Specialty Pharmacies and the 340B Drug Pricing Program

Published On: September 21st, 2022Categories: 340B, Patients, Services, Specialty

PFSP Specialty Pharmacy participates in the 340B Drug Pricing Program, a government program that provides quality healthcare to eligible health care organizations and patients at reduced prices. Under the 340B Program, PFSP is a contract pharmacy affiliated with a 340B covered entity & is allowed to dispense discounted medication based on eligibility. The reduced drug costs allow for the covered entities to reach more eligible patients.

Specialty pharmacies like PFSP serve patients with complex and often chronic conditions. Specialty medications come with strict protocols for drug handling and adherence and specialty pharmacies want to ensure continuous and uninterrupted access for their patients to receive the lifesaving medications they provide.

Prior to dispensing 340B drugs, contract pharmacies must register for the 340B Program and be listed as active on the 340B OPAIS. 340B Program requirements must be met and covered entities are responsible for ensuring that compliance.

Audit Requirements

For a specialty pharmacy to maintain ongoing compliance, covered entities must provide oversight of the contract pharmacy, maintain records for auditing purposes, and conduct annual audits, which are performed by an independent auditing firm. All violations are reported to ensure compliance is maintained.

Meeting the Highest Standards

PFSP Specialty Pharmacy provides services to patients covered under the 340B Drug Pricing Program. Serving patients who are covered under the 340B Program helps PFSP cater to a broad customer portfolio, no matter what a patient’s financial situation may be. PFSP works with patients to help determine eligibility under the 340B Program.

How does PFSP stack up:

· 98% Prior authorization approval
· 75% Approved in less than 3 days (national average is 27 days)
· 98% Patient compliance
· 98% Patient adherence
· Triple Accredited- URAC Specialty Accreditation, ACHC Specialty Accreditation, URAC Rare Disease Accreditation
· Nationally Licensed in all 50 states plus D.C.
· 27 State Medicaid contracts
· Six 340B (FQHC) Contracts

PFSP’s mission is to serve a patient group with diverse needs and not exclude patients based on their financial needs. Being enrolled in the 340B Program allows us to meet the needs of all of our patients and live out our mission as a specialty pharmacy.

PFSP Specialty Pharmacy provides patients and their physicians an exceptionally high standard of care with our growing team of specialized pharmacists and staff. Our dedicated team of pharmacists focus on improving adherence for patients and work to find an approach that works best for them. Bringing a fresh take on what a Specialty Pharmacy can and should be, we are committed to the care of our patients. We take pride in being an ethical resource within our community and strive each day to help our patients live enriching and full lives.