FQHCs - Here’s How to Overcome Your 340B Program Challenges
Your 340B program is essential to your FQHC’s success. And you know what?
An optimized 340B program will help you stretch your dollars and increase your revenue.
Improving your 340B program savings will help you stay open and ensure vulnerable patients get the right care at the right time. Here’s the thing. Many FQHCs lack the technology and staff to improve their program.
It’s hard for FQHCs to avoid HRSA audit findings and increase their capture rates alone. An analysis at the 2020 340B Coalition Conference audit showed a rise in HRSA findings for FQHCs versus other covered entities.
Therefore, your FQHC needs a surefire 340B compliance and management solution in place.
Want to know how to overcome your FQHCs existing challenges?
Prevent Drug Diversion
Drug diversion occurs when non-340B eligible patients receive 340B drugs. It’s a common challenge for FQHCs.
An HRSA drug diversion violation can lead to:
Needing to repay manufacturer discounts
Paying interests on your discounts
And worse? Losing your 340B program status
Many FQHC patients receive drugs during office visits without a prescription...making it easy for drug diversion to happen. It’s also easy to overlook billing for 340B-eligible prescriptions, causing missed 340B savings opportunities.
Use innovative 340B compliance software to prevent human error and keep track of all 340B-eligible drugs.
Improve Capture Rate
FQHCs often have onsite pharmacies, so patients can pick up medications at their convenience. Many FQHCs also contract with community pharmacies. To give patients a choice whether to fill prescriptions on-site or at an outside pharmacy.
To improve your capture rate, your FQHC must track and manage 340B eligibility for both pharmacy types. You’ll need robust software to capture and optimize your 340B savings opportunities.
Include “Cash Plans”
Income analysis for every patient is a federal requirement for FQHCs. This info helps to increase access to affordable care for vulnerable patients through specific discounts.
“Cash plans” allow under insured or uninsured patients to pay for their drugs out-of-pocket.
Want an easier way to discover your patients’ out-of-pocket costs?
Powerful 340B management software can help. How? The software will calculate the exact amount each patient needs to pay based on income.
If your goals are to optimize 340B savings, maintain HRSA-compliant, and enhance patient care, we can help. Contact us today!