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
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
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
What does it mean for 340B entities’ diminished savings & revenue? As we noted in a previous post, 340B ESP is nothing less than an unlawful ploy by the drug manufacturers to evade the discounts they are legally obligated to offer eligible entities — by placing unnecessary reporting burdens on hospitals submitting claims for 340B … Read More
POST OUTLINE 1) Introduction / Overview 2) What is the 340B Drug Pricing Program? 3) A brief history of 340B ESP The reporting burdens 340B ESP place on covered entities. The real reason behind 340B ESP? 4) How we help eligible entities deal with 340B ESP Reporting your eligible prescriptions to 340B ESP. Tracking your … Read More
What is the Hospital Readmissions Reduction Program? HRRP is a value-based Medicare purchasing program that encourages hospitals to improve communication and care coordination to better engage patients and caregivers in discharge plans and, in turn, prevent avoidable readmissions. According to the Centers for Medicare & Medicaid Services, “Value-based programs reward health care providers with incentive … Read More
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
The impact of medication non-adherence on hospital readmissions We’ve reported the following elsewhere in this forum, but it bears repeating: Statistics indicate that up to 70% of all preventable outpatient readmissions are due to prescription non-compliance. Making matters worse for hospitals, the analytics generated by VytlOne’s proprietary software indicate that readmissions from prescription non-compliance are … Read More
How can outpatient pharmacies reduce hospital readmissions? We’ve reported the following statistical finding elsewhere in this forum, but it bears repeating: Up to 70% of all preventable outpatient hospital readmissions are due to prescription non-compliance. Making matters worse for hospitals, the analytics generated by VytlOne’s proprietary software indicate that average hospital readmissions from prescription non-compliance … Read More
As we reported in our post on Value-Based Care, statistical evidence indicates that up to 70% of all preventable hospital readmissions are caused by patient prescription non-compliance. What’s more, analytics generated by our own proprietary software further indicate that readmissions from prescription non-compliance are, on average, more expensive than other readmissions — often much more. … Read More
