed. They provided us with an easy to follow virtual road map. I recommend them to everyone.
Can a Pharmacist transfer ownership on their own?
Definitely! But is it worth the risk? Simple mistakes can cost tens of thousands of dollars and delay opening by months! For something you are likely to do only once in your lifetime, it’s best to let an expert handle everything to make the transfer as smooth as possible. We have facilitated HUNDREDS of transfers in the more than 36 years we have been in business. As a result of our unmatched experience, PRS is the exclusive NCPA endorsed broker.
Here Are Some Of The Details We Handle During A Pharmacy Transfer:
- We Ensure the Continuation of Existing State and Federal Licenses and Permits
- Prevent Interruption of Third-Party Insurance Agreements
- Guidance and paperwork to allow 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
- Comprehensive Overview of the Seller’s Business Operation, Allowing the Buyer to Move Forward in Confidence
- Power of Attorney Agreements Regarding Controlled Substances
- Compliance and Regulatory Program Evaluation
- Purchase Agreement Consultation (non-legal)
- Assist with the prep of the asset or stock purchase agreement
- PRS will engage in discussions with attorneys regarding specific aspects of transferring a Pharmacy
- Sample wording for these Pharmacy-specific items can be provided to your attorney
What is Pharmacy Valuation?
What the Pharmacy is actually worth is one of the most important things to consider when you are buying or selling a Pharmacy.
The following points are some things you need to know:
- The value of a business is tied to the expectation of future earnings and cash flow.
- A financial model rewards owners for the historical cash flows they have built and shows a potential buyer the proven gross revenue potential.
- 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.
- For instance, a financial model focused on EBITDA and NOI with a multiplier most fairly values the business.
Our Pharmacy Valuation will ensure both the BUYER and the SELLER are getting a fair, unbiased review of the Pharmacy’s performance.
How Can PRS Help With Pharmacy Licensing?
PRS can help you with all areas of licensing.
Our experienced advisers will walk you through the steps, including, but not limited to:
- Assisting with Interpretation and Conforming to State Board of Pharmacy Rules and Regulations
- Securing state Pharmacy License
- Preparing for State Inspections when it is Required
- Directing procurement of Mandatory Pharmacy Equipment, Fixtures and Supplies
- Meeting Federal and D.E.A. Licensing Requirements and secure D.E.A. Registration Permit(s)
- NCPDP & NPI Application Processes
Why Should I Use PRS?
Our experienced Pharmacy acquisition staff will provide the information, services and support necessary to plan and execute the transfer. Crossing every t and dotting every i, ensuring you have an error-free transfer. Above all, PRS is the only broker endorsed by NCPA so you can feel confident that your transfer will be handled by the name brand in Pharmacy Consulting & Brokerage Services.
What if I’m not sure I need this service?
We understand you may not know if you need help, however, whether you’re thinking about buying or selling you should call PRS for expert advice. EVERY situation is unique and our experts are ready to give you the answers you’re looking for. Contact us today to discuss your options.
I NEED HELP TRANSFERRING A PHARMACY