HIPAA Compliance can take time and money, but a breach will cost you even more money through governmental fines and in repairing the reputation and trust you may have lost with your patients and community. In some cases, you may
Finding the value of a pharmacy is not like appraising any other business. Pharmacy businesses are unique, as are the processes and formulas by which they are appraised. Only experienced pharmacy valuation professionals should be determining what your life’s work
The goal of any pharmacy owner come tax time is to get their net income as low as possible to save on payments to Uncle Sam. Things listed as tax write offs are normal and every business does this including
Opening your first pharmacy can be an exciting, scary, and beyond stressful endeavor. Naturally, fear of failure, which means potentially losing hundreds of thousands of dollars, would give anyone pause. No big deal, right? It’s only money. [Insert sarcastic laugh
Should I Sell My Pharmacy to a Chain? So, CVS offered to buy your pharmacy. It looks like a great deal on the surface, but chains have gotten wise about structuring contracts that give the best return on investment…to them.
Let’s talk about starting a CLIA-Waived Point of Care Testing Program in a Pharmacy setting to diversify your services and bring additional revenue as third parties continually lower reimbursements and we see continual DIR creep. In most cases, your POCT
So you want to own an independent retail pharmacy but you’re not certain where to begin? Owning an independent retail pharmacy is not like owning just any business, there are many factors to weigh and consider that make owning a
Attention CLIA Certified Pharmacies: Over ten thousand Pharmacies have a CLIA Certificate of Waiver. Most of these Pharmacies have been providing CLIA waived testing as a cash service only, increasing revenue and helping to offset dropping reimbursements and DIRS. But
We wanted to write a short blog post today to cover the HIPAA and the CARES Act. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law by President Trump on 3/27/2020. In this law, you
