Understanding the 340B Program

The 340B Drug Discount Program is a US federal program that requires drug manufacturers to provide outpatient drugs at significantly reduced prices to qualifying covered entities. This allows the covered entities to stretch scarce federal dollars, reach more eligible patients including the under-insured and uninsured and provide comprehensive services to the most financially vulnerable in our society.

Compliant & Audit Ready

The Health Resources and Services Administration (HRSA) oversees the 340B program, ensuring covered entities and manufacturers remain compliant with the various rules and regulations by conducting regular audits to identify discrepancies relating to virtual inventory, duplicate discounts, drug diversion, account reconciliation, and more. While HRSA functions as the regulatory agency for the 340B Program, the responsibility for implementation of the program relies on a coordinated effort between covered entities, pharmacies, manufacturers, administrators, and wholesalers.

The 340Best Advantage

340Best understands the complexities, challenges and nuances of the 340B Program. Our expertise coupled with our proprietary software—InfoPoint®—aids stakeholders in establishing a viable and successful 340B Program. As a result, our clients are better able to serve their communities while ensuring HRSA regulation compliance.

The 340Best approach includes:

An assessment of your current program—including use of other third-party administrators—conducted by our team of 340B experts;
Clearly defined next steps to address recommended program adjustments, and;
When requested, integration of our InfoPoint platform for administration and compliance services.

Our implementations are conducted with benchmark speed and precision and include six fundamental stages:

A secure cloud-based platform

340Best’s InfoPoint® platform is a state-of-the-art, secure, cloud-based system capable of automating complex processes and time-consuming tasks required to manage a total 340B program as well as generating precise results in real time. InfoPoint was built by expert technologists with extensive experience in the healthcare industry who were seeking a way to modernize the 340B administrator experience. Launched more than 10 years ago, the platform has since proven to deliver on its promise, standing as the industry’s most robust platform capable of in-depth analytics, audit and compliance reporting, and easy program management — all within a secure, HIPAA-compliant environment. Rest assured that 340Best is committed to providing the informed edge necessary to simplify and optimize your program. New to the 340B program? Our team will work with you to implement a comprehensive, successful, and bespoke program to meet your needs. Visit our Services Section to learn more.