October 2013



Phone (908) 782-4426 - info@veterinarybusinessadvisors.com

The FAQs on Compounding


Compounding can be generally defined as the manipulation of a drug, beyond its originally labeled form, to meet the needs of a particular patient. Compounding can be legally performed by a veterinarian or by a pharmacist upon receipt of a veterinarian's prescription for a particular patient. Compounding can include the modification of an approved drug or the synthesis of drugs from bulk products (raw ingredients). The latter is admissible under 'limited implied permission' and is only legal when specific criteria are met. In practice, compounding is undertaken in a variety of different ways, some legal and some not


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Internet Pharmacies: A Written Script - Strategies for Success



The regulatory & consumer landscape in which these issues are playing out is highly dynamic. Keep up-to-date on industry/consumer trends and legislative developments so you won't be blind-sided by changes that might impact the bottom line & way of practicing veterinary medicine. Stay informed on regulatory changes and state laws to make sure you know your obligations to the consumer. When in doubt, look it up. Don't find yourself on the wrong side of a new regulation or law simply because you didn't know about it. Just like prepping a patient for surgery, make sure you gather as much information as possible so that you can accurately assess the risks and be prepared for a worst case scenario. The more informed you are, the more power you have to sidestep obstacles and take control of the outcome.


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Has Your Manual Had A Wellness Review?


Is it ok to have "cookie cutter" employment policies that don't necessarily fit your practice? What's wrong with just borrowing someone else's employee handbook and distributing it to your staff as your own? Why should you spend the money to customize your policies? If you're a small practice, do you really need a Handbook? How often should you review your policies to make sure they are legally compliant?


These are all good questions that practice owners and managers must ask themselves as they assess the effectiveness of their employee handbooks. Employee policies should be clear, concise, and reflect how you want to treat your employees. Some policies are essential and should be included in every practice's Handbook. For instance, an Equal Employment Opportunity policy that prohibits harassment and discrimination will help assure your staff that these unlawful activities will not be tolerated while also providing an affirmative defense against complaints from disgruntled employees. However, many practices unnecessarily include policies they don't need just because they saw them in someone else's handbook. For instance, including information about the Family Medical Leave Act (FMLA) may not be necessary if your practice doesn't have enough employees for the Act to be applicable. However, once you include it in your Handbook, it becomes your policy.


Is it better to have some policies than not to have any at all? Well, that depends. Poorly crafted employment policies, or policies that don't reflect what you do in your particular practice, can actually do much more harm than good. Whether your practice employs 3 or 300, it's a good idea to review your policies annually to make sure they accurately reflect the uniqueness of your practice. If you don't have a handbook yet, what are you waiting for?



In This Issue
The FAQs on Compounding
Internet Pharmacies: Strategies for Success
Employee Manual Wellness
Welcome Alex!
Welcome VBA Extern Alex Radebaugh



Alex Radebaugh is currently a fourth year veterinary student at the University of Pennsylvania. She has been an active board member of Penn's Veterinary Business Management Association (VBMA) for the past two years. She is interested in learning more about the business and legal side of veterinary medicine such as practice management, contracts, and malpractice. Upon graduation she hopes to work in a small animal general practice or emergency clinic. Ultimately one day, Alex hopes to own a small animal practice. In her free time, she enjoys outdoor activities including running, hiking and skiing.


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