Expert Tip from Cervey

Asking your TPA for detailed impact reports on any proposed changes to your 340B program can provide valuable insights into your program, including financial performance, compliance risks, and operational efficiency. Understanding the impact of these changes can equip your organization to make informed decisions and proactively adjust your strategies to mitigate risks and maximize savings opportunities.

In addition to TPA impact reports, conducting internal analyses on any changes or updates to the program can provide further insights. Examining the financial and operational impacts of new regulatory requirements or shifts in patient demographics allows your organization to proactively adjust strategies. This can lead to more accurate budgeting, better resource allocation, and improved patient care outcomes. Utilizing data analytics tools provided by your TPA can help you automate these analyses, making it easier to track key performance indicators and make data-driven decisions.

Ultimately, the integration of collaborative review and impact analysis, along with leveraging TPA expertise, can lead to sustained improvements in efficiency, compliance, and overall program effectiveness. By fostering a culture of continuous improvement and leveraging the expertise of your TPA, your organization can maximize the benefits of the 340B program while ensuring compliance.