Your Hospital’s 340B Contract Pharmacy Network Is Not What It Should Be.

November 15, 2023340B, Contract Pharmacy, Covered Entities, Drug Manufacturer Restrictions, Patient Eligibility, PBM, Prescription Discounts, Specialty Drugs, Specialty Drugs, Specialty Pharmacy, Specialty Pharmacy, TPA / TPAs, Uncategorized

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 $435 million in 340B Savings and Revenue for those health systems — $98M in the first 10 months … Read More

Best Practices For A 340B Hospital Looking To Build An Onsite Specialty Pharmacy

October 13, 2023340B, Outpatient Tracking, Retail / Outpatient Pharmacy, Specialty Drugs, Specialty Pharmacy

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

ProxsysRx’s Meds To Beds Program Makes Immediate Impact Upon Launch At TMH

September 26, 2023340B, Bedside Prescription Delivery, Meds To Beds, Prescription Discounts, Retail / Outpatient Pharmacy, Specialty Pharmacy

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

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

August 22, 2023340B, 340B ESP, Bedside Prescription Delivery, Compliance, Covered Entities, Drug Manufacturer Restrictions, Meds To Beds, Prescription Discounts, Requirements, Specialty Drugs, Specialty Drugs, Specialty Pharmacy, Specialty Pharmacy

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

Drug Manufacturers’ 340B Restrictions Generate New Round Of Media Scrutiny & Criticism

August 16, 2023340B, 340B ESP, Drug Manufacturer Restrictions, News Updates

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

So You Want To Build An Outpatient Pharmacy For Your Hospital? Here’s What’s Involved.

July 5, 2023340B, Bedside Prescription Delivery, Meds To Beds, Meds To Beds, Prescription Discounts, Retail / Outpatient Pharmacy

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

How ProxsysRx Quadrupled One 340B Entity’s Savings & Revenue In A Single Quarter

June 21, 2023340B, Contract Pharmacy, Covered Entities, Drug Manufacturer Restrictions, Retail / Outpatient Pharmacy, Specialty Pharmacy

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

The 2023 Guide To Implementing An Effective 340B Program

May 24, 2023340B, 340B ESP, Bedside Prescription Delivery, Compliance, Covered Entities, Drug Manufacturer Restrictions, Meds To Beds, PBM, Requirements, Specialty Drugs, Specialty Drugs, Specialty Pharmacy, Specialty Pharmacy, TPA / TPAs

The 340B-program landscape has changed dramatically. For the 340B program’s first 28 years after its 1992 inception, the basic list of Best Practices for eligible entities (the 340B basics, if you will) remained largely unchanged — aside from the dramatically-increased importance of using specialized software. But since the June, 2020 introduction of 340B ESP — … Read More

Why 340B Hospitals Should Now Build Their Own Specialty Pharmacies

May 3, 2023340B, 340B ESP, Covered Entities, Drug Manufacturer Restrictions, Retail / Outpatient Pharmacy, Specialty Drugs, Specialty Drugs, Specialty Pharmacy, Specialty Pharmacy, TPA / TPAs

340B ESP and drug manufacturer restrictions are only part of the reason As we noted in a previous post, for 340B-eligible hospitals dealing with increasingly squeezed bottom lines, 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 … Read More

Manufacturers Accelerate Pace And Severity Of 340B Drug Pricing Restrictions

May 1, 2023340B, 340B ESP, Contract Pharmacy, Covered Entities, Drug Manufacturer Restrictions, Requirements, TPA / TPAs

There’s an old saying that it’s better to be rich and guilty than poor and innocent. It’s a sad truth that accurately reflects the current state of 340B manufacturer restrictions, particularly in the wake of the January 30, 2023 decision by the U.S. Court of Appeals for the Third Circuit — which was largely in … Read More