July 2024

In This Issue:

• Cyber Threats on the Rise
• SCOTUS Strikes Down Chevron
• Pharmacy of the Year Finalist
• Plan Now for Flu Season
• On the Shelf: Liquid I.V.

Cyber Threats on the Rise; Take Steps to Protect Your Pharmacy!

Cybersecurity attacks are an unfortunate fact of life for businesses of all sizes. Email-based attacks are one of the most prolific methods hackers use to take advantage of users.

Many small businesses – including independent pharmacies – believe they are “too small” to be a target of these threats. The truth is that hacking is easier than ever and with AI and automation tools, no one is safe. There are entire call centers dedicated to ripping off people, and they don’t care if it's $500 or $500,000.

The Scam

APCI IT personnel are seeing a particular scenario playing out with various types of businesses. For example: Pharmacy A’s email was compromised without their knowledge. The hacker is seeking accounting information and has several options to get the information they want. They can: 1) Send phishing emails to the pharmacy’s contact list to find the right target; or 2) if they are in the right place, observe email communications until the right email comes through.

When the hacker finds the right target, they will send convincing emails to the contact list asking to update bank information. The hacker will then intercept the email communication, hiding it from the email account owner, and supply their bank account information. This can go on for months if there is no communication between the clients. The result: The pharmacy loses thousands of dollars, with no recourse, and the hacker laughs all the way to the bank.

Prevention Measures:

There are multiple ways APCI members can avoid this scenario. The most important takeaway is that it can happen to you, so you must be aware of these types of cybersecurity threats. 

Here are some preventative measures:

1. Second Factor Confirmation: Always get a second-factor confirmation from anyone asking you to update bank account information. Call them directly.
2. Monitor Receivables: Closely monitor your receivables (rebates, insurance payments, etc.) to ensure the money owed is reaching your bank account.
3. Recognize Suspicious Activity: Look out for any unusual or unexpected requests, especially those involving sensitive information or financial transactions. If something seems off, always verify the request through a different communication channel.
4. Implement Strong Passwords: Use strong, unique passwords for your accounts. Avoid using easily guessable information such as birthdays or common words.
5. Enable Multi-Factor Authentication (MFA): MFA adds an extra layer of security by requiring more than one form of verification to access an account. Please enable MFA on all accounts where it is available.
6. Be Cautious with Emails: Be wary of emails from all senders, and do not click on links or download attachments from suspicious emails. Verify the authenticity of the sender before taking any action.
7. Regular Training: Participate in regular cybersecurity training sessions. Staying informed about the latest threats and best practices is crucial in protecting our organization.
8. Report Incidents Promptly: If you suspect a security incident, report it immediately to our IT department. Quick reporting can help contain the threat and minimize damage.

This is an unfortunate scenario that has happened to many and serves as a stark reminder that cybersecurity is not just an IT issue – it is a collective responsibility that involves every one of us.

Stay vigilant and protect your business.

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SCOTUS Strikes Down Chevron, Regulations Could be Affected

Decision Reverses 40 Years of Precedent

For 40 years, the US Supreme Court gave administrative agencies the benefit of the doubt when interpreting federal laws, but that all ended when the Court ruled that courts should rely on their own interpretation of these laws as the final word instead of the federal agencies.

The Chevron decision was decided in 1984 in Chevron v. Natural Resources Defense Council and required a court to uphold the agency’s interpretation of a statute as long as it was reasonable. In its recent ruling by Chief Justice John Roberts, this doctrine was rejected and called “fundamentally misguided.”

This decision will have significant implications for industries that are heavily dependent on regulations and agency interpretations like healthcare. The FDA, HHS, and CMS are just a few of the federal agencies that impact healthcare and specifically pharmacy.

This decision may not have an immediate impact, but it will shape regulations as well as legislation in the coming years. APCI General Counsel and VP of Healthcare Policy Greg Reybold weighed in, saying “the downstream effects of this decision will be far reaching and complex. In healthcare, where so many regulations and agency actions have seemingly empowered the bad practices of insurers and PBMs, this may create avenues for providers to push back.  On the other hand, when a regulatory agency is determined to hold insurers and PBMs accountable, this decision will likely empower those corporate behemoths to obstruct legitimate efforts to hold them accountable.”

Your APCI Legislative Affairs team will be monitoring developments closely and will keep you informed about how you may be affected.

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Hayden Health Mart Pharmacy Selected as Finalist for Pharmacy of the Year

Congratulations to APCI member Hayden Health Mart Pharmacy for being selected as a finalist for Health Mart Pharmacy of the Year! We're proud of the work that owner Jennifer Metcalf and her staff do every day to care for their patients and the community! While they didn't come out on top, they kept the streak alive for APCI Pharmacies to be recognized as a finalist. Will your store be the next in line?

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Plan Now for Flu Season

You should have your flu vaccines reserved for the 2024-25 Flu Season. Now it’s time to plan how to get those vaccines in arms!

Below are a few ways you can get ready now before it’s time to get out the needles.

• Make sure you have storage space set aside for when the vaccines come in. It may be time to return some unneeded stock or rearrange so that you have plenty of space to store the vaccines, needles, and PPE. Now is a good time to make sure you have all the supplies you'll need for clinics and walk-ins.
• Get out any posters and ads you’ve run in the past and see what needs to be replaced or updated.
• Reach out to companies, school districts, and churches to offer to set up vaccine clinics on site to vaccinate staff, students and anyone else interested.

Flu season will be here before we’re completely ready, but if you start preparing now, you’ll be in good shape when your patients start coughing and sneezing.

Liquid I.V.

It’s Hot! Offer your patients a better hydration option with the Liquid I.V. Hydration Multiplier. Check out the special on the Lemon Lime 6 count box today.

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