Question

Settlement or arbitration awards where the pharmacist must pay-out $3000 or more as the result of a pharmacy related matter, must be reported by either the pharmacist or the licensed pharmacist's insurer to the Board

Answer 1

Settlement or arbitration awards requiring pharmacists to pay out $3000 or more in pharmacy-related matters must be reported to the Board.

Step-by-step explanation:

In the context of a pharmacy-related matter, if a settlement or arbitration award requires a pharmacist to pay out $3000 or more, the pharmacist or the pharmacist's insurer must report it to the Board. This requirement ensures transparency and accountability in the profession and helps protect the interests of patients and the public.

Accurate reporting of such settlements ensures proper oversight and, if necessary, the implementation of remedial actions to prevent future incidents.