Nobody likes this. You can choose to holdout, but your organization suffers, your patients suffer and the philosophical issues will not benefit from your resolve.
Fight the good fight, but not here.
Submit your data. Collect your cashflow.
And write your legislators to end these unfair practices.
Then, actively manage the process to make sure it performs as intended, because it does not. ESP requires your attention, engagement, and active battling with wholesalers, TPA;s, and contract pharmacies. Your entire 340B network has to collaborate and cooperate. It will take your leadership or ours to make it happen.
This request for transparency is a red-herring no doubt. This has everything to do with delaying or defeating your 340B cashflow. Submitted your data provides little, if any, incremental data to pharma. They already have avenues to understand everythign they need to know. Your data is not empowering them. We understand it is a tough pill to swallow, this is one where we have seen one client after another benefit in a meaningful way, maybe 20-30% improvement in your cashflow.
We make sure your pricing is reinstated one medication at a time, for each contract pharmacy. Then we do it at the wholesaler level to get your replenishment rolling and your entire 340B team back on track.
After your pricing is restored, we start to see the 340B cashflow returning as you expect.
With your first lookback period, it starts to feel a little better. You are limiting the damage as much as you can.
Then boom, it slips sharply the next month and you have to find a needle in the haystack to discover the root of the problem.
Velocity helps find those needles as quickly as possible.
We help collect and submit your data.
We identify your expected 340B pricing.
We compare expected pricing with youru actual pricing.
We collaborate with your TPAs to update their wholesaler price files.
We chase the wholesalers to flip the swtiches.
We watch to see if everyone did their part.
Sometimes they do,
Sometimes they do not.
Every month is a new ESP circus.
Wholesalers have different means of tracking, blocking, opening and closing your WAC and 340B pricing. Velocity does the grunt work of opening the pricing and then monitoring the changes and corrections needed over time. We have seen it over and over, we make the corrections, prices open, then next month prices close. Why? It varies and we've heard every excuse. The point is you have to watch it, catch the errors and follow up with the 340B network to correct the issues. Then do it again next month.
Sounds easy to submit the data and collect your 340B cashflow, but your peers will tell you otherwise. The labyrinth of traps, human errors and data challenges seem limitless. Every month brings new issues, policy changes and evolving manufacturer restrictions.
We do this all across the country and it remains a challenge to catch the twists as early as possible. It takes a dedicated team and continuous effort to manage the ESP program effectively.