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This document serves to collect annual inventory details of controlled substances stored at licensed locations in Michigan, requiring specific licensing information and drug details for compliance

How to fill out annual controlled substance inventory

How to fill out Annual Controlled Substance Inventory

1. Gather all controlled substances from your inventory.
2. Organize the substances by their schedules (I-V).
3. Count and verify the quantity of each controlled substance.
4. Record the name, strength, and dosage form of each substance.
5. List the location where each controlled substance is stored.
6. Document the date and time of the inventory.
7. Ensure that all records are kept in compliance with state and federal regulations.

Who needs Annual Controlled Substance Inventory?

1. Pharmacies
2. Hospitals
3. Narcotics treatment programs
4. Research facilities
5. Veterinary clinics
6. Any entity that handles controlled substances as per state and federal laws.

People Also Ask about

What is a controlled substance in English?

A drug or other substance that is tightly controlled by the government because it may be abused or cause addiction. The control applies to the way the substance is made, used, handled, stored, and distributed. Controlled substances include opioids, stimulants, depressants, hallucinogens, and anabolic steroids.

What is the definition of perpetual inventory in pharmacy?

A perpetual inventory is the maintenance of an accurate count of all schedule II controlled substances in a pharmacy or institutional pharmacy.

What is an annual inventory?

An Annual Inventory Count is a process where a business physically counts and verifies all the items in its inventory once a year. This count is typically done at the end of the fiscal year to ensure that the recorded inventory numbers in the company's financial statements match the actual physical inventory.

What is the difference between a physical inventory and a perpetual inventory?

Perpetual inventory continuously tracks and records items as they are added to or subtracted from the inventory. And it keeps track of the cost of goods purchased and sold. Physical inventory uses a periodic schedule to manually count and record items and keep track of the cost of what's bought and sold.

What is a biennial inventory?

Although required by the DEA to be conducted within 2 years UCLA conducts these annually. The Biennial Inventory is a snapshot of the on-hand controlled substance inventory at the “close of business” for that day even if it is zero.

What type of inventory must be taken every 2 years in a pharmacy?

A complete inventory of controlled substances must be taken every two years. An exact unit count (num- ber of tablets or capsules) is required for controlled substances.

Does the DEA require that inventory counts be done?

The DEA requires a physical inventory of all controlled substances to be conducted every two years for each registered location. The inventory may be taken on any date within two years of the previous inventory date.

How often must a complete narcotic inventory take place?

As the name of the requirement indicates, the inventory of controlled substances must be taken every two years after the initial inventory is created. The registrant must record the following inventory changes: The arrival of new drugs. The normal use of the drugs.

For pdfFiller’s FAQs

What is Annual Controlled Substance Inventory?

The Annual Controlled Substance Inventory is a comprehensive count and record of all controlled substances held by a facility or practitioner at a specific point in time, typically conducted once every year to comply with regulatory requirements.

Who is required to file Annual Controlled Substance Inventory?

Individuals and facilities that are registered to handle controlled substances, such as pharmacies, hospitals, and healthcare practitioners, are required to file an Annual Controlled Substance Inventory.

How to fill out Annual Controlled Substance Inventory?

To fill out the Annual Controlled Substance Inventory, a registrant should count all controlled substances on hand, document the quantity of each substance, specify the name and form of each medication, and ensure the accuracy of the record by cross-referencing with previous inventories and purchase records.

What is the purpose of Annual Controlled Substance Inventory?

The purpose of the Annual Controlled Substance Inventory is to ensure compliance with federal and state regulations, prevent drug diversion, maintain accurate records, and monitor the usage and distribution of controlled substances.

What information must be reported on Annual Controlled Substance Inventory?

The information that must be reported on the Annual Controlled Substance Inventory includes the name of each controlled substance, its quantity on hand, the dosage form, the schedule classification, and any discrepancies between expected and actual counts.