Health care companies often find it challenging to stay ahead of the various trends across their sector. As both third-party entities and the federal government look at making changes that could impact the drug industry, there are some updates the pharmaceutical industry may want to focus their attention on.
Standards for new laws and policies
These are some changes to keep in mind:
- Changes in workplace safety standards: There may be new safety requirements for pharmacies that address how to protect health care workers, patients and the environment from hazardous substances. This is all due to growing evidence that exposure to hazardous drugs could give workers chronic health issues.
- Compliance with the DSCSA: The Drug Supply Chain Security Act was put in place so electronic systems could trace and monitor certain prescription drugs. Pharmacies may want to check that they’re complying with current regulations so they can remain transparent with their supply chains.
- Implementation of the Lowest Price Act: While it is expected to go into effect in early 2020, this new law could make it illegal for pharmacies to withhold information about price differences in copays, prescription drugs and coinsurance from Medicare and Medicare Advantage enrollees. If pharmacies don’t comply with the new rules, they could face penalties that could hurt their business.
- Updates to the Resource Conservation and Recovery Act: The EPA requires organizations to clarify their level of responsibility for putting dangerous and controlled substances in the waste stream. But next year, the requirements may change to align with DEA waste classification standards, which could lower disposal costs.
Keeping up with changes can be challenging
As 2020 is only a few months away, pharmacies in Arizona may want to reach out to an experienced and knowledgeable health law attorney. They can help address any concerns owners may have and make sure they have the right tools and strategies in place to comply with new federal policies.