340B INDUSTRY LEADER SPOTLIGHT

Robert Ferraro, Chief Pharmacy Officer, Ravin Consultants

Robert Ferraro

Q: Where did you grow up?

I grew up in North Providence, Rhode Island. I moved to Sarasota, Florida after graduating pharmacy school.

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

I received my Doctor of Pharmacy degree from the University of Rhode Island. After working in various clinical and administrative positions, I discovered my passion for business and enrolled in the Executive MBA program at The University of Tennessee, where I received my MBA with a focus in Healthcare Leadership.

Q: Tell us about your favorites.

Food: Pizza, my specialty is making grilled pizza.

Movie: I love all the Marvel Movies; Iron Man is my favorite Avenger. The parent in me wants to say Moana.

Musicians: I enjoy any kind of up-beat music that I can dance (horribly) to.

Destination: One of my main goals in life is to travel. Narragansett, RI is very nostalgic for me and I try to visit every summer, but I’d like to visit as many places as possible. I visited Hawaii this past summer and it was stunning.

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

Much of my time away from work is spent with my two boys (6 and 9 years old). When I can find the time, I like to be outdoors; exploring new places, paddle boarding, hiking, or being at the beach are some of my favorite things to do. All of that being said, it also doesn’t take too much persuading for me to stay in and binge a show every now and again. I have also been learning to speak Italian.

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

Ravin Consultants partners with healthcare organizations serving vulnerable patients to realize a shared vision of delivering the best care possible to everyone. Our company heritage is 340B – we live it and breathe it all day, every day. Many 340B Consultants merely provide auditing services, but with us, you get so much more. We don’t just help establish eligibility and maintain on-going compliance. We build relationships and invest in our clients’ long-term growth and success. Every single one of our clients has realized 340B savings and our clients’ programs have received an average of 886% growth.

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

I initially was introduced to 340B through managing an on-site contract pharmacy. The pharmacy was located inside of a full-service community center, where patients would meet with case managers and prescribers as well as attend community events and group sessions. I was able to assist with and participate in so many amazing programs that benefitted the community, and a very large portion of it was funded through their 340B program. It warms my heart to see our clients succeed in fulfilling their missions and to witness all the good that comes out of their 340B programs.

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

I am constantly looking for opportunities to merge my pharmacy expertise with business principles. Doing so really allows covered entities to think differently about their programs and take them to the next level. Everyone in 340B knows at a high level that key metrics like capture rate and patient adherence are important but quantifying their importance through data analysis is not as easy. I have a strong affinity for solving these types of problems and doing so allows 340B entities to really thrive.

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

340B is very complex and ever changing. My best advice would be to stay as informed as possible. If only there were a publication available to keep 340B professionals up to date, maybe some kind of report.  Actually there is . . . 340B Report because it keeps me up to date on the latest news and developments.

 

To learn more about how Ravin Consultants can help you grow your 340B program, contact Rob at robert@ravinconsultants.com.

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