April 1, 2024
The Road to In-House Pharmacy Implementation with FQHC 340B Compliance
Opening an entity-owned in-house pharmacy is one of the best ways that an FQHC can provide access to care for their patients.
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Our experience in FQHCs and the 340B Program, along with opening and managing retail pharmacies at our own health centers prior to joining FQHC 340B Compliance, provides you with the expertise for any of your entity-owned pharmacy needs. With more than 65 years of combined pharmacy experience, we offer comprehensive support for starting or optimizing your health center's own pharmacy.
We offer a range of services aimed at opening up new retail pharmacies and optimizing existing pharmacies; maximizing operational efficiencies, profitability, and savings while ensuring strict compliance with 340B Program regulations. With our guidance as your 340B compliance partners, your organization can thrive in the complex healthcare landscape, achieving both financial success and regulatory compliance.
Whether you're looking for help in opening a new pharmacy or optimizing the performance of an existing pharmacy, our team starts by getting to know your organization, current pharmacy operations (if any), and needs. From there, we leverage our knowledge of federal, state, and board of pharmacy regulations, combined with our experience in contracting, pharmacy operations, and 340B Program complexities to build out an entity-owned pharmacy that works best for your organization and your community. We want to see you succeed, and we want to work with your team to make it happen, every step of the way.
While our pharmacy consultation support varies based on the specific needs of each organization, services provided can include:
Optimization of day-to-day pharmacy operations and workflows, and offering more efficient pharmacy layout and design possibilities
Development of pharmacy pricing and operations and 340B Program policies and procedures, to maximize efficiency and savings
Assistance in licensing, construction planning, PBM payer enrollment and contracting, vendor selection, pharmacy software selection and implementation
Guidance in marketing and comunications initiatives for your pharmacy, to increase your reach
Establishing compliance measures and self-audit processes
Navigating mergers and acquisitions
Implementing changes to open- or closed-door pharmacy status, or 340B and Medicaid management
Tracking and reporting financial performance through a pharmacy dashboard
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We've helped a number of organizations meet their entity-owned pharmacy goals and achieve financial success. While each entity's situation, priorities, and potential opportunities will vary, our team is ready to be your trusted partner for entity-owned pharmacy success.
In just six month after inception, a client witnessed 5% increase in their prescription capture rate and a resultant 1,000% increase in 340B savings.
Within a year of partnering with our team, a client experienced a 10% increase in 340B sales, which translated to a 200% surge in pharmacy-related savings.
Three clients, over the course of 16 months, had an average increase in 340B savings of 215%, resulting in a monthly boost of approximately $70,000 in 340B savings.
April 1, 2024
Opening an entity-owned in-house pharmacy is one of the best ways that an FQHC can provide access to care for their patients.
Read More
April 1, 2024
FQHC 340B Compliance’s annual audit services set us apart in our industry. We offer external audit services as educational consultative services. During the process, we will educate you about the documents we request so that in the event of a HRSA audit, your team will know specifically what you are looking for.
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July 18, 2024
The 340B Program, designed to increase access to care for underserved and underinsured communities, has been a cornerstone of healthcare in the United States since the early 1990s.
Read More"We're proud to partner with FQHCs across the country. We want to make sure they can continue taking advantage of the 340B program, and continue providing these vital services to communities that depend on them."
Chief Financial Officer and Founder