Introducing a new member benefit from IACP and Britton Gallagher: RiskAlert-RxSM. It's a comprehensive risk exposure and insurance policy gap analysis service specially designed to assist IACP member owners better understand their risks of loss, how their current insurance program addresses exposures, and provides step-by-step solutions to address any deficiencies with their current insurance program. Best of all, the initial risk analysis is absolutely free to IACP members.
"I am truly amazed at how many significant limitations exist in the insurance programs for specialty and compounding pharmacies," said Bruce Ball, Britton Gallagher's CEO. "Owners and senior management incorrectly assume they are covered and do not know these gaps in coverage exist. When presented with the results of the RiskAlert-Rx
SM audit, one owner of a 503A pharmacy stated they wanted us to find a new insurance company NOW, and not wait until their renewal because the shortfalls were so significant. We are bringing this auditing service to the industry to raise awareness of these underlying issues and assist owners in solving these significant problems."
The new service is offered free of charge to IACP members, with no requirement that the pharmacies create a business relationship with Britton Gallagher. Britton Gallagher is an insurance brokerage firm, not an insurance company, which means they will provide a non-biased, non-conflicted review of the company's policy.
"This new RiskAlert-Rx
SM program is another step towards protecting our compounding members' businesses and patients. Ensuring you have the correct coverage for your practice is one of the most important steps you can take as a compounding pharmacist and business owner."