10 Important Pharmacy Reporting Requirements

Pharmacies registered with the New York State Board of Pharmacy (Board) have a duty to report certain changes in their business operations. We briefly discuss these requirements below.

1. Renovations

Registered pharmacies that plan to renovate must submit their proposed renovation plans to the Board prior to making any changes.

2. Temporary Closings

If a registered pharmacy needs to temporary close its operations, the Board must be notified prior to the scheduled closing and then again before the scheduled reopening.

3. Natural Disasters

Registered pharmacies that have been damaged by fire, flood or other disaster are required to contact the Board within 48 hours of the event.

4. Sale of the Business

Since the Board will issue a new registration upon a transfer of ownership of a registered pharmacy, the Board recommends that the new owners apply for a new registration approximately six weeks prior to the date of transfer. As with all new registrations, the Board will conduct an inspection before it registers the pharmacy.

5. Change in Corporate Officer/Principal Stockholder

If a registered pharmacy experiences a change in officers or principal stockholders, defined by the Board as a holder of 10% or more of the stock of the corporation, it must report this event to the Board within 30 days of the change.

6. Supervision Change

Any changes to the supervisor of a registered pharmacy must be reported to the Board within 7 days of the event.

7. Relocation

If a registered pharmacy plans to change its location, it must notify the Board at least 30 days prior to the expected date of relocation. Expect an inspection from the Board prior to the relocation.

8. Name changes

Any changes to either the corporate name or the assumed name must be reported to the Board prior to the use of the new name.

9. Drug Auctions

The Board must be notified at least 7 days before drugs are sold at an auction. Expect a Board inspector to attend the drug auction.

10. Closing Shop

Before a registered pharmacy discontinues its operation, it must make arrangements for its inventory and records. The Board has established a process for the discontinuance of operation of a registered pharmacy which must be followed before the doors are closed.

If the registered pharmacy is also enrolled with Medicare and/or Medicaid, it is also important to follow each program’s reporting requirements.

If you have any questions concerning pharmacy registrations, Medicare and Medicaid enrollment, revalidation or exclusion, or have other legal questions, please contact us here.