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What are the start up cost of a compounding pharmacy

Resolved Question:

What are the start up cost of a compounding pharmacy
Submitted: 1 year ago.
Category: General
Expert:  pharmacydoc replied 1 year ago.

Depends on many factors. To list just a few: if you are not a licensed pharmacist, you will need to hire one; will you receive or pay for the pharmacist to revive training through the Pharmacy Compounding Accreditation Board (PCAB); and the cost will vary depending on where you practice, how much you advertise. At one time, PCAB use to provide a packet for interested parties. I would recommend you consult their website. There is also a fees and costs section posted on their website with a sliding annual scale based on prescription volume.

Expert:  pharmacydoc replied 1 year ago.
Their website is www.pcab.org
Expert:  pharmacydoc replied 1 year ago.
*receive
Customer: replied 1 year ago.

I have been in business all my life and i understand all the various factors that can contribute to start up cost of a business. My question is; putting aside a location and employees what are the average start up cost for a compounding pharmacy, Inventory and equipment and annual salary for a pharmacist?

Expert:  pharmacydoc replied 1 year ago.
I see you have provided a poor rating. I am sorry the question was not answered to your satisfaction. In all honesty, there are simply too many factors involved to give you a specific expected setup cost (e.g. will you own or rent the building, square footage, area, etc.). I ask you reconsider the poor rating you provided. The link to the website provided DOES provide a cost based for being recognized as an accredited compounding facility based on prescription volume and, as a licensed pharmacy is subject to applicable state laws and fees which vary from state to state.
Customer: replied 1 year ago.

OK lets start with inventory, how much of an investment is needed to stock a compound pharmacy??

Expert:  Josie-Mod replied 1 year ago.
Hi, I’m a Moderator for this topic. It seems the Professional has left this conversation. This happens occasionally, and it's usually because the Professional thinks that someone else might be a better match for your question. I've been working hard to find a new Professional to assist you right away, but sometimes finding the right Professional can take a little longer than expected.

I wonder whether you're OK with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you. Thank you!
Customer: replied 1 year ago.

Thank you for assisting in answering my question. I am in the process of starting a compounding pharmacy and i wanted to know the basics star up cos, please give me some points of reference.


 


Frank

Expert:  Josie-Mod replied 1 year ago.

Thank you for your continued patience. We will continue the search for a Professional for you.

Expert:  Michael replied 1 year ago.
While receiving some very good information earlier, let me offer to you some additional numbers for you to use in your research on looking at starting a compounding pharmacy.

1. Here is information from Live Oak Bank which lends to those in this industry. They put together a breakdown of costs of starting out new vs. purchasing an existing pharmacy:

http://www.liveoakbank.com/wp-content/uploads/2012/02/Start-up-or-Acquire1.pdf

2. You might also wish to review the buyers resource page given by the NCPA (National Community Pharmacists Association): http://www.ncpanet.org/index.php/buyers
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