(NOTE: The purpose of this article is to explore 340B program requirements and the process of enrolling. If you’re not already familiar with the program’s benefits, and how it can work for your Health System, Click Here.) 340B-Eligible Entities The first step in preparing your health system for enrollment in the 340B program is to … Read More
Although the 340B drug pricing program was created by Congress to provide significant discounts on prescription drugs for eligible health care providers, a surprisingly low percentage of providers take advantage of their legal right to use it in reducing costs and filling revenue gaps. As a leading provider of 340B program-management services, we believe the primary … Read More
Contract pharmacies play a critical role in optimizing the potential savings and revenue that eligible hospitals can generate with a well-managed 340B program. They’re also an important extension of a 340B hospital’s overall care of, and for, its outpatients. Increasing the number of independent pharmacies serving as contract pharmacies enhances a hospital’s ability to offer … Read More
A 340B Contract Pharmacy is a retail entity that provides prescription drugs to patients of 340B-eligible covered entities under the 340B Drug Discount Program. To determine if your health system is 340B-eligible, visit the HRSA.gov site, or click here for our post — “Understanding The 340B Program Requirements.” According to a Fact Sheet by the … Read More
What Is The 340B Drug Pricing Program? The 340B drug pricing program was created by Congress in 1992 to help fill revenue gaps experienced by healthcare providers operating on very low, or negative, margins — by providing significant discounts on prescription drugs. In a March, 2023 Fact Sheet, The American Hospital Association (AHA.org) noted, “The … Read More
The 340B Drug Pricing Program is a federal health care law that provides significant discounts and reimbursements on prescription drugs for many healthcare providers, including several categories of hospitals. This article discusses how to determine if your hospital qualifies as an eligible entity, and what you should know about each category of hospital in order … Read More
The 340B drug pricing program was created by Congress in 1992 to provide significant discounts on prescription drugs for certain health care providers. Its purpose is to help reduce costs and fill revenue gaps for those providers. The program allows eligible hospitals, clinics, pharmacies, nursing homes, home healthcare agencies, hospices, dialysis centers and long-term acute … Read More
Since 2019, ProxsysRx’s 340B team has generated over $500 million in 340B revenue for the health systems we serve. During that time, we’ve developed any number of strategies and tactics for overcoming 340B ESP and other manufacturer restrictions. Below are the seven key elements of our process. 1. Establishing communications between health system providers and … Read More
As chronic illnesses become increasingly common in the United States, the number of specialty medications for managing these conditions has skyrocketed. From a financial perspective, the number one reason a 340B hospital should consider an onsite specialty pharmacy is the significantly increased potential for generating 340B savings — and for passing-along those savings to patients … Read More
Opening an onsite specialty pharmacy is extremely challenging — particularly given the effort required just to get access to purchase specialty meds, and then to get “In Network” with PBMs. That said, ProxsysRx has developed a proven process for meeting those challenges. Owning a successful specialty pharmacy starts with optimizing your 340B program (For an … Read More
