Caravan Health knows how to make the numbers work in accountable care, even when it comes to the 340B drug discount program. 340B has been a lifeline to safety net facilities – including federally qualified health centers, critical access hospitals and more – for more than 25 years. Our experts can help make the most of the program by expanding a covered entity’s use of contract pharmacies and referral claims to maximize discounts while maintaining strict compliance.
Learn more from our recent video explaining how it works.
A lot of 340B discounts are going unclaimed. Anywhere from 50% to 80% of Medicare Part D prescriptions are written outside of the covered entity and usually overlooked when it comes to getting those discounts. In fact, of the $1.3 billion of Part D prescriptions written on covered entity ACO patients, only 12% are processed today for 340B even though 80% could qualify.
Reviewing external prescriptions for eligibility can feel like searching for a needle in a haystack. Even with a patient-prescription match, there may not be adequate documentation or care management workflows in place to claim the prescription. ACO providers have a view into every prescription written on their attributed patients, including who wrote it and where it was filled. Together with our new software platform, Caravan Coach, our clients get the information they need to capture all eligible prescriptions.
Covered entities can increase 340B discounts by two-to five-fold in Medicare alone. This money can be used to expand services, provide patient discounts, fund waived charges, and offer other support activities.
Contact Caravan Health to learn more about why we lead the nation in accountable health care and 340B.