TITLE 856 INDIANA BOARD OF PHARMACY
Economic Impact Statement
LSA Document #17-283
IC 4-22-2.1-5 Statement Concerning Rules Affecting Small Businesses
The proposed rule does impose requirements or costs on small businesses under
IC 4-22-2.1-5. Small businesses affected are pharmacies.
I. Estimate of number of small businesses.
This rule applies to all pharmacies in Indiana. As of August 6, 2018, there were 1,365 active pharmacy licenses.
II. Estimate of average annual reporting, record keeping, and other administrative costs that small businesses will incur.
This rule does not require any annual reporting or record keeping. If a professional determination is made by a pharmacist on whether the individual has a legitimate need for a pseudoephedrine product, the pharmacist has discretion to document that and maintain in the individual's pharmacy record.
The rule does require pharmacists to determine whether the purchaser of the pseudoephedrine product is a patient of record or to make a professional determination as to whether there is a legitimate need for the product.
III. Estimate of total annual economic impact that compliance with the rule will have on all small businesses.
The total annual economic impact should be minimal and does not exceed $500,000. It is assumed that there is no financial cost to determine if an individual is a patient of record or if there is a legitimate need for the purchase of the product.
IV. Justification of costs and requirements not expressly required by statute.
V. Alternative regulatory methods.
Less stringent compliance or reporting requirements.
There are no alternatives for less stringent compliance as
IC 35-48-4-14.7(d) mandates the requirements described above.
Less stringent schedules or deadlines for compliance or reporting requirements.
There are no reporting requirements, schedules, or deadlines in this rule.
Consolidation or simplification of compliance or reporting requirements.
There are no reporting requirements, and consolidation or simplification is not feasible, as the requirements are mandated by statute.
Establishment of performance standards for small businesses instead of design or operational standards.
There are no design or operational standards imposed by this rule.
Exemption of small businesses from part or all of the requirements of this rule.
The requirements of this rule are mandated by statute.
Posted: 10/24/2018 by Legislative Services Agency
DIN: 20181024-IR-856170283EIA
Composed: May 20,2024 10:00:03PM EDT
A
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