Calm The Pharm Podcast

In this episode of the Calm the Pharm podcast, host Sarah Stoddart delves into the changes regarding ministerial discretion for pharmacy business applications, emphasising the importance of understanding the application process and recent legislative updates.

Ministerial discretion allows pharmacy businesses to request approval to supply pharmaceutical benefits from specific premises, particularly when the Australian Community Pharmacy Authority (ACPA) has denied the application. Before submitting a ministerial discretion request, an applicant must first go through the ACPA process, which reviews the application against the pharmacy location rules.

Significant changes have recently streamlined the ministerial discretion process. Previously, applicants faced a lengthy six-month timeline, including a two-stage decision process with the Minister, but this has now been condensed into a single four-month decision period. This change reduces the total time from about nine or ten months to potentially eight months. Moreover, applicants are now restricted to submitting one request for ministerial discretion per 12-month period.

In summary, the podcast emphasises the necessity for pharmacy businesses to understand the intricate landscape of ministerial discretion. With recent changes shortening the decision timeline and limiting the frequency of requests, thorough preparation and strategic planning are more critical than ever for successful applications. Sarah encourages pharmacy owners to reach out for assistance when navigating these complex processes to improve their likelihood of obtaining approvals.

Calm The Pharm is brought to you by your host, Sarah Stoddart. Sarah is the founder and director of Vitality Law Australia, a boutique law firm which provides small business owners and healthcare professionals across Australia with clear legal pathways and peace of mind. She is recognised as a leader in the healthcare industry and is one of only a few lawyers in Australia with specialist experience working with pharmacy businesses. 

In 2021, Sarah was named the Lawyers Weekly Women in Law Australian Sole Practitioner of the Year. She was also named as a finalist in the AusMumpreneur Business Awards. In 2022, she was named as a finalist in the Women in Business Awards for The Hills and Districts Chamber of Commerce, the Australian Law Awards and again in the Women in Law Awards. Sarah is the co-author of business book, “Courage and Confidence”. The book is a collection of inspirational stories combined with practical tools, tips and advice written by a small group of Australian women in business.  She is also a non-executive director of MS Queensland.

www.vitalitylawaustralia.com

Instagram: @vitalitylawaustralia

Facebook: Vitality Law Australia

LinkedIn: https://www.linkedin.com/in/sarah-stoddart-23b92240/

In this episode of the Calm the Pharm podcast, hosted by Sarah Stoddart, the focus is on the critical aspects of expanding and contracting pharmacy premises, with a particular emphasis on the increasing trend of expansions in the pharmacy industry. With the movement towards a full scope of practice, many pharmacies are looking to increase their space to incorporate facilities such as consultation rooms, enhancing the services they can provide to the community.

A key point discussed in the episode is the necessity of lodging an application to the Department of Health and Aged Care under Rule 121 of the Pharmacy Location Rules whenever a pharmacy is expanding or contracting its premises. The podcast outlines several requirements under these rules. Additionally, the episode emphasises the importance of notifying state regulators about the expansion, as their requirements can differ significantly from one state to another.

Sarah urges pharmacy owners contemplating an expansion to seek legal advice and to ensure they submit the necessary application under Rule 121. The excitement of expanding should be balanced with compliance, as overlooking regulatory requirements can lead to significant setbacks down the line. The episode serves as a reminder to approach pharmacy expansions thoughtfully, prioritising legal advice alongside design and logistics.

Calm The Pharm is brought to you by your host, Sarah Stoddart. Sarah is the founder and director of Vitality Law Australia, a boutique law firm which provides small business owners and healthcare professionals across Australia with clear legal pathways and peace of mind. She is recognised as a leader in the healthcare industry and is one of only a few lawyers in Australia with specialist experience working with pharmacy businesses. 

