GRAND RAPIDS, Mich., June 17, 2021 (Newswire.com) – SpendMend, the leading provider of tech-enabled solutions to optimize the cost-cycle for the healthcare industry, announced today a new service to offer provisional 340B program experts to covered entities aimed at maintaining compliance with HRSA standards, as well as other external 340B-compliance demands.
Participation in the 340B program is critical for hospitals in areas with uninsured and underinsured patient populations. While the 340B program can bring in much-needed savings to covered entities, the program has complex regulatory demands that must be closely monitored to ensure compliance.
SpendMend Pharmacy, created in August 2020 with the acquisition of Turnkey Pharmacy Solutions, specializes in compliance, optimization, and growth services for 340B-covered entities and non-340B pharmacies across the U.S.
The introduction of Staff Augmentation allows covered entities to take on a provisional expert to help ensure 340B compliance. SpendMend Pharmacy staff members can help covered entities with daily, weekly, and monthly tasks that require 340B expertise and time. Staff Augmentation can help covered entities who need immediate expertise on their team when covered entity staff are on extended leave, when key positions are vacant or hard to fill, and when new positions are filled but no one is available to train for key 340B activities.
“Using a SpendMend/Turnkey expert on staff to help manage all of our 340B-compliance tasks was a no-brainer,” states B.J. Ott, CEO, Community Clinic of Maui. “It’s cheaper, faster and easier than adding staff. And the audit experience and monthly summaries make it a breeze.”
“Our aim is to offer immediate expertise to covered entities who face potential non-compliance with 340B Program rules,” offers Rob Nahoopii, Senior Vice President of SpendMend Pharmacy. “Our first recommendation is always to hire an expert and keep them on staff, but for covered entities facing budget shortfalls and short time horizons, we are proud to provide a solution that ramps up quickly for as long as needed.”
SpendMend is the leading provider of tech-enabled, cost-savings solutions in the healthcare industry. Combining the use of data, proprietary technology, and rigorous analytics with its healthcare focus and expertise, SpendMend partners with healthcare networks to improve and optimize their costs in meaningful and collaborative ways. SpendMend’s mission is to help its customers improve their patient care through innovative cost-savings solutions.