For 340B-eligible hospitals dealing with increasingly tight bottom lines (which essentially means all 340B-eligible hospitals), an in-house specialty pharmacy offers enormous savings and revenue potential. Some covered entities generate as much as 600% in specialty pharmacy revenue from 340B drugs as they do in traditional retail / outpatient or contract pharmacy 340B revenue.
Today, critical access hospitals and other 340B covered entities can acquire many specialty drugs for as little as 1¢. Many specialty drugs — including Epclusa, Harvoni, Imbruvica, Iressa, Gilenya, Revlimid and Stelara — offer 340B discounts of 70% to 100%.
All of which is why a specialty pharmacy can significantly increase 340B-covered entities’ opportunities to fill the revenue gaps inherent to their business models and, at the same time, subsidize their Patient and Charity care programs.
How to use your hospital’s retail pharmacy
Consider setting-aside some of the retail-prescription savings from 340B drugs (IE: “soft specialty” prescriptions like Humira). If you earmark them for funding your initial inventory, refrigeration, containers and your dispensing infrastructure, you could build-out your specialty pharmacy capabilities over time — while analyzing your clinics and workflows — without committing a large capital expenditure from your budget. A “retail first” strategy complements and enables a specialty strategy.
ProxsysRx currently owns or manages 22 in-house retail / outpatient pharmacies, and — on average — those pharmacies generate $750 to $1000 in net profit per bed, per month.
Consider making ProxsysRx your retail pharmacy partner
If you choose ProxsysRx to build-and-own or manage your retail pharmacy, we only pay ourselves from the revenue and savings we generate on your behalf. We take-on all the risk, so our clients are never exposed to even the potential for loss.
To learn more about specialty pharmacies and how they can benefit from the 340B drug discount program, visit our blog post on the topic.
ProxsysRx is here to help, if you have questions.
For more information on the full range of pharmacy-support services we offer, contact Howard Hall. C: 205.588.0946 | howard.hall@proxsysrx.com
ProxsysRx offers hospital systems proven solutions for optimizing pharmacy services’ positive impact on the continuum of care; solutions ranging from management of their 340B prescription-savings programs, Retail and Specialty Pharmacy operations, to Prescription Benefits program management, and patient financial assistance.
