If your hospital or health system is eligible to participate in the 340B program, you can obtain drugs at a reduced cost. These savings can be used to support your covered entities in your mission to expand care to underserved patients. Such a program can make a tremendous difference in the lives of patients with little or no health insurance.
Using a 340B program to expand your scope of patient care can also benefit your covered entity by increasing reimbursements and improving overall revenue. But program participation comes with complex regulatory and audit requirements that must be managed carefully to maintain compliance.
SpendMend Pharmacy leverages Turnkey Pharmacy Solution’s decades of 340B experience to simplify and help support the compliance, optimization and growth of your hospital’s 340B program - so you can focus on patient care.
SpendMend Pharmacy 340B Compliance
SpendMend Pharmacy leverages the significant experience of Turnkey Pharmacy Solutions to provide external 340B program audits and to assist with regulatory oversight. Our recommendation is to have your 340B program reviewed and audited prior to receiving an audit engagement letter from HRSA (or other stakeholders including CMS, manufacturers, etc.)
As part of our auditing process, we mimic the HRSA audit to see how you would do if you were facing an actual audit while also performing comprehensive gap analysis of your 340B program.
340B Annual Independent Audit
340B Maintenance Services
340B Management Services
SpendMend's innovative process appears to leave no stone unturned and has identified and recovered significant dollars.
The SpendMend Client Portal allows me to review claims whenever I want – 24 hours a day – on my schedule; and without receiving stacks of paper, which makes the distance between our offices no problem
Not only did failures in a previous audit firm’s process result in lower recovery, but also some of the ‘claimed’ recovery dollars had to be paid back to vendors due to rejections. SpendMend has worked with vendors to ensure accurate, valid, approved claims; with better results.
SpendMend is a non-intrusive asset and great to work with; they build relationships with their clients and truly understand the Procure-to-Pay process.
If our team is finding money from recovery audits then I know there are many other non-profit hospital systems that would find value in executing this work as well.
I think the SpendMend staff is top notch and very professional and very knowledgeable. I work hand in hand with your people and I think you have great people and a great culture.
SpendMend Pharmacy leverages Turnkey Pharmacy Solution to offer 340B optimization & growth services to help your hospital identify opportunities sooner and more frequently in order to maximize savings on your drug purchases in a compliant manner while also providing ongoing education, consultation and collaboration.