How Drug Manufacturer Restrictions And PBMs Undermine Hospitals’ 340B Savings And Outpatient-Pharmacy Margins

July 6, 2022340B, Contract Pharmacy, PBM, Prescription Discounts, Requirements, Retail / Outpatient Pharmacy

If you’re an eligible hospital with an existing 340B program, you know that your wholly-owned outpatient pharmacy is required to buy non-340B medications at Wholesale Acquisition Cost (WAC) — unless you’ve put it in an LLC, and registered it as a child site, or you’re a Critical Access Hospital, and exempt from the requirement. You’ve … 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 Meds To Beds Can Drive Your 340B Savings

February 11, 2022340B, Bedside Prescription Delivery, Contract Pharmacy, Covered Entities, Meds To Beds

Getting started with the 340B Program 340B savings can mean potentially millions of dollars in retail and specialty prescription reimbursements annually. Savings and revenue which, for some hospitals, literally make the difference between solvency and closure. The first step in preparing your health system for enrollment in the 340B program is to ensure that you’re … Read More

Are Your Contract Pharmacies Optimizing Your Hospital’s 340B Savings?

December 13, 2021340B, Contract Pharmacy

Contract pharmacies play a critical role in optimizing the potential savings and revenue that eligible hospitals can generate with a well-managed 340B program. They’re also an important extension of a 340B hospital’s overall care of, and for, its outpatients. Increasing the number of independent pharmacies serving as contract pharmacies enhances a hospital’s ability to offer … Read More

What is a 340B Contract Pharmacy?

November 22, 2021340B, Contract Pharmacy, Registration, Requirements

A 340B Contract Pharmacy is a retail entity that provides prescription drugs to patients of eligible entities under the 340B Drug Discount Program. Covered entities often choose contract pharmacies to dispense 340B drugs to patients for a number of reasons. Many hospitals, for instance, prefer their in-house or on-campus retail pharmacies to be operated independently. … Read More