Extending 340B program savings
Here are key elements of the 340B Improvement Act of 2011:
- The act would extend 340B pharmacy benefits to in-patient drugs, which will help safety net providers save. It will also eliminate the need to keep two separate drug inventories for inpatients and outpatients, saving staff time.
- The orphan drug exclusion could be repealed, which would result in discounts to very costly drugs.
- It would extend drug cost savings for out- and in-patient to certain rural and children’s hospitals.
Whether this act passes or not, you’ll still be required to know how to manage your pharmacy to meet 340B requirements while minimizing the impact on precious staff time. In order to do this, we suggest:
- Reduce the number of pharmacy vendors and increase volume discounts from the vendors you retain.
- Eliminate redundant and inefficient processes in pharmacy operations.
- Communicate the new processes to key team members to ensure transparency and the best chance for staff compliance of the new process.