ADAPTING TO CHANGE in the Pharmacy World

BY RON DEVERS, CIC, CPIA, director of operations, PSI Insurance Agency

Greek philosopher Heraclitus of Ephesus said “the only constant in life is change.” Yet when change happens, we are often surprised. Many people are resistant to change, but not all change is bad. Think about changes in society, technology, communications and how most changes are very positive and help us to be more effective and efficient. I think most readers of the Michigan Pharmacist would agree that change is constant in the pharmacy world as well.

Individually, it is considered good practice to obtain an individual professional liability policy to protect your personal assets in the event litigation is brought against you. The coverage is quite affordable, usually around $150 annually for pharmacists and $99 annually for technicians. You can add the Consulting Services Endorsement for $25 to cover non-medical activities.

Look at the changes in the pharmacy professional’s scope of practice. Look at the change in pharmacy technician responsibilities, especially as it relates to licensure and involvement in patient care. Who would have thought years ago that pharmacists could fill prescriptions via email, be allowed to administer vaccines, or prescribe birth control? Pharmacy professionals continue to prove that they are on the front line in taking care of patients and community health. From an insurance standpoint, these changes can present some challenges. As pharmacists and technicians get more added to their scope of practice, it can increase your liability exposure. The first concern is protecting your practice and making sure that your insurance program covers things like immunizations and compounding. Generally speaking, as long as you operate within the scope of your license and are doing things as outlined by Michigan law, your practice is protected.

Increasingly, healthcare professionals are participating in educational and consulting activities in addition to direct patient care. These activities carry unique legal risks that can be covered under your professional liability policy by adding the Consulting Services Endorsement. Non-medical activities include:

• Medical administration

• Training

• Legal consultation

• Speaking at seminars

• Teaching or acting as an expert witness

• Rendering advice in your area of specialization Call PSI Insurance Agency if you’d like to discuss this important matter further. It’s our business to protect your business.