By Rob Nahoopii, SVP of Pharmacy Services
The famous Greek philosopher Aristotle is believed to have written over 2,000 works during his lifetime, including influential texts on philosophy, science, and ethics.
2,000 works… can you believe it?
Last week we announced the completion of our 2,000th 340B Program Compliance Audit. As we reflect on and celebrate our milestone, I am reminded of where this journey began. I recall the early days of Turnkey Pharmacy Solutions well before we were acquired by SpendMend in 2020. At that time, my co-founders Rich Bucher, Rich Iverson and I had a vision to help healthcare providers better serve their patients through the 340B Program. To start the company, I was compelled to leave my dream job at Intermountain Healthcare. It was a risk, and I was terrified, and my wife was my rock, supporting me through the process, but we all believed in the cause. We believed that every patient deserved access to the medications and services they needed, regardless of their socioeconomic status. We still believe that today.
Over the years, we have worked tirelessly to ensure that our Covered Entity clients meet all the necessary requirements and regulations of this vital program. I am proud the say that along the way, we’ve been joined on our journey by some of the most dedicated and talented professionals in the pharmacy industry. I marvel every day at the level of talent and genuine empathy demonstrated by our staff and partners to ensure that disadvantaged patient communities can have the medications they so desperately depend on to live healthy fulfilling lives.
Collectively, we’ve had the pleasure of working with over 600 Covered Entity clients, helping them to optimize their 340B Program operations and drive efficiencies and cost-savings. And we’re proud to have completed 2,000 audits, providing peace of mind to our clients, and ensuring that the program is being used as it was intended. We can only guess, but we estimate that our efforts have helped tens of millions of patients.
But what does the future hold for the 340B Program? Recent efforts by some manufacturers to restrict 340B pricing in contract pharmacies has pulled more drugs out of the 340B program, which has created a sense of fear and uncertainty in the 340B community. There are recommendations making their way through Congress right now that could make life-saving drugs effectively unavailable through 340B discounts to large swaths of our patient communities. It’s more important than ever that we do all we can to support underserved patients and ensure they have access to the medications and services they need. It is with this in mind that we look ahead to the next 2,000 340B Program compliance audits. We know our work is more important than ever to ensure the long-term viability of the 340B Program.
As we reflect on the past ten years and look ahead to the future, we know that we still have much work to do. We are committed to continuing to help our clients navigate the complex landscape of the 340B Program, advocating for patients, and ensuring that the program is used effectively and efficiently. With the support of our clients, partners, and colleagues, we can drive positive change and improve healthcare outcomes for all.
So, in summary, maybe I’ll never live up to Aristotle’s 2,000 great works as a world-famous philosopher, but I do think that our 2,000th audit may qualify me, on some level, as an above average “Pill-osopher.” And that’s good enough for me.
Mahalo and stay healthy,