Physicians Opening Pharmacies – Doctor Office Pharmacy Start-up

Many doctor’s have been establishing pharmacies inside of their practices and it is a trend that is on the rise. Although how many doctors nationwide actually dispense medications from their office is not known, the practice is on the rise. As more consumers seem to favor one-stop shopping with their retail choices, some doctors’ offices are starting to adopt the same trend by establishing pharmacies inside their own practices.

Although laws vary in many states, a physician can operate a pharmacy in their office and dispense medications for the convenience of their patients and to make a profit as a revenue stream for their business. However, there are many rules and regulations that must be followed. Although some rules are obviously open to interpretation, the following set of guidelines are worth noting:

– The recipient of the medication must be a patient of the doctor or physician writing the prescription.
– Proper record keeping is mandatory and required.
– The physician is required to give the patient a written prescription and the option to fill that prescription at a pharmacy of the patient’s choice.
– The doctor must provide patient counseling on the proper usage of the medication (either verbally or in writing).

If you are a physician considering dispensing from your office, then you may want to also consider the following questions:

– Can my PA or ARNP do the dispensing for me?
– Does my malpractice insurance cover my dispensing activities?
– Can I select a formulary that meets my patients’ needs and my inventory capacity? Must I keep a large inventory?
– How can I evaluate “turn-key” or “mail-order” dispensing programs? What are the “pros and cons” of such programs?

The bottom line is that dispensing Physicians must comply with Pharmacy/Pharmacist laws established in their state. Healthcare Consultants has been in the business of setting up pharmacies for over 25 years. Experts at the requirements and guidelines for establishing in-house pharmacies for physicians nationwide, HCC can perform all of the following for you:

– Creation and review of a business plan
– Design recommendations
– Obtaining financing
– Assistance and guidance in the application process
– Provide a list of equipment and supplies (both for the Board of Pharmacy inspection and the actual pharmacy operations)
– Make arrangements for the final inspection of the facility (including a mock-inspection)
– Suggestions for vendors
– Provide legal support
– Provide staffing

If you are a physician considering building, purchasing or expanding an existing pharmacy operation, we strongly urge you to get in touch with us today for a free consultation. We offer you the support of an experienced staff who have been through the process many times and know the business inside and out! Call us today at 800-642-1652 at for a free consultation.

 

Bob Miller
3/29/2015

 


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