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Compliance Blog - R.J. Hedges & Associates


5 Things to Consider Before Buying a Pharmacy

[fa icon="calendar'] Mon, Sep 16, 2019 / by Becky Templeton posted in Pharmacy

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The prospect of buying a pharmacy is enticing to pharmacists for a variety of reasons. The items at the top of the list are; freedom and responsibility of ownership, the chance to practice pharmacy on your own terms, do more to improve the health of your patients, and improve your earning potential.  These are all realistic goals when you have your own location, however, the process of purchasing can be complicated and lengthy regardless of how well prepared you are.

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How Will USP <800> Impact My Retail and LTC Pharmacy?

[fa icon="calendar'] Fri, Sep 13, 2019 / by Jeff Hedges posted in USP <800>

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A lot is happening in the pharmacy marketplace, including PBM reform and even massive layoffs. While a lot of this buzz might seem negative, there’s a feeling that positivity is on the way. Still, it’s crunch time for the pharmacy industry with USP <800> on the horizon.

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USP <800> It’s Not Just for Compounding Pharmacies

[fa icon="calendar'] Thu, Apr 18, 2019 / by Becky Templeton posted in USP <800>

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Are you starting to feel that the practice of pharmacy is like the Abbot and Costello sketch “Who’s on First”?  At every turn a new regulation is going into place; another merger of an insurer, chain, or healthcare system is occurring; some entity is auditing, inspecting, or reviewing your paperwork, files, and process; and someone new is dipping their hands into your pockets to take a little more of your reimbursements. Even with all those shenanigans going on, the biggest topic in pharmacy outside of DIR fees, is USP <800>. USP <800> Hazardous Drugs Compliance for Retail Pharmacies

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How to Open an Independent Pharmacy

[fa icon="calendar'] Fri, Apr 12, 2019 / by Becky Templeton posted in Independent Pharmacy

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Opening a successful independent pharmacy is a challenging undertaking for any pharmacist, especially with the competitiveness of today’s retail pharmacy market. Building a new pharmacy from the ground up doesn’t guarantee foot traffic, and leasing or owning a property doesn’t mean you’re ready to open for business.

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How to Value an Independent Pharmacy

[fa icon="calendar'] Tue, Feb 19, 2019 / by Becky Templeton posted in Pharmacy Brokerage

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Although a pharmacy’s true value is determined by what a buyer is willing to pay for it, there are a number of factors that go into a valuation. Beyond that, valuations happen for a variety of reasons, including retirement planning, expanding a current business, or adding a location. Less fortunate examples include dissolving partnerships, a buyout or dispute, and settlements of assets or estates. Or, in the case of purchasing a pharmacy, a valuation helps determine if the asking price has merit.

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HIPAA BAA - Why the Business Associate Agreement May be Your Pharmacy's Most Important Piece of Paper

[fa icon="calendar'] Tue, Feb 12, 2019 / by Becky Templeton posted in HIPAA, Business Associate Agreement

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A colleague recently shared a news release about a physicians’ group that was hit with a $500,000 fine. The fine wasn’t a result of fraud, a misfiled prescription, or malpractice, as one might expect.  Instead, the physicians’ group simply failed to have business associate agreements in place. 

This led me to wonder two things.  First, how common is it for people to go through eight or more years of school to become a doctor without fully understanding HIPAA? And second, if practitioners realize the importance of protecting patients, do they understand what they can put in place to protect themselves as the practitioner?

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Staying off the OIG Naughty List

[fa icon="calendar'] Wed, Dec 19, 2018 / by Becky Templeton posted in Inspections

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RJ_Hedges-Christmas_Comic_Strip-120718This time of year, children are compiling Christmas wish lists, trying their hardest to stay on Santa’s “Nice List” and possibly doing extra things to move off the “Naughty List.” We’ve had a lot of questions lately about another Naughty List out there, the OIG Exclusion List or List of Excluded Individuals & Entities (LEIE). Most people already know that if a person or entity commits Medicare fraud they will go on the exclusion list, but many pharmacy owners have been wondering, “What else might someone do to get on that list?” We’ve compiled a few ways to stay off the OIG Naughty List, aka the OIG Exclusion List.

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Podcast: Competitive Bid, What does that Mean to Me

[fa icon="calendar'] Wed, Dec 12, 2018 / by Becky Templeton posted in Pharmacy

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Did you hear that Competitive Bidding is being eliminated and everyone can start doing DME again?  While it’s not being totally eliminated, Competitive Bidding will be suspended nationwide from 1/1/2019-12/31-2020, while a new program is being prepared.  Many pharmacies will be able to start dispensing things previously deemed ineligible if the pharmacy was in one of those competitive bidding zones.
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Why Independent Pharmacies Should Have a Diabetic Shoe Program

[fa icon="calendar'] Tue, Dec 11, 2018 / by Becky Templeton posted in Diabetic Shoes

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Regardless of the ailment, independent pharmacies should always be asking the same question: How can we best serve the market and the patients who are suffering? When it comes to diabetes, there absolutely is a market for products and services. It’s estimated that more than 100 million adults in the United States have diabetes or prediabetes, and that estimate is getting larger by the year.

Diabetes is a chronic and prevalent medical illness that often leads to circulatory problems, stroke, heart disease, kidney disease, and even blindness. Filling prescriptions for diabetes medications is a start, but independent pharmacies should be doing more to serve the diabetes patient market. Pharmacies can provide education and resources to better help patients manage their disease and even protect them from related medical problems. However, independent pharmacies should also consider offering non-prescription diabetes products, like a diabetic shoe program.

A diabetic shoe program, when combined with other ancillary services, can directly impact margins for independent pharmacies. Improving your margins is still a product of the number of prescriptions filled, but aggressively marketing these additional services can attract and secure additional customers. Big box pharmacies typically don’t offer diabetic shoe programs, giving independent pharmacies an edge with this demographic. Expanding your pharmacy’s diabetic care services leads to healthier patients and better margins, so it’s a true win-win situation.

So, how does an independent pharmacy develop a diabetic shoe program? Let’s explore the subject.

 Boost Business to Your Facility with a Diabetic Shoe Program   * 1st- Complete our easy online questionnaire   * 2nd- Our team will review, customize, and create your program   * 3rd- You’ll be given access to your files via our Compliance Portal Start  Your Application Now

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Keeping in Compliance when Terminating Employees

[fa icon="calendar'] Tue, Dec 4, 2018 / by Becky Templeton posted in HIPAA

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We know that no employer likes to terminate an employee; from the business standpoint- there’s an open position that we must re-hire and re-train, it can be taxing on the rest of the staff and difficult for managers to try to work in interviews and screening processes into their already jam packed schedules.  And then there’s the additional emotional tie as well- these folks maybe leaving unexpectedly or under strained situations, and there’s personal friendships have been forged and they’re now kind of dicey, so it can be very difficult.
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