456110 - Pharmacies and Drug Retailers
When it comes to the healthcare industry, NAICS code 456110 stands out as a vital classification for businesses focused on dispensing medications and promoting health. Whether you're a business owner, government contractor, or researcher, understanding the ins and outs of this NAICS code can open doors to numerous opportunities within the healthcare and social assistance sector.
What is NAICS Code 456110?
NAICS code 456110 is designated for Pharmacies and Drug Retailers. This industry primarily includes establishments engaged in the retail sale of prescription and nonprescription drugs and medicines. These businesses often provide supplementary health services such as prescription filling and health consultations, making them essential players in community health management.
Sector Overview: Health Care and Social Assistance
NAICS 456110 falls under the broader Health Care and Social Assistance sector, highlighting its role in supporting public health infrastructure. This sector focuses on delivering health treatment, ambulatory care, hospital services, and social assistance, with pharmacies acting as key retail touchpoints for medication and health products.
What Businesses and Activities are Included?
Typical businesses and activities covered under NAICS 456110 include:
- Community pharmacies
- Drug stores and apothecaries
- Retail health clinics
- Institutional pharmacies (both on-site and off-site)
- Mail-order and internet-exclusive drug retailers
These businesses not only sell prescription and over-the-counter medications but often stock vitamins, health aids, medical supplies, and sometimes offer consultation or immunization services.
Size Standard for NAICS 456110
For purposes like government contracting and SBA loans, the size standard for this NAICS code is set at $37.5 million in average annual receipts. This means businesses with revenues at or below this threshold typically qualify as small businesses within this industry classification.
Detailed NAICS Code 456110 Breakdown
| Code Details | Description |
|---|---|
| Apothecaries | Traditional drugstores providing prescription drugs |
| Drug stores | Retail outlets selling prescription and OTC medications |
| Institutional pharmacies, off-site, exclusively on Internet | Pharmacies operating online without physical storefronts |
| Institutional pharmacies, off-site, mail-order | Pharmacies delivering medications via mail order |
| Institutional pharmacies, on-site | Pharmacies located within healthcare facilities |
| Pharmacies | General retail establishments selling medicinal products |
Why Understanding NAICS 456110 is Important
- Business opportunities: Government contracts, grants, and small business certifications often depend on accurate NAICS classification.
- Market analysis: Helps in analyzing competitors and potential partners within the pharmacies segment.
- Compliance and regulation: Aligning with industry classification supports better compliance with healthcare laws and reporting.
Frequently Asked Questions (FAQs)
Q: Can mail-order pharmacies be classified under NAICS 456110?
A: Yes, institutional pharmacies that operate off-site via mail-order are included under this NAICS code.
Q: Does NAICS 456110 cover online-only drug retailers?
A: Yes, pharmacies operating exclusively on the internet fall within this classification.
Q: What is the importance of the size standard for pharmacies?
A: The size standard of $37.5 million helps determine small business eligibility for government programs and contracts.
Q: Do retail health clinics fall under this NAICS code?
A: Yes, retail health clinics associated with pharmacies are typically classified under NAICS 456110.
Conclusion
NAICS code 456110 encompasses a critical slice of the healthcare sector focusing on pharmacies and drug retailers. Understanding this classification is essential for businesses involved in retail medication sales, government procurement, and healthcare market analysis. Whether you operate a community pharmacy, a mail-order drug service, or an institutional pharmacy, aligning with this NAICS code ensures proper categorization and access to opportunities within the Health Care and Social Assistance sector.
Keywords: NAICS code 456110, Pharmacies and Drug Retailers, pharmacies classification, drug stores, prescription drugs, health care sector, retail health clinics, SBA size standards, government contracting pharmacies