In 2021, Sarah was named the Lawyers Weekly Women in Law Australian Sole Practitioner of the Year. She was also named as a finalist in the AusMumpreneur Business Awards. In 2022, she was named as a finalist in the Women in Business Awards for The Hills and Districts Chamber of Commerce, the Australian Law Awards and again in the Women in Law Awards. Sarah is the co-author of business book, “Courage and Confidence”. The book is a collection of inspirational stories combined with practical tools, tips and advice written by a small group of Australian women in business.  She is also a non-executive director of MS Queensland.

www.vitalitylawaustralia.com

Instagram: @vitalitylawaustralia

Facebook: Vitality Law Australia

LinkedIn: https://www.linkedin.com/in/sarah-stoddart-23b92240/

In this episode, host Sarah Stoddart continues her two-part series on Privacy Act obligations, focusing on practical steps that pharmacy owners can take to ensure compliance and mitigate risks. Building on the previously discussed legislation and pitfalls, Sarah introduces a five-step health check designed to help pharmacies manage their data collection and protection practices effectively.

Throughout the episode, Sarah addresses common myths regarding privacy compliance. She challenges assumptions, such as the belief that staff are automatically knowledgeable about regulations or that having a privacy policy is sufficient without regular reviews. She also stresses that compliance is not exclusive to larger pharmacies; all businesses must adhere to updated privacy legislation.

The episode concludes with a call to action: pharmacies must review their privacy policies, data collection practices, and how they handle patient information. Sarah reassures listeners that protecting patient data is not only a legal obligation but also essential for building trust and safeguarding their business’s reputation. Taking proactive steps now can significantly reduce risks associated with privacy breaches.

Calm The Pharm is brought to you by your host, Sarah Stoddart. Sarah is the founder and director of Vitality Law Australia, a boutique law firm which provides small business owners and healthcare professionals across Australia with clear legal pathways and peace of mind. She is recognised as a leader in the healthcare industry and is one of only a few lawyers in Australia with specialist experience working with pharmacy businesses. 

In 2021, Sarah was named the Lawyers Weekly Women in Law Australian Sole Practitioner of the Year. She was also named as a finalist in the AusMumpreneur Business Awards. In 2022, she was named as a finalist in the Women in Business Awards for The Hills and Districts Chamber of Commerce, the Australian Law Awards and again in the Women in Law Awards. Sarah is the co-author of business book, “Courage and Confidence”. The book is a collection of inspirational stories combined with practical tools, tips and advice written by a small group of Australian women in business.  She is also a non-executive director of MS Queensland.

www.vitalitylawaustralia.com

Instagram: @vitalitylawaustralia

Facebook: Vitality Law Australia

LinkedIn: https://www.linkedin.com/in/sarah-stoddart-23b92240/

Recent amendments to the Privacy Act require pharmacies to be more vigilant with patient data. Even a brief 10-second phone call, confirming Mrs Jones' date of birth or prescription details, can lead to a breach of privacy laws. In this episode, Sarah outlines the key changes to the legislation, which can be summarised into three categories: increased awareness and enforcement, tighter rules, and heightened risks.

The changes to the Privacy Act represent significant challenges but also present an opportunity for pharmacies to bolster their privacy practices. Taking steps now can help prevent costly penalties and maintain your pharmacy’s reputation.

As a first step, it’s essential to review and update your privacy policy. Also consider whether you've updated your practices since the introduction of new technologies, such as e-scripts, SMS reminders and artificial intelligence. After all, an outdated policy is as good as having no policy at all!

Calm The Pharm is brought to you by your host, Sarah Stoddart. Sarah is the founder and director of Vitality Law Australia, a boutique law firm which provides small business owners and healthcare professionals across Australia with clear legal pathways and peace of mind. She is recognised as a leader in the healthcare industry and is one of only a few lawyers in Australia with specialist experience working with pharmacy businesses. 

In 2021, Sarah was named the Lawyers Weekly Women in Law Australian Sole Practitioner of the Year. She was also named as a finalist in the AusMumpreneur Business Awards. In 2022, she was named as a finalist in the Women in Business Awards for The Hills and Districts Chamber of Commerce, the Australian Law Awards and again in the Women in Law Awards. Sarah is the co-author of business book, “Courage and Confidence”. The book is a collection of inspirational stories combined with practical tools, tips and advice written by a small group of Australian women in business.  She is also a non-executive director of MS Queensland.

www.vitalitylawaustralia.com

Instagram: @vitalitylawaustralia

Facebook: Vitality Law Australia

LinkedIn: https://www.linkedin.com/in/sarah-stoddart-23b92240/

In this episode, host Sarah Stoddart discusses current challenges faced by pharmacists dealing with regulatory matters during pharmacy business transactions. She emphasises the importance of compliance and consistency in document submissions to federal and state regulators, which has become increasingly difficult due to heightened scrutiny and additional documentation requirements.

