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Third-Party Contracts
Building positive relationships with third-party organizations.
If you are purchasing an existing pharmacy, have your attorney evaluate all existing leases and contracts for your right to assume the contracts, take on the liability, the term of the leases, and so on. Some leases, contracts, or other legal agreements that may be in place include:
- Building/store lease
- In-store vending machines, such as copiers or film processing kiosks
- Collection service contracts, such as water, utility, or phone
- Business or franchise contracts with third parties, such as Radio Shack, UPS, or the United States Post Office
- Building and/or parking lot maintenance contracts
- Drop-ship vendors for front-end products
- Direct accounts with suppliers of gifts, cards, and so on
- Pharmacy automation equipment
- Pharmacy services, such as compounding
Our Ownership Consultant can work with you to help establish contracts with third-party payors through organizations such as AccessHealth.
The RxOwnership Ownership Consultant can also suggest the best ways to perform a detailed analysis of your current contracts, while helping to ensure that contracts are in place that protect the interests of your business. For example, they can help advise you on the most efficient ways of setting up electronic funds transfer, reconciliation assistance, and problem resolution with PBMs. Contact us at least eight weeks prior to opening the pharmacy to allow sufficient time for contracts to be in place.
Visit the NCPA Ownership Academy or McKesson’s AccessHealth division to learn even more about third-party contracts.
How you set up your pharmacy — both in front of the counter and behind it — is an important aspect of creating the pharmacy business that works best for you (and your customers).