Doctor M
I am opening a compounding only pharmacy that is not going to accept insurance. I am sure Dr. M knows this but for the rest of you, audits on compounded medications is terrible! Even if you bill everything correctly and do everything according to law, Medo shows up one day and simply says, "We overpaid you for all these compounds, we are taking back 40K." I know its rediculous and I don't know how they get away with it, but they do. That is why you do not accept isurance and you give pt's claim reimbursement forms that they submit to the isurance.
Doctor M, are you going to take insurance on these compounds? If so, have you found a way not to get audited? If you are not taking insurance, are you sure there aren't any stipulations in your contracts at your regular pharmacy that say, "You will not associate with a pharmacy that does not take insurance."? I hear that Medco often does this.
Lastly, I'm sure you know this, but do not prostitute yourself out. Make sure you get paid a fair amount. Compounding is very time consuming and that must be considered when figuring a price. I don't know the demographics of your area, but you need to have a minimum price of at least 25-35 dollars.
Post your response on here or private message me, the pharmacy I'm involved with is very successful and we can share some ideas.