4 Tips to Protect Your 340B Program Benefits
As a covered entity, you must protect your 340B program from manufacturers attempting to reduce savings and eligibility. Here are four proactive steps you can take to protect your 340B program from manufacturers attempting to reduce savings and eligibility.
1. Strengthen data management practices.
Ensure accurate tracking of 340B purchases and maintain comprehensive records of drug utilization, particularly for contract pharmacies. This not only helps defend against manufacturer audits but also supports compliance, protecting your program from potential clawbacks.
2. Optimize contract pharmacy arrangements.
Regularly review your agreements with contract pharmacies to maximize savings while minimizing risk. Negotiate clear terms that safeguard your margins, especially given potential pricing shifts from manufacturers.
3. Diversify pharmaceutical procurement strategies.
Avoid over-reliance on specific drugs from manufacturers that are limiting 340B participation. Seek alternative sources when possible or explore therapeutic options that provide better savings without compromising patient care. Strengthen your in-house 340B capabilities to maximize savings and reduce vulnerabilities.
4. Engage in advocacy efforts.
Stay informed about industry trends and regulatory changes. Collaborate with trade groups, legal advisers, and 340B experts to navigate emerging manufacturer pressures and advocate for policies that protect the program’s integrity.
By implementing these strategies, you can better navigate the evolving landscape and safeguard your 340B savings amid increasing manufacturer pressures.
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