How quickly must a loss or theft of controlled substances be reported to the Board?

The requirement to report a loss or theft of controlled substances to the Board within 1 business day is based on regulations that mandate prompt reporting to help mitigate the potential risks associated with such incidents. Timeliness is crucial in responding to these events, as it allows for swift actions to investigate the circumstances of the loss and helps in maintaining public safety by preventing further unauthorized access to the drugs. The emphasis on a business day rather than a calendar day acknowledges standard operating hours and timelines for businesses, hence providing a realistic expectation for pharmacies and other facilities to report.

This urgency in reporting is particularly relevant in the context of controlled substances due to the high potential for misuse and the regulatory need to ensure that such substances are accounted for properly. By requiring the report within 1 business day, the Board can take necessary steps to investigate the incident and implement measures to prevent future occurrences.