Maximizing pharmacy’s role in your hospital’s revenue cycle The 340B landscape continues to evolve rapidly, with ongoing manufacturer restrictions, new compliance hurdles, and increasing financial pressures on covered entities. The average 340B-eligible hospital loses a substantial amount of money due to drug manufacturer restrictions on the program. Recent estimates indicate that hospitals and clinics collectively … Read More
How your health system can leverage visibility, your PBM and your pharmacies to achieve your financial and clinical goals. The systemic problem: Overview The U.S. prescription drug market is a textbook case of waste and inefficiency — one that, in recent years, has disproportionately benefited a handful powerful corporations at the expense of providers, … Read More
Fair Warning: If you ever dismissively ask that question (above) of someone who’s led the planning and launch of a 340B hospital’s specialty pharmacy, and did it with no outside support, there’s a good chance you’ll get punched. Yes, it’s that difficult. POST OUTLINE Why is it so hard to build a 340B specialty … Read More
There are so many reasons Brandi Henneman has had such a positive impact on participation rates for ProxsysRx’s Readmission Reduction program at South Carolina’s Conway Medical Center. Chief among them, her first-rate professionalism, and her genuinely caring disposition — which immediately tells patients she has their best interests at heart. It’s a sense of comfort … Read More
As noted in a 2018 study conducted by the National Institutes Of Health (NIH), one of the cornerstones of the 2010 Patient Protection and Affordable Care Act (ACA) is the Hospital Quality Initiative for enhancing patient safety, reducing hospital readmissions, improving quality, and minimizing healthcare costs. The cost of patient readmissions to hospitals According to … Read More
POST OUTLINE Introduction: Overview Review of Johnson & Johnson’s drug rebate payments in 2023 J&J’s 2023 profit margin Johnson & Johnson’s real rebate problem 340B and the drug industry as a whole Estimated percentage of drug sales supporting 340B health systems Why the actual number is lower than reported The importance of 340B savings & … Read More
Week One: Tallahassee, Florida. Training at the pharmacy. Week Two: Holyoke, Massachusetts. Training at the pharmacy. Week Three: Houma, Louisiana. Training at the pharmacy. Week Four: Home. You’d think, at some point, that a life spent mostly on the road — living out of a suitcase, repeating the same processes week-in and week-out — might … Read More
POST OUTLINE PHASE ONE: Organizing 340B data, coordinating teams Connecting and educating 340B system providers Requalifying all eligible, but unreimbursed, 340B scripts Retrieving 340B eligible-script data Establishing communication lines between internal and external 340B teams Why specialized software is essential for successful 340B programs The central problem with most 340B programs’ data Why 340B software … Read More
Far too many 340B hospitals overlook pharmacy’s overall potential in their health systems’ revenue cycles. Below is a graphic overview of ProxsysRx’s integrated approach to optimizing a health system’s pharmacy services, savings and revenue. In 340B support alone, we’ve generated over $500 million for the hospitals we serve — revenue those systems have used to … Read More
The automated approach to optimizing 340B savings & patient care while overcoming manufacturer restrictions NOTE: The purpose of this article is to highlight features and functionality any 340B platform needs to optimize a health system’s 340B savings and revenue. That said, we determined that the easiest way to report those features was to describe the … Read More
