Which TPAs Are The Best At Optimizing 340B Savings And Revenue?

December 8, 2022340B, Audit, Compliance, Contract Pharmacy, Covered Entities, TPA / TPAs

A covered entity’s guide to selecting TPAs for its 340B program TPAs play a critical role in any covered entity’s 340B program. It’s their job to match contract pharmacies’ prescription claims with patient data provided by the health systems they serve, to determine 340B eligibility — and generate entity savings. Without those matches, no prescriptions … Read More

How To Manage A Director of Pharmacy’s Responsibilities And An Optimized 340B Program. Without Hiring More Staff.

November 9, 2022340B, 340B ESP, Bedside Prescription Delivery, Compliance, Contract Pharmacy, Meds To Beds, Outpatient Tracking, Patient Eligibility, Retail / Outpatient Pharmacy, Specialty Pharmacy

Two DOPs Deal With Operations, The 340B Program, And Drug Manufacturers’ Restrictions ProxsysRx recently organized an introductory Zoom meeting between the DOPs of two health systems we serve. Southwest Mississippi Regional Medical Center’s (SMRMC) Tiffany Poole earned her Doctorate of Pharmacy degree from the University of Mississippi in 2006. A ProxsysRx pharmacist since 2018, she … Read More

Specialized Software Can Only Do So Much For 340B Programs

October 6, 2022340B, 340B ESP, Compliance, Requirements

Why specialized software is essential for successful 340B programs As we’ve mentioned in several previous posts, many hospitals taking full advantage of 340B programs’ discounts save millions of dollars a year on prescription costs. However, 340B programs cover thousands of discounted drugs, and, for most eligible entities, thousands — if not tens of thousands — … Read More

Use Your Hospital’s Retail Pharmacy 340B Drug Savings To Build A Specialty Pharmacy

September 12, 2022340B, Compliance, Covered Entities, Specialty Drugs, Specialty Pharmacy

For 340B-eligible hospitals dealing with increasingly tight bottom lines (which essentially means all 340B-eligible hospitals), 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 do in traditional retail / outpatient or contract pharmacy 340B revenue. What is … Read More

340B Best Practices You Need To Know

April 1, 2022340B, Audit, Bedside Prescription Delivery, Compliance, Contract Pharmacy, Covered Entities, Meds To Beds, Overview, Patient Eligibility, Requirements, Specialty Pharmacy, Specialty Pharmacy

If your hospital is 340B-eligible, you may be missing-out on millions of dollars in prescription reimbursements. Savings and revenue which, for some hospitals served by ProxsysRx, actually make the difference between solvency and closure. Any list of Best Practices for running a 340B program starts with maintaining compliance. Tips for maintaining 340B Program Compliance The … Read More

What is 340B Double-Dipping, and How Can You Avoid It?

March 25, 2022340B, Compliance, Contract Pharmacy, Covered Entities, Patient Eligibility, Registration, Requirements

The 340B drug pricing program allows eligible providers to replenish prescriptions to eligible patients at significantly reduced pricing, and bill normal market rates for those prescriptions —helping the entities fill revenue gaps that are inherent to their business models. That said, the program does not allow eligible providers to take advantage of 340B discounts and … Read More

How Do I Take Advantage Of The 340B Program For My Specialty Pharmacy?

March 9, 2022340B, Compliance, Covered Entities, Specialty Drugs, Specialty Pharmacy

Getting started with the 340b program If your hospital isn’t already 340B registered and eligible, you might want to refer to our previous blog post, Are you ready to enroll in the 340B program? What is a Specialty Pharmacy? The National Association of Specialty Pharmacy defines a specialty pharmacy as a state-licensed pharmacy that solely … Read More