National All Schedules Prescription Electronic Reporting Act of 2004

National All Schedules Prescription Electronic Reporting Act of 2004 - Amends the Public Health Service Act to require the Secretary of Health and Human Services to award one-year grants to each approved State to establish or improve a State controlled substance monitoring program. Requires the Secretary to develop minimum standards for States to ensure security of information collected and to recommend penalties for the provision or use of information in violation of applicable laws or regulations.

Requires each approved State to: (1) require dispensers to report to the State within one week of each dispensing of a controlled substance to an ultimate user or research subject; and (2) establish and maintain an electronic searchable database containing the information reported. Allows a State to provide information from the database in response to certain requests by practitioners, law enforcement, narcotics control, licensure, disciplinary, or program authorities, the controlled substance monitoring program of another State, and agents of the Department of Health and Human Services, State Medicaid programs, State health departments or the Drug Enforcement Administration.

Requires the Secretary to: (1) specify a uniform electronic format for the reporting, sharing, and provision of information under this Act; and (2) study and report to Congress on such programs, including on interoperability between programs, the feasibility of a real-time electronic controlled substance monitoring program, privacy protections, and technological alternatives to centralized data storage.