A medical center realizes the full potential of their 340B program while also discovering how proactive services from their broker can make the difference.
A nonprofit, regional medical center in New Mexico with 360 employees is a participant in the federal 340B Drug Pricing Program. This allows the facility’s on-site pharmacy to purchase outpatient prescription drugs at significantly reduced prices. The hospital was recently on the hunt for a new insurance broker who could provide strong customer service and proactive ideas for managing their employee benefits program.
The medical center was frustrated with inadequate communication and planning from their previous broker. There was uncertainty about who was handling compliance reviews and reporting, which are essential for maintaining 340B status. Additionally, despite being self-funded, the medical center was not receiving necessary Rx data and financial reviews, hindering their ability to create a proactive, efficient medical plan.
After listening to the medical center’s concerns, The Miller Group team highlighted the importance of reliable, responsive customer service and the need for a comprehensive plan. They introduced proactive services, such as benchmarking, Rx services, and wellness programs, which intrigued the medical center and highlighted areas for improvement.
Additionally, the medical center did not realize the full potential of their 340B status, including the concept of being able to provide employees access to discounted medications. The Miller Group presented the idea of leveraging their 340B status to establish a domestic provider network that employees could utilize and then purchase prescriptions through the on-site pharmacy, saving both employees and the medical plan money.
As a client of The Miller Group, the medical center will receive a complete compliance review, regular partnership meetings, and create a two- to three-year road map. Overall, the aim is to improve the plan, reduce costs for the company and their employees, and protect the medical center’s reinsurance.
