340B Technology Solutions
Prime offers highly differentiated technical expertise within the 340B domain enabling you to build out solutions and manage your 340B programs seamlessly. Solutions we have built track 340B eligibility, inventory replenishment and audit compliance which enables covered entities to save on administration costs and effectively manage and administer the 340B program.
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.
How can we help build your solutions?
- Take pain out of managing contract pharmacy services by helping capture eligible 340B prescriptions for 340B drugs across multiple wholesaler contracts.
- Set up split billing to manage procurement and inventory replenishment in 340B eligible healthcare organizations.
- Identify eligible patients and support a variety of discount cards to qualifying patients and maintain 340B program integrity.
- Stay prepared for continued HRSA 340B compliance audits with automated auditing and support services.
- Facilitate creation of standard and customized reports for contract pharmacies to demonstrate the impact of the 340B program.
What are the typical 340B Program Challenges?
- HRSA regulatory compliance
- Inability to replenish inventory accurately
- Inferior 340B data quality standards
- Differing drug purchasing rules
- Unclear pricing methods and frequent price changes
- Medicare reimbursement rules misconceptions
- Safeguarding against drug diversion
- Limited physical space and complex operational processes
- A single platform solution designed to manage the end-to-end procurement cycle to help you track your drug activity from pill to procurement to patient to payment. The 340B system facilitates in-depth tracking of all your drug activity at the 11-digit NDC level for a comprehensive audit trail and helps gain new insights into your pharmacy operations.
- Find and fix pricing differences where there exists a mismatch between contracted price and invoice price or where the cost paid is greater than the national average for an NDC.
- Enable robust management of inventory and procurement across multiple ordering platforms, wholesaler accounts and pricing contracts.
- Identify and resolve unmapped revenue items to prevent lost revenue and positively impact your bottom line.
- Determine drug costs by monitoring the ratio of purchases to dispatch.
- Robust and customizable reporting helps you drill down into your data to draw out relevant insights.
- 100% audit compliance with built-in audit assistance from our audit support specialists.
- Engage automated decision processes guided by configuration options you choose based on your 340B program parameters.
- Get lower-cost alternatives and nominally-priced items based on the NDCs you typically order.
- Ready to Market Solution.
- Predict your drug spending based on historical data and what-if scenarios.
- Realize significant cost savings in the range of 50 60% over 3 years resulting from lower per claim processing costs.
- Provide covered entitles an automated inventory replenishment that ensures high availability of drugs at stores.
- Reduced pricing discrepancy avoids repeat processing of invoices (up to 99% accuracy).
- Effortlessly integrate with 3rd-party pharmacy software.
- Real-time invoice generation process.
340B Specific Technology
The File Ambassador solution is a file management tool that provides a mechanism for extracting data from external sources, transforming it into a normalized data format, and then loading it into an end target or repository.
Intelli-Q is a hybrid test automation framework specifically created for 340B automation that can quickly and easily adapt to your agile test processes. It supports wide range of scripting languages & an extensive object library.
Contact us today!