She also speaks to the importance of ensuring that trust deeds associated with pharmacy ownership comply with state regulations since what is acceptable in one state may not be in another. Engaging advisors knowledgeable about pharmacy-specific regulations is crucial to navigating this complex landscape.

Throughout the podcast, Sarah encourages pharmacy owners to work closely with their advisors, respond promptly to requests for documentation, and set realistic expectations regarding the timeline of applications.

In conclusion, while the regulatory environment for pharmacy ownership transactions is increasingly challenging, proactive communication with legal advisors and meticulous attention to detail in documentation can help mitigate issues. Sarah’s key takeaway is the necessity for pharmacists to remain vigilant and informed, as regulatory processes are becoming more complicated rather than simpler, leading to delays and added costs. She invites listeners with questions to reach out, emphasising her commitment to supporting pharmacy owners during these challenging transitions.

Calm The Pharm is brought to you by your host, Sarah Stoddart. Sarah is the founder and director of Vitality Law Australia, a boutique law firm which provides small business owners and healthcare professionals across Australia with clear legal pathways and peace of mind. She is recognised as a leader in the healthcare industry and is one of only a few lawyers in Australia with specialist experience working with pharmacy businesses. 

In 2021, Sarah was named the Lawyers Weekly Women in Law Australian Sole Practitioner of the Year. She was also named as a finalist in the AusMumpreneur Business Awards. In 2022, she was named as a finalist in the Women in Business Awards for The Hills and Districts Chamber of Commerce, the Australian Law Awards and again in the Women in Law Awards. Sarah is the co-author of business book, “Courage and Confidence”. The book is a collection of inspirational stories combined with practical tools, tips and advice written by a small group of Australian women in business.  She is also a non-executive director of MS Queensland.

www.vitalitylawaustralia.com

Instagram: @vitalitylawaustralia

Facebook: Vitality Law Australia

LinkedIn: https://www.linkedin.com/in/sarah-stoddart-23b92240/

In this episode podcast, host Sarah Stoddart discusses the critical legal considerations involved in pharmacy business transactions, especially around contracts. She emphasises the significance of thoroughly reviewing contracts before signing, as many buyers and sellers often rush into agreements without a clear understanding of the implications. Sarah outlines three main areas that can significantly impact the success of a pharmacy transaction:

1. Customer Accounts and Loyalty Programs

2. Employee Interviews and Retention

3. Nursing Home Contracts

Stoddart warns that while buyers often focus on major aspects like purchase price and lease terms, the nuanced details surrounding customer relationships, staff retention, and contracts with third parties are equally crucial for a successful transaction. She strongly advocates for seeking quality legal and accounting advice to avoid pitfalls associated with poorly drafted agreements. A thorough and well-considered contract provides both parties with confidence and can streamline the transaction process, potentially reducing costs as well.

In summary, careful attention to the often-overlooked elements of pharmacy transactions, along with comprehensive legal guidance, can help pharmacy owners navigate their sales and purchases effectively and avoid common headaches down the line.

Calm The Pharm is brought to you by your host, Sarah Stoddart. Sarah is the founder and director of Vitality Law Australia, a boutique law firm which provides small business owners and healthcare professionals across Australia with clear legal pathways and peace of mind. She is recognised as a leader in the healthcare industry and is one of only a few lawyers in Australia with specialist experience working with pharmacy businesses. 

In 2021, Sarah was named the Lawyers Weekly Women in Law Australian Sole Practitioner of the Year. She was also named as a finalist in the AusMumpreneur Business Awards. In 2022, she was named as a finalist in the Women in Business Awards for The Hills and Districts Chamber of Commerce, the Australian Law Awards and again in the Women in Law Awards. Sarah is the co-author of business book, “Courage and Confidence”. The book is a collection of inspirational stories combined with practical tools, tips and advice written by a small group of Australian women in business.  She is also a non-executive director of MS Queensland.

www.vitalitylawaustralia.com

Instagram: @vitalitylawaustralia

Facebook: Vitality Law Australia

LinkedIn: https://www.linkedin.com/in/sarah-stoddart-23b92240/

In this episode, host Sarah Stoddart delves into the intricacies of lease assignment during the sale of a pharmacy business.

