Understanding the Six Categories of 340B Covered Entities

October 25, 2021340B, Compliance, Covered Entities, Requirements

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

What is the 340B Drug Pricing Program?

October 11, 2021340B, Compliance, Overview, Requirements

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

Enhancing Patient Care and System Revenue: The Case for Onsite Specialty Pharmacies in 340B Hospitals.

October 8, 2021Uncategorized

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

Starting A 340B Specialty Pharmacy: What Does The Process Look Like?

October 7, 2021Uncategorized

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

How Can Your 340B Hospital Pay For Its Own Specialty Pharmacy?

October 6, 2021Uncategorized

Since 2019, ProxsysRx has generated more than $500 million in 340B savings and revenue for the health systems we serve — and yes, we’ve learned to overcome many of even the toughest manufacturers restrictions. We work with hospitals to unlock pharmacy’s potential throughout the continuum of care. We optimize revenues from their 340B programs and … Read More

Best Practices For A Successful 340B Specialty Pharmacy

October 5, 2021Uncategorized

Below are highlights of an in-depth roundtable discussion outlining how eligible health systems can ensure the success of their onsite specialty pharmacies. To watch videos of that discussion, organized by topic, Click Here. You can also find a curated transcript of the entire discussion here. Nurture strong pharmacist / provider relationships It’s critical that you … Read More

340B Outlook For 2024: Change. Change. And More Change.

October 4, 2021340B, 340B ESP, Contract Pharmacy, Covered Entities, Drug Manufacturer Restrictions, Specialty Drugs, Specialty Drugs, Specialty Pharmacy, Specialty Pharmacy, TPA / TPAs

What we’ve learned. What it means for your 340B program. Between late 2019 and the end of 2023, ProxsysRx’s 340B Support program went from Zero to more than $500 million in savings generated for the hospitals and health systems we serve. In spite of drug manufacturer restrictions, every one of the 13 health systems we … Read More