NC S723

Requires the Department of Health and Human Services to establish an electronic controlled substances reporting system that provides real-time prescription information for Schedule II through V controlled substances.

Mandates dispensers report prescription information within 24 hours of dispensing (previously allowed longer reporting periods), using electronic means or paper forms if granted a waiver.

Requires prescribers and dispensers to review the controlled substances reporting system for the preceding 12-month period before prescribing or dispensing a controlled substance to determine medical necessity and appropriateness.

Exempts emergency situations where immediate action is necessary to preserve a patient's life or health from the review requirement.

Effective date is December 1, 2011.