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 more comprehensive services to the most financially vulnerable in society. These covered entities range from hospitals and health centers to Ryan White grantees and specialized clinics.
Health Resources and Services Administration (HRSA) oversees the 340B program, ensuring covered entities remain compliant with the program’s various rules and regulations. They conduct regular audits looking for discrepancies relating to virtual inventory, HIPAA compliance, unmatched patient claims, accounts reconciliation, applied discounts, 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 key stakeholders in establishing a viable and successful 340B Program. Our clients maximize serving their communities, while remaining compliant with HRSA regulations. The 340Best approach includes an assessment of the entity’s current program (including use of other third-party administrators); recommendations for program adjustments, and, when requested, integration of our InfoPoint platform for administration and compliance services access. New to the 340B program? Our team will work with you to implement a successful program right from the beginning.
Our implementations are conducted with benchmark speed and precision and include six fundamental stages.
Visit our Services Section and be rest assured that 340Best is committed to giving you the informative edge needed to simplify and optimize your program.