What is ELEVATE340B?
A group of professionals with detailed knowledge of 340B and pharmacy purchasing. We came together because 340B covered entities face numerous challenges in controlling WAC, GPO, and Orphan drug spending. Through our team’s more than 500 annual 340B compliance audits we have conducted over the years, we often identify opportunities to improve savings in drug purchasing for our clients. The purpose of this service is to identify those opportunities sooner and more frequently in order to optimize savings on your drug purchases in a compliant manner. Services could include:
- Minimizing WAC/GPO spend
- Minimizing Orphan Drug Exclusion impact (where necessary)
- Creating hospital outpatient departments
- Creating Pharmacotherapy Clinics
- Maximizing contract pharmacy network and existing claims
- Accessing 340B prices for Limited Distribution Drugs (LDD)
- Verify most up to date 340B pricing is utilized
- Medication waste optimization
- Non-340B contracting optimization
What is the fee for this service?
We offer this service under a performance based pricing structure, meaning ELEVATE340B is paid a percentage of the savings/optimization value we bring to your organization. If no findings are presented and realized, there will be no fee.
What time and/or resources must I dedicate to this?
Our experience has been that most covered entities do not have the time and resources to research these discounts on their own, which is the purpose of this service. From a resource standpoint, we will need to obtain an initial data set, and ongoing monthly data. We will bear the majority of the time and assistance looking at specific drugs that arise through our work. We will work to limit time needed from you and your staff.
How do you know opportunities exist?
We can’t conclusively say that opportunities exist until we analyze your covered entity data, but in reviewing consistent trends with covered entity clients we find that most 340B programs are not fully optimized, and opportunities for improvement exist.
How are you paid?
The benefit to this service is that we are reviewing historical data to find savings opportunities that may be available, which have not been utilized on prior purchases. Under this “no risk” performance based fee arrangement, we are not paid until you recognize savings previously purchase drugs. To the extent you receive the discounted price on future purchases of these drugs based on our service, we are also paid for a 12-month period of time from the date the discounted price is brought to your attention, such that the savings opportunity is ongoing and recognized.
What is the term/length of the engagement?
We are typically engaged under an initial one-year initial term to review monthly purchasing data for missed savings opportunities. At the conclusion of the initial one-year term, the contract can renew monthly, but either party may terminate with or without cause.
Sometimes you need more information . . .
Please feel free to shoot us a message > “Contact Us”