While California amended its regulations on pharmacy closure earlier this year, many pharmacy owners are still confused regarding the requirements when they are selling files, filing for bankruptcy, or simply closing their doors. So what does California require?
Patient notices:
If the pharmacy closes (sells its files or goes out of business), it must
Many pharmacy owners wonder if contracting with Medicare directly (as a Durable Medical Equipment, Prosthetics, Orthotics, and Supplies (“DMEPOS”) provider) adds value to a pharmacy business. The answer depends on whether the sale of the pharmacy is structured as an asset or a stock purchase.
Asset purchase
To become a DMEPOS provider under Medicare Part
Many independent pharmacies across the nation find themselves forced to shut their doors because of low reimbursements and DIR fees, aggressive PBM practices, and increased investigations and fines by state and federal agencies. In addition, pharmacies must comply with an ever-increasing number of regulations and many small pharmacies are not in position to follow and
When a pharmacy owner decides to sell, often the sale is conducted in a rush with minimum thinking and negotiations. I strongly recommend my clients to slow things down (unless we have a pending Board of Pharmacy matter demanding an urgent sale), reflect on the offer, and engage a