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TIP: Improve capture rates to reach your full 340B savings potential.
From changing compliance mandates to the manufacturer restrictions that began in 2020 that limit access to contract pharmacy arrangements, covered entities are faced with increasing complexity when it comes to administering a successful 340B program and reaching their full 340B savings potential.
It’s more important than ever to identify opportunities to optimize your 340B program performance. Tracking and increasing capture rates is one best practice that can help ensure both financial and operational optimization.
A great place to start is with an in-depth analysis of your organization’s 340B eligible prescriptions to understand current patient and employee capture rates.
Here are three ways you can facilitate engagement and increase capture rates in your covered entity:
- Explore ways for employees to utilize the services provided in your organization. This could look like reducing co-pays for medical services, reducing prescription co-pays at your in-house pharmacy, or offering medication management services and point of care testing to employees. We’ve also seen organizations offer payroll deductions at their in-house pharmacies to support their staff with a seamless, contactless pharmacy experience.
- Consider new ways of engaging patients. Integrating pharmacists into multidisciplinary care teams can drive patient engagement. Monitoring medication adherence and tracking the therapeutic effects of medications can improve the quality of care and clinical outcomes.
- Explore a home or office delivery service. Convenient fulfillment options could play a large part in increasing capture rates. Offering a home or office delivery service can reduce wait times and promote adherence as patients can receive their medications and additional refills without having to visit the pharmacy.
Partnering for success
As the 340B landscape continues to evolve, the right partner can help you navigate the changes and complexity.
At Maxor, we help covered entities maximize 340B savings and unlock pharmacy value. We are a partner who supports your mission as you deliver vital healthcare services in your community.
Learn how our expert team can help optimize your 340B program and grow your specialty pharmacy with a comprehensive data assessment.
Jason Atlas is Senior Vice President, Pharmacy Operations at Maxor. He can be reached at jtatlas@maxor.com
