If you’re a hospital, health system, clinic, or grantee that is eligible to participate in the 340B program, you can obtain drugs at a reduced cost. These savings can be used to support your mission to expand care to under-served patients and communities. However, 340B program participation comes with complex regulatory and audit requirements that must be managed carefully to maintain compliance.
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.
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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 annually. Let our expert team support you with HRSA audits and assist you with notices from CMS and/or manufacturers, while also providing you with corrective action planning.
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 a comprehensive gap analysis of your 340B program.
SpendMend Pharmacy offers 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.
We start with an in-depth assessment of your environment and tailor our services to your specific needs with a combination of annual audits, monthly consulting, ongoing maintenance and customized strategies for program optimization and growth. To begin the project, we work with you to help you to pull your initial data set. We perform all our work with the goal of limiting the time required from you and your staff.
Our audit and compliance pricing is based on the complexity and size of your facility as well as the scope of your contract pharmacy utilization. Program optimization and growth solutions are risk free and performance based with our fee calculated from your realized savings, only.
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.