ProxsysRx’s process for recovering lost 340B savings and revenue As we’ve noted in multiple earlier blog posts, 340B ESP is nothing short of a blatant, lawless tactic used by scores of drug manufacturers to disallow the discounts they are legally obligated to offer eligible entities. At the same time, a number of additional manufacturers are … Read More
340B
Which TPAs Are The Best At Optimizing 340B Savings And Revenue?
A covered entity’s guide to selecting TPAs for its 340B program TPAs play a critical role in any covered entity’s 340B program. It’s their job to match contract pharmacies’ prescription claims with patient data provided by the health systems they serve, to determine 340B eligibility — and generate entity savings. Without those matches, no prescriptions … Read More
How To Manage A Director of Pharmacy’s Responsibilities And An Optimized 340B Program. Without Hiring More Staff.
Two DOPs Deal With Operations, The 340B Program, And Drug Manufacturers’ Restrictions ProxsysRx recently organized an introductory Zoom meeting between the DOPs of two health systems we serve. Southwest Mississippi Regional Medical Center’s (SMRMC) Tiffany Poole earned her Doctorate of Pharmacy degree from the University of Mississippi in 2006. A ProxsysRx pharmacist since 2018, she … Read More
What Is Your Health System’s Potential ROI With An Optimized 340B Program?
Introducing ProxsysRx’s 340B Program ROI Calculator The 340B program has often been described, and with good reason, as a black box. There are dozens of factors impacting an individual hospital’s relative success or failure in generating positive returns from a program. ProxsysRx has optimized dozens of 340B programs — generating tens of millions in savings … Read More
Specialized Software Can Only Do So Much For 340B Programs
Why specialized software is essential for successful 340B programs As we’ve mentioned in several previous posts, many hospitals taking full advantage of 340B programs’ discounts save millions of dollars a year on prescription costs. However, 340B programs cover thousands of discounted drugs, and, for most eligible entities, thousands — if not tens of thousands — … Read More
Use Your Hospital’s Retail Pharmacy 340B Drug Savings To Build A Specialty Pharmacy
For 340B-eligible hospitals dealing with increasingly tight bottom lines (which essentially means all 340B-eligible hospitals), an in-house specialty pharmacy offers enormous savings and revenue potential. Some covered entities generate as much as 600% in specialty pharmacy revenue from 340B drugs as they do in traditional retail / outpatient or contract pharmacy 340B revenue. What is … Read More
Avoid These Six Common Errors When Reporting 340B-Eligible Prescriptions Through 340B ESP
As we noted in a previous post, 340B ESP is nothing less than a brazen and (in our opinion) unlawful ploy by the drug manufacturers to evade the discounts they are legally obligated to offer eligible entities — by placing extraordinary, and unnecessary, reporting burdens on hospitals submitting claims for 340B savings. That said, until … Read More
340B ESP. Why It’s Wrong, And How Hospitals Can Deal With It.
(NOTE: Over the years, we’ve served dozens of non-profit hospitals. We’ve seen the profound impact the 340B program has had in supporting their missions of serving the most vulnerable members of their communities. That said, we apologize, in advance, for the stridency of our tone on this page — but not for our sense of … Read More
How Drug Manufacturer Restrictions And PBMs Undermine Hospitals’ 340B Savings And Outpatient-Pharmacy Margins
If you’re an eligible hospital with an existing 340B program, you know that your wholly-owned outpatient pharmacy is required to buy non-340B medications at Wholesale Acquisition Cost (WAC) — unless you’ve put it in an LLC, and registered it as a child site, or you’re a Critical Access Hospital, and exempt from the requirement. You’ve … Read More
340B Best Practices You Need To Know
If your hospital is 340B-eligible, you may be missing-out on millions of dollars in prescription reimbursements. Savings and revenue which, for some hospitals served by ProxsysRx, actually make the difference between solvency and closure. Any list of Best Practices for running a 340B program starts with maintaining compliance. Tips for maintaining 340B Program Compliance The … Read More