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
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
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
Getting started with the 340B Program The first step in preparing your health system for enrollment in the 340B program is to ensure that you’re eligible to participate. If your hospital isn’t already registered, you might want to refer to our previous blog post, Are you ready to enroll in the 340B program? Why 340B … Read More
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
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
A 340B Contract Pharmacy is a retail entity that provides prescription drugs to patients of 340B-eligible covered entities under the 340B Drug Discount Program. To determine if your health system is 340B-eligible, visit the HRSA.gov site, or click here for our post — “Understanding The 340B Program Requirements.” According to a Fact Sheet by the … Read More
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 drug manufacturer restrictions, every one of the 13 health systems we … Read More
