Improving 340B Operations with 340MetrX
June 29, 2020
June 29, 2020
At ClearMetxR we offer a cutting-edge suite of 340B Administration Support. Including but not limited to:
Back end support
Twice Monthly Reports: Billing, Inventory, Replenishment
Claim-by-Claim Cost Analysis
Perpetual Inventory Reports
Our 340B Administration Support team provides contracted 340B entities with customized 340B data solutions for the management of the discount prescription drug program. We go above and beyond providing clinics with a variety of reports to ensure tracking, inventory, management, billing management and more through a highly qualified team that is equipped with up-to-date industry knowledge.
Reports are generated and provided to the 340B Entity on a semi-monthly basis. The initial Reporting Period will consist of fifteen calendars days commencing on the Pharmacy Service Agreement start date. The second reporting period will begin on the sixteenth calendar days after the contractual start date. Each subsequent semi-monthly reporting period will begin on the 1st of each month and the 16th of each month.
Our PharmCo RX 340B Administration Support Team will provide Covered Entities with reports for the prior semi-monthly Reporting Period within 5 business days after the commencement of each semi-monthly Reporting Period. Additional ad-hoc reports can also be generated as needed at the request of the Covered Entity.
The Dispensing Report lists all prescriptions filled by the Pharmacy for Eligible Patients. This report includes data including but not limited to Eligible Patient Entity site, prescriber name, prescription number, drug name, drug strength, NDC number, quantity dispensed, copay collected, reimbursement collected, payor source.
The report also provides a summary of Covered Drugs dispensed by the Pharmacy to Eligible Patients, by NDC number, drug name and drug strength.
The Inventory Report details the total quantity of each Covered Drug dispensed and replenished by drug name, strength, NDC, quantity dispensed to Eligible Patients, quantity replenished, date of replenishment, quantity returned, and balance of each Covered Drug in units and aggregate value based on purchase price.
Covered Entity will be provided with 340B Statement reports that totals, in aggregate and by payer source, gross reimbursements due Entity, cash collected on behalf of Entity, total costs of goods sold, total number of dispenses, total dispensing fees to be paid to Pharmacy, and net cash income earned by Entity (collections minus cost of goods sold minus fees), for the reporting period
Virtual Replenishment an Inventory Model used by PharmCo RX to track eligible drugs that have been dispensed at a pharmacy. The Inventory Report shows how dispensing accumulates and the drugs are ordered once the NDC has totals equal to or greater than a designated package size in the accumulator.
Delivery of Reports
In relation to the HIPAA Privacy Rule and the HIPAA Security Rule, data encryption is a method to protect PHI. To make sure the delivery of reports HIPAA compliant we use end-to-end encryption, which encrypts both messages in transit and stored messages. This allows us to securely deliver reports and data containing Protected Health Information.
No later than forty-five (45) days after receipt of 340B Statement our accounting team shall submit a check in an amount equal to the total amount collected from prescriptions for Covered Drugs dispensed to Eligible Patients less the dispensing fee for all prescriptions for Covered Drugs dispensed to Eligible Patients and DIR fees, in accordance with the fee schedule established by the Pharmacy Service Agreement.
Measured analytics results in better outcomes
Monday, June 29, 2020