Introduction
If you are looking for a robust and cost-effective way to manage your 340B program, Cloud 340B is the perfect solution for you. Cloud 340B is a full-featured platform that runs in the cloud and gives you an all-in-one solution to improve the overall effectiveness of your 340B program.
What is 340B?
Through the 340B Drug Discount Program, some covered entities can buy drugs for outpatients at lower prices. The Health Resources and Services Administration (HRSA Get Health Care | https://www.hrsa.gov/get-health-care) is in charge of the program. It began in 1992. It provides access to discounted drugs to those who are uninsured or underinsured and to those who can’t pay for their medication.
Disjointed Business Units
The main problem with a 340B program is that it is run by different business units that need to work better together. This makes it hard to figure out how much money will come in and stop discounts from being given twice, which wastes time and money. A unified system is needed to keep drugs stocked and send old ones back to the company that made them.
Cloud 340B
Cloud 340B is an innovative platform that runs in the cloud and gives you a complete way to improve the efficiency and effectiveness of your 340B program. Cloud 340B is a tailored product to meet the needs of your business, and it makes your 340B program 100% HRSA compliant. It provides significant cost savings of 60 to 70% and offers role-based authentication. It also helps you get back any lost money and connect all your business units, so you can see how much each contract pharmacy makes from 340B.
The platform can automatically order more drugs and send back medicines that have run out. This saves both time and money. It is also able to forecast revenue accurately and prevent duplicate discounts, allowing you to save even more money.
Conclusion
As you can see, cloud 340B is an excellent solution for managing your 340B program. It provides significant cost savings, is 100% HRSA compliant, and helps to recoup all lost revenue. It also helps to integrate all business units, allowing you to see the revenue for all contract pharmacies. If you are looking for a demo to learn how to manage your 340B program, cloud 340B is the perfect solution. click here to set up a demo.