Being PIC at someone else'e pharmacy!???

Started by maxim82
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maxim82

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Hello everyone,

I am a registered pharmacist in CA and currently working for a chain pharmacy. Recently, I was offered partnership to open up an independent pharmacy with me being the PIC. the owner wanted to pay a monthly fee for my license and will give me hours to work there as part-timer as well and I don't have to quit my current job . I was wondering if anyone has done this before- meaning giving your license for a pharmacy that you mainly won't be there every day. How much would be a fair fee if I decided to do so and what are the pros and cons??
 
maxim82 said:
Hello everyone,

I am a registered pharmacist in CA and currently working for a chain pharmacy. Recently, I was offered partnership to open up an independent pharmacy with me being the PIC. the owner wanted to pay a monthly fee for my license and will give me hours to work there as part-timer as well and I don't have to quit my current job . I was wondering if anyone has done this before- meaning giving your license for a pharmacy that you mainly won't be there every day. How much would be a fair fee if I decided to do so and what are the pros and cons??
Click to expand...
Conflict of interest. Ask your boss first. They will fire you if they find out,
you probably will need to quit your job.
 
Momus said:
Conflict of interest. Ask your boss first. They will fire you if they find out,
you probably will need to quit your job.
Click to expand...


I was actually planning not to tell them. since in CA you can be PIC in 2 pharmacies within 50 miles radius in case the want to put me at a store as PIC.
 
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maxim82 said:
I was actually planning not to tell them. since in CA you can be PIC in 2 pharmacies within 50 miles radius in case the want to put me at a store as PIC.
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Doesn't matter, direct competitor = conflict of interest. Your chain has a policy on conflict of interest. Read up on it. Being a PIC is a huge responsibility, if the other rph doing shady business you will get burned alive by the DEA, state Board, and insurance companies. Trust me, independent does a LOT of shady businesses.
 
Momus said:
Doesn't matter, direct competitor = conflict of interest. Your chain has a policy on conflict of interest. Read up on it. Being a PIC is a huge responsibility, if the other rph doing shady business you will get burned alive by the DEA, state Board, and insurance companies. Trust me, independent does a LOT of shady businesses.
Click to expand...

Thanks for the input. Not being able to supervise the other Rph is my main concern, too.
 
Momus said:
Conflict of interest. Ask your boss first. They will fire you if they find out,
you probably will need to quit your job.
Click to expand...
I thought non-compete requirements were not enforceable in CA. Right?
 
Being a PIC is a strict liability kind of thing. If your staff pharmacist is an idiot, you are held accountable. If your techs steal controls, you are held accountable.
 
Rouelle said:
I can think of very few things that would be worse than being PIC at a pharmacy I didn't own. Only things like being a victim of a chainsaw murderer and such come to mind.
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None of the PICs at the retail chains own their pharmacy either. What's the difference?
 
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PharmD500 said:
None of the PICs at the retail chains own their pharmacy either. What's the difference?
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Because those PICs actually work at those pharmacies and it is much less likely that the owner is planing to set them up to take the fall?

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Screw conflict of interest. That is the last thing you should worry about.

Go read the BOP regs on PIC responsibilities and then read all the disciplinary actions against the PICs in CA.

This no brainer. CA PIC is the worst pharmacist job in Pharmacy.

You're welcome.
 
My Thoughts.

1. Depending if your primary work is in retail you may be infringing on the non-compete aspect of your contract you signed on hire. You can work Retail and hospital but can't work retail and retail or hospital and hospital. Be careful with your primary employer.
2. Most likely the person who wants you to work to be the PIC is trying to cover his own ass and not necessarily trying to set you up as the fall guy of some scheme. To my knowledge there is a law on the books that requires all pharmacies to have a PIC or they will face a heavy fine. If I remember correctly a few CVS's in Florida got massively fined because they did not have a PIC. Usually in the situation where there is no PIC, the staff pharmacist has to fill out the paperwork to become the PIC temporarily. In case there is no staff pharmacist or the staff pharmacist refuses, the pharmacy supervisor or district supervisor as long as they are a pharmacist will step in as the PIC. I think the requirement for being the PIC is 8 hours per week.

Questions you should ask the person requesting you to be PIC.
1. Is he a pharmacist?
2. If he is a pharmacist why isn't he the pharmacist in charge since he will be at the pharmacy more often?
3. What is the revenue split or dividend split?
4. Will he be making sure the pharmacy is board compliant?
5. If the pharmacy is fined for not being board compliant who's portion of money will this come from?
6. Is the business an LLC, S-Corp, or C-Corp
7. If its an S-Corp or C-Corp, how many shares do you own and how many were issued upon business conception?

I think what we have all missed is that you are not just becoming a PIC, but a business owner as well. As a business owner you are set to an even higher standard. If you are a 50/50 business owner and PIC, the Board of Pharmacy will most likely be coming after you and not your partner if there is an issue. Do your research and make sure you are protected from all worse case scenerio's, if your partner is having trouble coming up with answers to your questions or that you are facing the majority of the liability in case things go wrong, run don't walk away from this deal.
 
Well the question is how much is your license worth? It is possible that the owner is already a PIC at another location and simply needs someone else.

But these days 'businessmen' are opening pharmacies and looking to rent out PIC licenses. At that point, I wouldn't do it.
 
Rule #1 for PIC's, never be a PIC at a story you don't personally work at. Unless you are planning to spend a good portion of your free time there checking up on all the stuff that you will be legally responsible for.

Think about it, is there a legitimate reason why the pharmacist working there now won't be PIC? Now think if you really want to be responsible for this guy's actions.
 
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