KANSAS CITY, Mo., May 5, 2021 – Caravan Health, Inc., the nation’s leading convener of accountable care organizations (ACO) with safety-net providers, today launched a new 340B application to help Covered Entities increase their 340B drug discounts as an added benefit of ACO participation. The 340B application is the newest addition to Caravan Coach, Caravan Health’s ACO management software built to drive successful nurse workflows and create meaningful improvements in cost and quality. Caravan Coach includes all Caravan Health programs, applications, content, and intellectual property that have resulted in industry-leading performance, including a first-of-its-kind 340B application.
Many safety-net ACO patients are seen by specialists with little or no connection to their primary care provider. Caravan’s 340B program helps care coordinators learn about these distant visits and manage their subsequent care and prescription medications, improving the quality of patient care and increasing 340B discounts. Caravan's proprietary 340B technology automatically prevents non-compliant referral claims from being validated while capturing the documentation needed to validate eligible prescriptions. It prompts care coordinators to review and document specialists’ diagnosis, plans of care, and prescriptions.
Through new data and workflows, Covered Entities in a Caravan Health ACO can more than double their 340B discounts while remaining compliant with Health Resources and Services Administration (HRSA) audit requirements. This helps to generate revenue without increasing risk – essential to the sustainability of the nation’s safety-net providers.
“Patients are at risk during transitions of care,” commented Caravan Health CMO, Dr. Ashok Roy. “Using Caravan Coach, we routinely find out about new conditions that are not on the problem list and new prescriptions that are not on the medication list. These are typically seriously ill patients who warrant immediate attention.”
According to Caravan Health President and CEO, Tim Gronniger, “In order to thrive in the ever-changing world of health care, providers and health systems must engage patients and increase their operational efficiencies. 340B compliance is a key component. We are committed to removing the obstacles to compliance so these discounts can be accessed and used to improve the quality of care. Our newly developed software helps safety-net providers maintain 340B compliance, so this will no longer be an obstacle to participation.”
The value of ACO participation is becoming increasingly obvious as safety-net providers and rural and urban-based health systems work to remain financially viable. Despite the COVID-19 pandemic, ACO participants and value-based care models out-performed the traditional, fee-for-service methodologies in 2020. Providers partnering with Caravan Health ACOs consistently lead the nation in performance measures and shared savings.
To learn more about Caravan Health ACOs and the software that is helping safety net providers make the most of the 340B Drug Discount Program, join us for a webinar on May 18. Register for the webinar here.
About Caravan Health:
Caravan Health is a privately held company formed to create a sustainable model for health systems to excel in value-based payment models. Today, Caravan Health’s team of more than 150 experts has supported more than 300 health systems with training, data, analytics, patient satisfaction surveys, and evidence-based medicine programs. Through its program of transparency and mutual accountability, Caravan Health has delivered more than 10 times the national average in real savings since 2015. In 2019 and 2020, Caravan Health partners earned $300 million in Medicare savings, over $120 million in shared savings and earned quality scores exceeding 94%. With Caravan Health, now the numbers work.
For more information visit www.caravanhealth.com.