Two critical documents in the assignment process are the sale contract and the existing lease. The sale contract will indicate the buyer’s preference for the lease assignment and any potential amendments. Meanwhile, the lease will contain a clause stipulating the conditions under which the landlord's consent to the assignment can be obtained, often requiring the seller to seek consent a certain number of days before the assignment is to occur.

Typically, landlords cannot unreasonably withhold consent for lease assignments, but they may impose conditions, such as requiring information about the incoming tenant's financial standing and business experience.

The podcast emphasises the need for meticulous adherence to the necessary legal steps involved in lease assignment transactions, encouraging sellers to work closely with their lawyers throughout the process. Ultimately, executing a transparent and compliant assignment will facilitate a smoother transition of the pharmacy business.

Through this detailed exploration of lease assignments, the podcast aims to equip businessowners with the legal knowledge required to navigate this critical aspect of selling their business efficiently and effectively.

Calm The Pharm is brought to you by your host, Sarah Stoddart. Sarah is the founder and director of Vitality Law Australia, a boutique law firm which provides small business owners and healthcare professionals across Australia with clear legal pathways and peace of mind. She is recognised as a leader in the healthcare industry and is one of only a few lawyers in Australia with specialist experience working with pharmacy businesses. 

In 2021, Sarah was named the Lawyers Weekly Women in Law Australian Sole Practitioner of the Year. She was also named as a finalist in the AusMumpreneur Business Awards. In 2022, she was named as a finalist in the Women in Business Awards for The Hills and Districts Chamber of Commerce, the Australian Law Awards and again in the Women in Law Awards. Sarah is the co-author of business book, “Courage and Confidence”. The book is a collection of inspirational stories combined with practical tools, tips and advice written by a small group of Australian women in business.  She is also a non-executive director of MS Queensland.

www.vitalitylawaustralia.com

Instagram: @vitalitylawaustralia

Facebook: Vitality Law Australia

LinkedIn: https://www.linkedin.com/in/sarah-stoddart-23b92240/

In this episode, host Sarah Stoddart delves into lease agreements, specifically exploring landlords' rights to increase rent and strategies for business owners to navigate potential unfair increases. Given the current cost of living crisis, understanding lease obligations has become increasingly vital for business owners.

The foundational step in addressing any lease-related concerns is to locate your signed lease agreement. It's essential to ensure that you have the correct version - the signed copy or the final agreement version. If you’re unable to find it, consulting a lawyer for assistance in retrieving it is recommended.

Your lease document typically outlines the term and initial rent amount, along with provisions detailing how rent increases are handled over time. Under most leases, landlords can implement rent increases as stipulated, and failure to execute this on the scheduled date does not waive that right. This means if a landlord neglects to apply a rent increase at the anniversary date of the lease, they can still enforce it later.

As leases often include options for renewal at specific intervals (like every three to ten years), it's crucial to understand how rent will be determined upon exercising these options. In many cases, the new rent is assessed based on the current market value, which may require negotiation between tenant and landlord or involve a third-party valuation - a process that can be lengthy and costly. Preemptively negotiating the lease terms can provide leverage when it comes time for rent reviews or lease expirations. The podcast emphasises the importance of careful negotiation when entering a lease, as agreements reached can significantly impact future costs and your operational stability.

In conclusion, while landlords do have the right to increase rent according to the terms of the lease, it is crucial for tenants to be well-informed of their rights and actively prepare for negotiations, especially as leases expire. Keeping solid legal advice on hand will empower business owners to take appropriate steps against arbitrary rent increases.

Calm The Pharm is brought to you by your host, Sarah Stoddart. Sarah is the founder and director of Vitality Law Australia, a boutique law firm which provides small business owners and healthcare professionals across Australia with clear legal pathways and peace of mind. She is recognised as a leader in the healthcare industry and is one of only a few lawyers in Australia with specialist experience working with pharmacy businesses. 

