Faster 340B Go-to-Market Solutions and Lower Costs with Predictive Data Analytics
Contract Pharmacy Line-of-business managers often have to wait too long to get the information they need to make better decisions. Why?
Contract Pharmacy is overwhelmed with new and existing projects and processes. There’s a backlog of generating Invoices, compliance reports, YTD reports, Replenishment, and Inventory Sync up processes. Each process takes too long to understand, let alone implement. To get the information they need, pharmacy technology analysts create one-off reports, spreadsheets—even applications—themselves. But doing so creates multiple versions of the data. IT loses control over the 340B streamlining process, and data governance and 340B compliance may be compromised.
The Cloud 340B Inventory Module Option empowers the pharmacy Procurement team to perform effective management of procurement and inventory across multiple ordering platforms while the Pharmacy IT Manager retains control of the overall data integration process.
The Cloud 340B Inventory Module Option enables the procurement team and finance team to work more efficiently together and respond much faster to 340B business needs. They can able to locate and address pricing discrepancies where the contracted price and invoice price don’t match — or where the price you paid is higher than the national average for an NDC. UsingIntuitive Pricing Module, pharmacy managers can able to detect drug costs by monitoring the ratio of purchases to dispatch. Out of the box Drug Cost, Monitor Report helps to Identify pricing discrepancies and track resolution.
Key features
Self-Service BI Implementation
Our product comes with a Data Warehouse Environment Delivery and an intuitive Web-based user interface that empowers pharmacy business analysts to perform basic predictive analytics tasks. It serves as the enterprise repository for its 340B HRSA’s data and makes that data available to all and optionally available to its customers. The data warehouse integrates this data with external sources, such as theQS1/CPR Plus Pharmacy Software and Switch Provider enabling users to gather relevant and meaningful information about 340B Drug Pricing programs and the populations they serve.
The Data Warehouse environment helps users explore, interact with, and share data by allowing them to:
- Access preformatted charts, maps, and reports of 340B and revenue
- Compare summary 340B data by key program or geographic
- Connect to 340B data from third-party applications through map and web
- Create custom maps and
- Download data for research and analysis.
- Embed widgets on 340B BI and Dashboard website to provide access to its
- Interact with and export data in a variety of
- Capture Revenue flow historically and potentially able to identify the revenue loss and
- Identify potential business opportunities in other geo-locations within the United States.
Key Benefits
Deliver 340B Projects faster
This option helps IT teams deliver projects faster. Analysts can rapidly create data mapping specifications for 340B switch provider, Specialty pharmacy software such as QS1, CPR Plus, business intelligence, data warehousing without help from IT. Our delivery model shortens 340B build cycles where a pharmacy or a Covered Entity IT developer may need to modify the data mapping for more complex scenarios.
RCTECH Excellent Strategic Partner
Our commitment to being the strategic partner to successfully roll out the RCTECH 340B compliance Administrator and help you achieve a higher level of automation, efficiencies, reduce your cost of operations and increase patient adherence rates. In addition to this, we will bring our rich experience in Data Quality, Data Integration, Master Data Management, and Data security domains.
Improve 340B Data Accuracy and Governance
Our software ensures that 340B automation and administration are done right the first time. Automation reduces the chance of human errors. Contract Pharmacies or Covered Entities can focus more on value-added tasks and remain in control of 340b governance and compliance. As a SaaS (software as a service) provider, we manage all updates and upgrades. Hence there are no patches for customers to download or install. In addition, there is no need for customers to add hardware or software.