340B covered entities are constantly seeking to maximize savings from their programs, often by expanding their network of contract pharmacies. Larger networks don’t always yield greater savings, however, especially if the contract pharmacies don’t have the support to successfully administer the 340B program at their level.
I struggled with this issue while working at a number of contract pharmacies. I had to fulfill the covered entity’s requirements, but I couldn’t get answers to questions about replenishments, invoicing, or other critical topics. I hesitated to undertake any savings opportunities a third-party administrator (TPA) would present to my pharmacy. When it came to 340B, I knew I was essentially on my own.
This scenario is all too common in the 340B world—I worked with more than a dozen TPAs, and time after time I couldn’t get the support I needed. It’s no wonder that unhappy pharmacy partners abandon their 340B relationships. Even one contract pharmacy termination can negatively impact a covered entity’s 340B savings.
A helping hand for contract pharmacies
These pharmacies need a liaison between them and the covered entity they’re contracted with, someone to answer questions about billing, inventory, retro reclassification, claims qualification, and a million other concerns. They need someone to provide training. In other words, they need the same level of support in managing the 340B program that covered entities require—support that is too often overlooked..
When I arrived at PSG, I knew that such support was vital. For example, a pharmacy that thought they were losing money wanted to leave the 340B program. We discussed the reason for their perceived loss of revenue, and they stayed. At the same time, I knew that I couldn’t provide this same level of assistance for the several hundred pharmacies that PSG works with on my own.
To better serve our covered entity clients and their contract pharmacies, we developed a robust Network Development and Pharmacy Support team. The team is comprised of pharmacy experts from the hospital, retail, and specialty settings who understand the needs of both CEs and pharmacies.
This support, which is a complimentary service for every PSG 340B Link client, helps covered entities expand their contract pharmacy network by:
PSG’s commitment to high-touch pharmacy support has led to:
Ready to optimize your 340B savings by expanding your contract pharmacy network? Trust PSG to support you and your pharmacy partners every step of the way; contact us for a consultation or download our Network Link overview below to learn more.