340B INDUSTRY LEADER SPOTLIGHT

Nick Gnadt, Director of Pharmacy Professional Services, SpendMend

Nick Gnadt

Q: Where did you grow up?

Slinger, Wisconsin.  It’s a small town north of Milwaukee.  If you’ve heard of it, it’s probably either because of Little Switzerland (small ski hill) or the Slinger Super Speedway (racetrack).

Q: Where did you go to college/graduate school?

I’m a Badger through and through – I went to undergraduate and Pharmacy School at UW-Madison.

Q: What are your favorites?

Food: Pie

Movie: National Lampoon’s Christmas Vacation

Musicians: I like an eclectic mix, and my favorites tend to come and go. Currently, my playlist suggests that OK Go, Bob Schneider, and Simon & Garfunkel are my favorites, but I don’t know that I would have predicted that.

Destination: Costa Rica

Q: What do you like to do outside of work?

I like to stay active and outside with my family – hiking, camping, running, biking, swimming, etc. But when I’m ready to relax, I’m happy to sit still too.  I’d like to tell you that it’s always reading, but there’s also plenty of garbage television time too.

Q: What kind of work does your company do in 340B and what makes it stand out?

SpendMend offers a variety of 340B services.  Our roots are in compliance and annual auditing, but we have an increasing number of services around 340B Optimization, Staff Augmentation, and Leadership Augmentation.  We also offer the Trulla software platform which helps our clients save 4-6% of their total drug spend by optimizing purchasing.

What makes us stand out are our people.  First, we all have hands-on 340B experience working at covered entities. Second, we are the largest 340B compliance team in the country, so we are always learning what is happening all around the country and sharing back to our clients.  Third, we are all passionate about 340B who deliver outstanding results while also managing to make the work enjoyable!

Q: Why did you choose to work in the 340B space?

I got started in 340B out of curiosity when my hospital first became eligible in 2012.  I was managing our outpatient pharmacy and had heard of 340B but knew nothing about it, so I volunteered to dive in.  A few months later I was able to use 340B to provide a patient with a free EpiPen and I saw firsthand the impact the program could have on patients’ lives.  It was that moment that made me realize the program is worth whatever hassles or headaches it takes to participate.  Whether it is as obvious as getting a free drug or simply having access to needed care, the program positively impacts millions and millions of patients.

Q: What do you feel is your most significant contribution to the 340B world or to a 340B customer/client?

I think my most significant contribution has been consistently advocating for 340B.  I was lucky enough to have support from my hospital’s leadership to attend most 340B Health Hill days and it certainly felt like persistence paid off.  Many of the offices came to recognize me and associate me with 340B. I was able to put a face on an obscure program and share some of the ways that patients and communities benefitted from the program.  Those examples are vital to countering the stories that drug manufacturers are sharing with the same offices.

Q: What advice do you have for a young professional who has recently launched a career in the 340B space?

My best advice for young professionals is to build your network. Pharmacy is a small world and 340B is even smaller.  But that small world requires a depth of knowledge that can be daunting to master.  Thankfully, the industry is full of brilliant people who really enjoy sharing their knowledge.  Don’t be afraid to reach out to others to ask questions/advice and plan to give back to the community once you have amassed enough knowledge to share.

 

For questions, can be reached at Nick can be reached at ngnadt@spendmend.com

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