When structured correctly, the 340B Program is an incredible way for healthcare providers in communities to come together to better serve their mutual patients, benefit your businesses and keep dollars local. When not set up correctly, it can have negative consequences. It is imperative the contract is set up well from the beginning in order to ensure longevity and sustainability.
Pharmacies may only participate in 340B by contracting with an eligible 340B facility. Visit the 340B database to search for potential opportunities in your area.
Covered Entities looking to add or expand their Contract Pharmacy reach should inquire on our contact page for more information and to begin data discovery. We have extensive knowledge and experience in determining which pharmacies are beneficial and how to structure the arrangement.
There is flexibility for 340B Contract Pharmacy arrangements. Looking at the program as a whole, there are a variety of ways contracts can be structured and optimized to be more efficient and beneficial for both Pharmacies and Covered Entities. Data and modeling are the keys to determining where the balance lies. That is precisely why Secure340B is an important tool for objective analysis.
DIR fees have a direct negative impact on contract pharmacies in 340B (chain, independent and specialty) and they must be accounted for. Our DIRDefense tool analyzes the impact so DIR fees can be addressed in an objective, fair manner.
Inventory is a pharmacy’s largest expense and the number one factor in managing cash flow. 340B can negatively impact a pharmacy financially if inventory isn’t managed correctly. It is important to use the tools available to assist and prevent duplicate ordering or excess inventory (swell). It is also important to take an in-depth look at your program to evaluate if there are ways to lessen the inventory burden from 340B.”
340B Programs move drug purchases from a pharmacy retail wholesaler account to the Covered Entity 340B account. There is no question this has an impact on pharmacy wholesaler rebates. It is important to take an in-depth look at your program to evaluate if there are ways to reduce the impact on wholesaler rebates.
Often, when you add in administrator fees, dispensing fees and costs of medications, Covered Entities may be losing money. At Secure340B, we can provide a clear and complete picture of net impact to the CE and make recommendations for optimization and best practices.
340B Administrators provide direction but ultimately leave it up to the CE to determine how claims qualify. Due to the complexity, this can be difficult and claims could be missed that should qualify. We review claims data to ensure all the rules are set up correctly and qualifications are compliant and also not being missed.