340B is pretty complicated. In fact, a lot of people responsible for their 340B programs are doing things that are helpful, but may be missing some things that could make their program run even better.

In order to make sure you are getting the most out of your program, I’ve compiled a list of daily, weekly and monthly tasks you should be doing.

Stuff you should do every day

#1 Makes sure ALL of your Data made it to your Administrators (Daily)

Your program will not financially perform to full capacity if you are not delivering data EVERY DAY. Do not settle for non-automated data delivery! Get in touch with us if this is confusing.

#2 Check that you are actually receiving your orders (Daily)

Seems simple right? But sometimes you think you are getting something at a 340B price, and it actually never comes in. Why?

Because 340B software is complex, and far from reliable in a lot of cases.

In the event this happens, antagonize your 340B software vendor. You could be missing something in the setup.

#3 Audit for Compliance (at Least Monthly)

Pick out a few prescriptions and AUDIT them to ensure you are in compliance with the 340B program. Not sure where to begin on compliance auditing? There are some decent tools available on Apexus.

PS… We’ve created some even better tools here. Reach out in the comments section below if you are interested in getting a copy of them!

#4 Audit for Missed Opportunties (at Least Weekly)

I’ve written more intentionally about this in this article.

Most coordinators only focus on compliance. But what are you missing in the realm of prescriptions that slip thru your 340B third-party software? I’ve seen organizations add as much as 25% by applying this type of auditing.

If you are not comfortable with this, at least let someone else tackle it for you! Book some time here to discuss it with me if you want.

#5 Record your program performance (Monthly)

How do you know how you are Performing, if you don’t track your program?

You should track several different statistics at the pharmacy-level, including # of prescriptions, dispense fees paid out, cost of drugs you have purchased, gross and net revenue etc.

If you have ABSOLUTELY no idea how to track this, we have a pretty awesome spreadsheet tool that you can have. Just drop a comment and request it!

Most coordinators only focus on compliance. But what are you missing in the realm of prescriptions that slip thru your 340B third-party software? I’ve seen organizations add as much as 25% by applying this type of auditing.

Conclusion

340B programs deserve your Daily, Weekly, and Monthly attention. This will turn your program from good, to great!

I encourage you to check out a few related posts on this topic here.

Building a Better 340B Program

Adding 25% more revenue to your program via referrals.

Also, don’t be a stranger either, feel free to reach out!

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