October registration period is almost here, which means new 340B covered entities (CEs) can register for 340B status with HRSA.
It's also the time of year when existing 340B CEs can register new contract pharmacies.
Whether you represent a new or existing CE, we want to emphasize how important it is to add specialty pharmacy to your contract pharmacy lineup. It's especially important if you're considering capturing referral scripts (or if you already do!)
Here's why: Specialist providers are more likely to prescribe specialty drugs. For instance, referred-to rheumatologists are more likely to prescribe high-cost specialty meds than a typical PCP.
If you're not capturing referral scripts as part of your 340B program, these prescriptions are excluded from claims capture based on ineligible NPI.
Over 70% of par8o's 180 340B clients were not contracted with specialty pharmacies when first partnering with par8o. Once specialty pharmacy is added to a client's contract pharmacy portfolio, we measure month-over-month program growth of 35.5% – 171.9% - just in par8o-captured claims. This can amount to thousands of dollars.
Now is the time! Add specialty to your contract pharmacies during open registration, so that at the start of next quarter you're eligible to include any potential scripts as 340B.
For larger retail pharmacies such as Walgreens and CVS, adding specialty pharmacies to your contract can be as simple as signing an addendum. So what should you do this registration period? Reach out to your rep to make sure specialty pharmacies are included in your network.
Interested in an analysis of how specialty could impact your program? Email firstname.lastname@example.org.