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IL license defense lawyerAudits to your pharmacy can be made by insurance companies, pharmacy benefit managers and third-party payers. Many pharmacy owners view audits as a threat to their business and with good reason.

The outcome of an audit can mean that a pharmacy is required to pay large sums of money that the auditing agency says it is owed. This could be taken out of what would be payments from future money that would be paid to the pharmacy.

Audits should be taken seriously, and often an attorney can safeguard a pharmacy’s rights as well as negotiate issues that may come up in the course of an audit.

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IL pharmacy lawyerBeing a pharmacy owner can be a rewarding and profitable career. However, all careers must come to an end, and at some point, you will likely wish to sell your pharmacy. Pharmacy owners decide to sell for many reasons. The technology is ever-changing, and margins seem to become thinner with each year. However, the most common reason for the sale of a pharmacy is that the owner seeks to retire.

It is estimated that two-thirds of pharmacy owners are at or nearing retirement age. In the coming years, many pharmacies will experience a change in ownership. If you are looking to sell your pharmacy, there are a host of steps you can take to ease the process and to get top dollar for your business.

The selling process -- planning and executing the sale -- can take two to three years. In fact, many of the most successful sellers begin planning the sale when the pharmacy is bought. However, if you have a shorter timeline, many successful sales are prepared for in less time.

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IL licensing attorneyIf you have received notice of an upcoming pharmacy benefit managers (PBM) audit, there are several things you can do to prepare. The consequences of a PBM audit are real and can be long-lasting. Going into an audit prepared is advisable.

Many clients find that adequate preparation can alleviate problems that can come up during an audit. A skilled PBM audit defense attorney can identify specific areas that you should focus on in the time before your pharmacy’s audit. However, typically you will benefit from taking the following steps:

  • Review the written on-site audit notification. You want to pay close attention to the scope of the audit, including the date ranges that the audit will cover. The terms of the audit as stated in the letter should comply with your contract and will applicable laws. An attorney may be needed to determine compliance.
  • Check the date of the proposed audit. This date should be a date when you and other needed personnel will be present. An audit should not be left to employees to handle.
  • Create an audit file. This file or box should contain all correspondence, records, notes, and documentation of telephone calls related to the audit.
  • Meet with your staff. Your staff should be prepared for the audit as well.
  • Organize your records and conduct a self-audit. You should review what records you have as well as identify any problem areas that the PBM auditor may spot.
  • Prepare a designated physical area for the audit. This area should be private. It should also be away from your employees’ spaces and pharmacy operations. Often a closed-off breakroom with a table and chair is suitable.

Contact an Illinois PBM Audit Attorney

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Illinois State Bar Association DuPage County Bar Association Illinois Pharmacists Association American Pharmacists Association 10.0Joseph John Bogdan
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