Outsourced Program Management: Giving Your 340B Program the Attention It Deserves
According to the U.S. Bureau of Labor Statistics, over 47 million Americans voluntarily quit their jobs in 2021 after societal shifts and pandemic-related changes, becoming a phenomenon known as The Great Resignation. In the healthcare industry, this movement impacted many hospital and pharmacy organizations as they began struggling with retaining qualified employees and battled rising drug prices. But how does all of this relate to Outsourced Program Management?
Healthcare leaders sometimes hesitate to outsource 340B program management due to fears of surrendering control to a third-party administrator, but this is far from the reality of choosing to partner with Assent. We work alongside you, acting as a continued extension of your program while helping you maintain compliance and optimally run your 340B program.
What are Outsourced 340B Management Services?
Assent’s outsourced management services are for those who are not yet able to operate a well-functioning 340B program but still wish to add one to their network. Assent currently engages five covered entities ranging from small FQHC’s to large health centers with 200+ pharmacies. Our experts act as 340B coordinators for your organization, assisting with running your 340B program while tailoring services specifically for your needs.
These services include:
Program coordination: We provide an internal and external 340B liaison, serving as the subject matter expert at your service.
340B registration: We assist with reminders regarding covered entity 340B registration, contract pharmacy registration and OPAIS database accuracy.
Policy and procedure: Since the industry is ever-changing, Assent reviews/develops policies and procedures and performs updates, while also keeping abreast of industry changes.
Program compliance: We’ll conduct internal audits, maintain oversight of third-party relationships, lead a 340B oversight committee, act as audit liaison, and provide staff education.
Program optimization: The benefits of a well-functioning 340B program are extensive, so Assent helps you optimize program savings and communicate those savings to leadership.
Reporting: To keep information organized and clearly presented, we assist with financial reporting, metric reporting, scorecards and variance analysis.
Inventory and formulary management: As another organizational resource, we oversee inventory practices and pricing exclusions.
TPA Software Maintenance: To keep your program evolving, Assent identifies areas of improvement.340B contract management: We know that contract management can be stressful. That’s why we manage contracting with contract pharmacies, evaluate future contracting opportunities and ensure contract optimization.
Why Does My Covered Entity Need Outsourced Program Management?
Identifying and sustaining 340B program experts in day-to-day management can be challenging for Covered Entities, but it doesn’t need to stay this way. If your organization struggles to recruit and retain staff that can maintain and grow your 340B program internally, utilization of outsourced management may be crucial to the success of your program. Compliance and audit needs are a consistent need in the 340B industry, and will remain factors that continually require analysis and recommendation. Outsourced management services can grant your covered entity a level of quality, expertise and security that is typically impossible to obtain on one’s own efforts.
How Do I Get Started?
Share your compliance concerns, we’ll deliver solutions.
Contact our team today.