In 2021, Sarah was named the Lawyers Weekly Women in Law Australian Sole Practitioner of the Year. She was also named as a finalist in the AusMumpreneur Business Awards. In 2022, she was named as a finalist in the Women in Business Awards for The Hills and Districts Chamber of Commerce, the Australian Law Awards and again in the Women in Law Awards. Sarah is the co-author of business book, “Courage and Confidence”. The book is a collection of inspirational stories combined with practical tools, tips and advice written by a small group of Australian women in business.  She is also a non-executive director of MS Queensland.

www.vitalitylawaustralia.com

Instagram: @vitalitylawaustralia

Facebook: Vitality Law Australia

LinkedIn: https://www.linkedin.com/in/sarah-stoddart-23b92240/

In this episode, host Sarah Stoddart discusses the critical aspects of personal guarantees.

Providing a personal guarantee is a significant financial decision that demands careful consideration of one’s financial responsibilities and risks. The implications of signing a guarantee can extend well beyond the immediate financial landscape; therefore, thorough evaluation and proactive management are paramount for anyone considering this commitment.

Calm The Pharm is brought to you by your host, Sarah Stoddart. Sarah is the founder and director of Vitality Law Australia, a boutique law firm which provides small business owners and healthcare professionals across Australia with clear legal pathways and peace of mind. She is recognised as a leader in the healthcare industry and is one of only a few lawyers in Australia with specialist experience working with pharmacy businesses. 

In 2021, Sarah was named the Lawyers Weekly Women in Law Australian Sole Practitioner of the Year. She was also named as a finalist in the AusMumpreneur Business Awards. In 2022, she was named as a finalist in the Women in Business Awards for The Hills and Districts Chamber of Commerce, the Australian Law Awards and again in the Women in Law Awards. Sarah is the co-author of business book, “Courage and Confidence”. The book is a collection of inspirational stories combined with practical tools, tips and advice written by a small group of Australian women in business.  She is also a non-executive director of MS Queensland.

www.vitalitylawaustralia.com

Instagram: @vitalitylawaustralia

Facebook: Vitality Law Australia

LinkedIn: https://www.linkedin.com/in/sarah-stoddart-23b92240/

In this episode, host Sarah Stoddart delves into the critical subject of employee entitlements in the context of buying or selling a business, focusing particularly on the adjustments that need to be made during settlement. Employee entitlements often create confusion for both buyers and sellers, but understanding them is vital for a smooth transaction.

Sarah begins by emphasising the importance of employees to a business' operation, noting that when a business is sold, buyers typically opt to retain some or all of the employees to ensure continuity.

A crucial aspect of this process involves the entitlements employees have accumulated,

This episode offers valuable insights into the complexities surrounding employee entitlements during business transactions. Buyers and sellers must carefully navigate adjustments related to accrued leave. Understanding these factors ensures both parties approach the settlement process with clarity and reduces the potential for misunderstandings.

Calm The Pharm is brought to you by your host, Sarah Stoddart. Sarah is the founder and director of Vitality Law Australia, a boutique law firm which provides small business owners and healthcare professionals across Australia with clear legal pathways and peace of mind. She is recognised as a leader in the healthcare industry and is one of only a few lawyers in Australia with specialist experience working with pharmacy businesses. 

In 2021, Sarah was named the Lawyers Weekly Women in Law Australian Sole Practitioner of the Year. She was also named as a finalist in the AusMumpreneur Business Awards. In 2022, she was named as a finalist in the Women in Business Awards for The Hills and Districts Chamber of Commerce, the Australian Law Awards and again in the Women in Law Awards. Sarah is the co-author of business book, “Courage and Confidence”. The book is a collection of inspirational stories combined with practical tools, tips and advice written by a small group of Australian women in business.  She is also a non-executive director of MS Queensland.

www.vitalitylawaustralia.com

Instagram: @vitalitylawaustralia

Facebook: Vitality Law Australia

LinkedIn: https://www.linkedin.com/in/sarah-stoddart-23b92240/