SpendMend’s Pharmacy division hits major milestone while keeping covered entities compliant with Health Resources and Services Administration (HRSA) statutes relating to 340B regulations.
Dec 2, 2021 10:00 EST
GRAND RAPIDS, Mich.,
December 2, 2021 (Newswire.com) –
SpendMend, the leading provider of tech-enabled solutions to optimize the cost-cycle for the healthcare industry, announced today their pharmacy division has surpassed 1,500 340B compliance audits in addition to 100 dedicated HRSA audits.
Turnkey Pharmacy Solutions (a SpendMend Company) provides external 340B Program auditing while also assisting with regulatory oversight helping Covered Entities (CE’s) remain compliant with HRSA through annual reviews of their 340B programs. The in-depth audit process mimics an HRSA audit to gauge how well a covered entity will fare when facing an external HRSA audit while also performing a comprehensive gap analysis of the CE’s 340B program.
The 340B program, passed by U.S. Congress in 1992, helps hospitals and clinics that provide care to the uninsured; the underinsured; people with HIV or AIDS; children with cancer; and other vulnerable patient segments by requiring drug companies to provide medications at a discounted price.
The program requires drug manufacturers to sell outpatient drugs at a discount to CE’s. The Office of Pharmacy Affairs and HRSA administer the program and oversee program compliance through annual audits, among other efforts. If audits identify noncompliance issues, HRSA presents findings to CE’s and requires corrective action to continue in the 340B Program.
“More so than the large number of compliance audits we have performed, we are most proud of the high level of quality that we have delivered to the covered entities that we serve,” states Rob Nahoopii, founder of Turnkey Pharmacy Solutions. “We remain dedicated to supporting hospitals and clinics in their mission to help underserved and disadvantaged patient communities.”
Turnkey Pharmacy Solutions
Founded in 2012 by a team of pharmacy leaders, Turnkey Pharmacy Solutions emerged into the market as a leading provider of 340B audit and compliance services and has performed over 1,300 340B audits at hospitals and clinics across the country. Turnkey and its subsidiary, Elevate 340B, was acquired by SpendMend in August 2020.
SpendMend is the leading provider of tech-enabled, cost-savings solutions in the healthcare industry. Combining the use of data, proprietary technology, and rigorous analytics with its healthcare focus and expertise, SpendMend partners with healthcare networks to improve and optimize their costs in meaningful and collaborative ways. SpendMend’s mission is to help its customers improve their patient care through innovative cost-savings solutions.