Soundcast - Podcast Responsive Theme

340B: The Independent Pharmacy Perspective

340B: The Independent Pharmacy Perspective…What you always wished you’d known about the 340B Program Today we interview Eric Fromhart with 340B […]

">
April 18, 2017 Community Pharmacy, Institutional Pharmacy

340B: The Independent Pharmacy Perspective…What you always wished you’d known about the 340B Program

Today we interview Eric Fromhart with 340B consultancy leader Secure340B.

  • What is 340B?
    • Law enacted in 1992 required mftrs to offer discounts to certain eligible clinics and hospitals..
    • Contract Pharmacies—how pharmacies became involved with 340B
    • Review “assumptions” and the “old” way of doing 340B at a pharmacy and how it’s evolved
  • 340B Contract Pharmacy Mechanism
    • Inventory Flow explanation
    • Money Flow explanation
  • How does this impact independent pharmacies?
    • Inventory
    • Cash Flow
    • Rebates
    • DIR Fees
    • Retail gross margins
  • Recommendations
    • We believe 340B can be a great add-on to the pharmacy business. It just must be understood in order to be done right
    • Maximum profitability—“spread”
    • Minimal operational impact to work flow and existing operation
    • Be aware of flexibility
    • Pharmacies see the patients, received the inventory and hold the money—Pharmacy wield the power and control in the program and they need to recognize that

Eric Fromhart
Secure340B
971.322.4935
eric@secure340B.com
secure340B.com