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 the drug manufacturer restrictions that have devastated many hospitals’ programs, every … Read More
Why a Specialty Pharmacy? (Overview) As chronic illnesses become increasingly common in the United States, the number of specialty medications for managing these conditions has skyrocketed. According to a report by The American Hospital Association, the number of Americans with chronic medical conditions will grow by a projected 9% between 2020 and 2030, an increase … Read More
ProxsysRx recently gathered three of its corporate executives for an in-depth discussion of how an eligible health system can optimize revenues from its 340B program and its retail pharmacy, to help build and fund an onsite specialty pharmacy. Below is a lightly-edited transcript of that discussion. NOTE: If you’d prefer to watch the complete video … Read More
Congress established the 340B program in 1992 to help non-profit hospitals fill-in the significant revenue gaps inherent to their business models. What the bill’s supporters did not foresee, and what very few eligible health systems realize — even today — is that 340B can function as the central hub of a multi-point program. One that … Read More
It’s no secret that the 340B Drug Pricing Program has been a lifeline for eligible health systems, enabling them to fill-in the massive revenue gaps inherent to the non-profit-hospital business model (and, in the process, support their mission of providing quality care to our nation’s most vulnerable patients) through access to discounted prescription refills. At … Read More
Based on our experience, it’s a claim we can make with 100% certainty. Since 2019, when ProxsysRx launched its 340B Support Services division, we’ve managed the 340B programs of 18 health systems. Altogether, we’ve generated more than $500 million in 340B Savings and Revenue for those health systems — $98M in the first 10 months … Read More
In late 2022, ProxsysRx’s team initiated 340B Program-Management support for a 198-bed, full-service, community and regional non-profit medical center located in the Northeast. After weeks of laying all the necessary groundwork to manage its 340B program, we began actively submitting eligible prescriptions this past January. By the end of Q1, the hospital’s 2023 340B savings … Read More
To date, we’ve published a dozen posts either detailing, or mentioning-in-passing, the clinical and financial benefits a well-run Meds To Beds program offers hospitals and the patients they serve. Which is why we thought it was time to report some of the personal benefits our program delivers — with a handful of stories we’ve heard … Read More
In the past week, no less than three articles have called attention to the restrictions drug manufacturers have imposed to evade their legal responsibility to honor 340B program prescription discounts — as well as the impact those restrictions have had on 340B-eligible nonprofit entities’ ability to serve their patients and communities. “Don’t believe drug companies: … Read More
On June 12, ProxsysRx opened its pharmacy in Holyoke Medical Center — a 198-bed independent community hospital in Holyoke, Massachusetts. The pharmacy is currently offering full retail service, and some patient-discharge prescription support (Meds To Beds), but the Employee Prescription plan still has a few hurdles to overcome. It’s a still-unfinished process that began when … Read More
