Pharmacies present an opportunity for health care organizations to get the most out of government and pharmaceutical company assistance programs. Ponaman Healthcare Consulting (PHC) understands that the goals of health care organizations play a part in whether they establish an internal pharmacy, or choose to outsource the inventorying and distribution of 340B medications to a contract pharmacy.
Our team works with entities and contract pharmacies to provide a benefit for all those involved, while expanding access to affordable medications to uninsured, underinsured and vulnerable patients.
Our goal is to help our clients either establish their own onsite pharmacies or select an established vendor to maintain inventory and properly distribute their 340B medications to a network of 340B preferred contracted pharmacies. We:
- Determine whether your patient population, cost savings, and revenue goals make your entity a good 340B Program candidate for a retail pharmacy program
- Analyze the benefits versus risk of internal versus outsourced pharmacy management
- Perform cost analyses to recognize the best opportunity for each client
- Investigate best in-class vendors, identifying the best one for each entity based on the size of the covered entity, patient population, and local pharmacy marketplace
- Develop the reporting infrastructure of in-house and/or contract pharmacies
- Assist in all phases of pharmacy program implementation
- Establish best-practice procedures to meet regulatory compliance while resulting in the greatest benefit to PHC’s clients
We work with local pharmacies, mom and pops as well as large corporate chains, to develop a cost-savings model to extend a hospital’s 340B Program benefits; the underlying goal always being improved access to affordable medications for patients while optimizing cost savings and new revenue streams for the covered entity. Our team:
- Collaborates with the hospital leadership team to identify potential pharmacy partners in the community based on existing relationships, current patient use patterns and desire to support the hospital’s need for ongoing reporting and regulatory compliance
- Researches contract pharmacies to identify best-in-class vendors based on critical success factors such as hours of operation, current capture rate of hospital patients, 340B experience, and other relevant factors to the hospital’s unique features
- Project manages 340B retail pharmacy program implementations
- Performs ongoing monitoring to ensure 340B Program benefits are realized in a timely, sustainable, regulatory compliant manner
- Establishes policies and procedures to ensure sustainable growth while maintaining a high level of regulatory compliance
If you are a 340B covered entity who is interested in establishing an internal pharmacy, engaging a contract pharmacy or exploring both options, we’re happy to help. Please email us at info @ ponamanhealthcareconsulting.com or call 480-421-9965.