Unlike other "overlay" companies, Wilco Data understands that confusion related to fundamental 340B operation can be
strenuous and taxing to both the covered entity and the contract pharmacy. It's very easy for both parties to feel "undercompensated" when the financial gain to both parties is so heavily propagated in the marketplace. The entity will always know the exact dispense fee paid to every contracted pharmacy. Additionally, data will contain financial information that shows where every dollar was generated, how much was paid back to the pharmacy, how much was paid out for 340B medication purchases, and the net amount remaining for the entity.
Labor costs, overhead, and compliance monitoring expenses can all be reduced by allowing Wilco Data to be a turn-key solution to 340B operations and remove the disconnect that exists between the covered entity and the contract pharmacy. Entities will not simply receive emails and faxes full of confusing numbers and information, but will receive data which is easy to interpret and the support of a Wilco Data team member who will guide you through the meaning of the information which you receive. Additionally, our Quarterly Performance Report provides you with a comprehensive program overview unlike any other available in the marketplace. Wilco Data’s commitment to ensuring a successful program operation is unparalleled.
To our knowledge, there is no overlay which works directly with the pharmacy to increase efficiency and reduce costs for both the entity and the pharmacy. Typically, pharmacies that have their own 340B monitoring programs do not change ordering habits based on program participation because it’s not to their benefit. As an entity, have you noticed that based on volume you should have received a significant amount of money only to have it disappear when correction time arrives and the pharmacies keep extra money to account for the “true-up”, or the adjustment for non-dispensed full bottle quantities? By understanding distribution costs, controlling ordering for the pharmacies we manage, and interpreting and utilizing the data we collect, Wilco Data can significantly reduce loss to non-dispensed full bottle quantities and true-up expenses.
Change is always difficult and implementing any new program is always challenging. Combine that with trying to establish contract business relationships with independently owned entities and increasing federal regulation and oversight, and the desire to participate in any potentially beneficial program can completely disappear. Wilco Data was created with a multi-disciplinary approach in mind. If the providers, pharmacies, and wholesalers can work together to build a mutually beneficial relationship, then the ultimate winner is the beneficiary for whom we all exist- The Patient! If you’re interested in changing the way you provide patient-centered healthcare in your community, Wilco Data would be honored to be your partner in this endeavor. Please feel free to click on the link below. We’re looking forward to hearing from you!
First, Wilco Data stands by its name: our goal is to make sure both entity and pharmacy WILL COMPLY with all federal regulations related to the 340B program. We can provide both parties with policies and procedures manuals, dispensing reports, prescriber specific prescription data, and a multitude of other reports and documentation that will be helpful during a HRSA/OPA audit.
HRSA does not specify how participants should implement the 340B Program. As long as participants comply with all 340B Program requirements, they have flexibility in implementing the 340B Program.
Most covered entities choose one or more of the following options:
In-House Pharmacy, in which the covered entity owns drugs, pharmacy and license; purchases drugs; is fiscally responsible for the pharmacy; and pays pharmacy staff.
Contract Pharmacy Services, in which the covered entity owns drugs; purchases drugs; pays (or arranges for patients to pay) dispensing fees to one or more contract pharmacies; and contracts with pharmacy to provide pharmacy services.
Provider/In-House Dispensing, in which the covered entity owns drugs; employs providers licensed in the state to dispense; holds a license for dispensing for the participating providers; and is fiscally responsible for operating and dispensing costs.
Alternative Methods Demonstration Project, in which HRSA Office of Pharmacy Affairs approves a model proposed by the covered entity, such as a network
U.S Department of Health and Human Services. Citing Website. 340B Drug Pricing Program & Pharmacy Affairs. Retrieved 01/ 09/ 2014, from http://www.hrsa.gov/opa/implementation/index.html
Wilco Data can generate an array of reports depending on the needs of the covered entity / contract pharmacy. Our level of personal interaction and partnership reflects our commitment to having a vested interest in producing successful outcomes for all parties involved. Our high touch approach allows us to attain the goals of program compliance and better access to patient care.
In order to reduce the need for additional staffing, a full array of invoicing options are available from Wilco Data. We can serve as an accounts receivable / billing and collections department on behalf of the entity, collecting and disbursing funds to all parties involved. Our goal is to streamline the program’s management process so that participation does not add an economic burden to any of the program participants.
Often overlooked as one of the most important issues affecting program compliance, revenue, and patient care, inventory control measures are a vital aspect of your 340B program.
Proper monitoring goes beyond deciding which inventory replacement model should be utilized. Inventory processes should include proper establishment of wholesaler purchasing agreements, NDC specific ordering protocols, suggested formulary development procedures, and demographic specific patient care recommendations.
Wilco Data understands everyone’s situation is unique and a successful 340B program revolves around developing the proper business relationships. Wilco Data will review each new covered entity/contract pharmacy relationship on a case-by-case basis and advise on the most efficient solution for your particular situation.
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