It is my pleasure to introduce our company to 340B Report’s readers. RxPreferred Benefits is a fully transparent 340B Administrator and Pharmacy Benefit Manager (PBM) founded, and solely owned, by independent pharmacy representatives. Privately held and headquartered in Nashville, TN, RxPreferred operates nationally, partnering with a wide range of clients including: 340B covered entities, self-funded employers, hospitals, health systems, hospices, pharmacies, brokers, and third-party administrators.
Large traditional PBMs and Administrators are riddled with conflicts of interest. Spread-pricing, rebate and manufacturer steerage, and mail-order/specialty pharmacy ownership are just a few of the reasons they make misaligned decisions. At RxPreferred, we build collaborative partnerships and are committed to your success through our zero conflict-of-interest strategies. This approach is integrated into our bylaws as an organization and promotes complete alignment with plan sponsors. By being void of any vertical integration, we manage pharmacy benefits and administer plans with a clear vision and unbiased perspective.
RxPreferred works with covered entities and contract pharmacies of all kinds, all over the country to have a positive impact in their local community and build long-standing, efficient programs. Our experienced and innovative 340B team creates custom programs for each entity to maximize opportunity and effectively reinvest their savings.
We focus on four key areas:
- Contract Pharmacy: Our user-friendly platform and a team of Apexus Certified Experts (ACEs) connects you to independent pharmacies, chains, and specialty pharmacies to build-out a comprehensive program. With customized compliance reports, multiple dispensing fees and admin fee structures, and managed FFS and MCO carve-in models, RxPreferred has all the tools and resources to put your program in a position to be successful.
- Referral Capture: The RxPreferred referral capture process is centered around compliance and tracking. We help identify referral care gaps, improve clinical care with necessary consult notes, and capture previously unqualified claims.
- Program Management: We offer a proactive management solution and assist you with compliance oversight, support during HRSA audits, and policy/procedure review. A dedicated Account Manager and Support Team will keep an open line of communication to help with the complexities of a 340B program, identify continuous improvement opportunities, and will take a deep dive into your program with you during quarterly and annual reviews.
- Customization: RxPreferred does not dictate dispensing fees, plan design, or 340B wholesalers. Each program is uniquely designed to be a successful solution in alignment with your goals.
We have a 100% HRSA audit pass rate and have developed long-standing relationships with many of the country’s top programs.
We recognize that without the 340B program, many clinics and hospitals would not be able to serve the vulnerable patients that they do today. This responsibility is essential to us, and as a transparent administrator, RxPreferred is proud to be part of the solution.
Jeff Malone is President and CEO of RxPreferred Benefits