June 17, 2021
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Managing 340B program participation and compliance is cumbersome for even the most resourceful of organizations. From executing calculations through to reporting and audit preparedness, it is a job big enough to require dedicated employee(s) and systems.
Excellarate offers highly differentiated technical expertise within the 340B domain enabling you to build out solutions and manage your 340B programs seamlessly.
Solutions we have built track 340B eligibility, inventory replenishment and audit compliance which enables covered entities to save on administration costs and effectively manage and administer the 340B program.
To help you take on 340B with confidence, Excellarate will:
A single platform solution designed to manage the end-to-end procurement cycle and help you track your drug activity from pill procurement to patient payment. The 340B system facilitates in-depth tracking of drug activity at the 11-digit NDC level for a comprehensive audit trail and helps gain new insights into your pharmacy operations.
Find and fix price differences where there exists a mismatch between contracted and invoice prices or where the cost is greater than the national average for an NDC. Get lower-costs and nominally priced items based on the NDCs you typically order.
Enable robust management of inventory and procurement across multiple ordering platforms, wholesaler accounts and pricing contracts.
Identify and resolve unmapped revenue items to prevent loss of revenue and positively impact your bottomline. Determine drug costs by monitoring the ratio of purchases to dispatch.
Robust customizable reporting helps you drill down into your data and draw relevant insights. Predict your drug spending based on historical data and what-if scenarios. Effortlessly integrate with 3rd party pharmacy software and real-time invoice generation process.
100% audit compliance with built-in audit assistance from our audit support specialists.
Engage automated decision processes guided by configuration options you choose based on your 340B program parameters. Realize 50-60% cost savings over 3 years resulting from lower per claim processing costs. Reduced pricing discrepancy avoids repeat processing of invoices with upto 99% accuracy.
Provide covered entities an automated inventory replineshment that ensures high availability of drugs at stores.
File Ambassador is an electronic data interchange (EDI) tool that provides a mechanism for extracting data from external sources, transforming it to a normalized data format, and then loading it into an end target or repository. It facilitates back-end processing services across various healthcare domains.