Maximizing pharmacy’s role in your hospital’s revenue cycle The 340B landscape continues to evolve rapidly, with ongoing manufacturer restrictions, new compliance hurdles, and increasing financial pressures on covered entities. The average 340B-eligible hospital loses a substantial amount of money due to drug manufacturer restrictions on the program. Recent estimates indicate that hospitals and clinics collectively … Read More
Fair Warning: If you ever dismissively ask that question (above) of someone who’s led the planning and launch of a 340B hospital’s specialty pharmacy, and did it with no outside support, there’s a good chance you’ll get punched. Yes, it’s that difficult. POST OUTLINE Why is it so hard to build a 340B specialty … Read More
POST OUTLINE Introduction: Overview Review of Johnson & Johnson’s drug rebate payments in 2023 J&J’s 2023 profit margin Johnson & Johnson’s real rebate problem 340B and the drug industry as a whole Estimated percentage of drug sales supporting 340B health systems Why the actual number is lower than reported The importance of 340B savings & … Read More
POST OUTLINE PHASE ONE: Organizing 340B data, coordinating teams Connecting and educating 340B system providers Requalifying all eligible, but unreimbursed, 340B scripts Retrieving 340B eligible-script data Establishing communication lines between internal and external 340B teams Why specialized software is essential for successful 340B programs The central problem with most 340B programs’ data Why 340B software … Read More
Far too many 340B hospitals overlook pharmacy’s overall potential in their health systems’ revenue cycles. Below is a graphic overview of ProxsysRx’s integrated approach to optimizing a health system’s pharmacy services, savings and revenue. In 340B support alone, we’ve generated over $500 million for the hospitals we serve — revenue those systems have used to … Read More
The automated approach to optimizing 340B savings & patient care while overcoming manufacturer restrictions NOTE: The purpose of this article is to highlight features and functionality any 340B platform needs to optimize a health system’s 340B savings and revenue. That said, we determined that the easiest way to report those features was to describe the … Read More
Why 340B vendors charging Percentage Of Revenue is wrong. The United States Congress established the 340B statute in 1992 to help non-profit hospitals fill-in the often-backbreaking revenue gaps inherent to their business models — enabling covered entities to replenish eligible prescriptions at significant savings. Savings which they can then pass-along to their patients, many of … Read More
POST OUTLINE 1) What we’ve learned. What it means for your 340B program. Overview of ProxsysRx 340B Team experience and successes Dealing with frequent, unexpected changes 2) Potential 340B developments for 2024 National legislation prospects State regulatory changes 3) Legislative & court updates Bill introduced into House Of Representatives Supreme Court overturns 340B restriction cuts … 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
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 21 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
