What is the biggest challenge facing healthcare organizations participating in 340B program? For most covered entities and retail pharmacies organizations, it’s getting things done on time using their legacy and point solutions, which are often reactive and standalone. This challenge only increases with the ever increasing compliance requirements.
Maximize your 340B drug pricing program with software and technology that help you dispense prescription drugs to eligible patients at a lower cost.
When most companies participate in 340B program, they do so with one thing in mind. To stretch scarce federal resources as far as possible, reaching more eligible patients and providing more comprehensive services.
However, just like anything in life, a drug discount program requires proper planning because every business is unique and requires unique solutions. Only then can it deliver the expected results. When companies skip these steps to save time or energy, their discount program may not reap benefits to its full potential.
At first existing approach was helpful to keep track of how prescription drugs were made available to eligible patients. But when patient lists grow, it becomes more difficult to keep track of who is availing discounts, how to prevent duplicate discounts to ensure 340B program integrity.
Set up split billing to manage procurement, inventory and replenishment in 340B eligible healthcare organizations.
Your team is struggling with split-billing
Does your team complain about problems they are facing with split-billing or have trouble using it? If the answer’s yes, then you’ve got a problem with maintaining program integrity.
Problems with older spilt billing solutions should be taken very seriously as this will prevent you getting full value from 340B program. Â Though existing solutions work for split billing but they are not enough when it comes to complying with compliance requirements.
Managing split billing can be complex and difficult. Many companies face these challenges because they may have deployed older software solutions that were not built for 340B compliance. These point solutions are working enough but, it’s not enough to accelerate better business outcomes and guide companies along their compliance journey.
340B program offers healthcare businesses tremendous opportunities, but they must figure out how to best capitalize on the benefits.
As your company navigates through the complex 340B compliance journey, managing activities including eligibility, inventory, replenishment and audit compliance is a common impediment. How confident are you in your organization’s ability to manage your 340B programs seamlessly. Despite strong focus, many organizations do not believe their software solutions can save on administration costs and effectively manage and administer the 340B program. Fortunately this is easy to achieve with the right set of tools and strategy.
Prime offers highly differentiated technical expertise within the 340B domain enabling you to build out solutions and manage your 340B programs seamlessly.
Prime has over 15 years’ experience in building and maintaining 340B solutions and has worked with many TPAs building and maintaining Contract Pharmacy, Split Billing, Discount Cards, 340B Audit Systems and other core functions, enabling TPAs to be nimble, competitive and flexible in the 340B space.
