The Hudson Headwaters 340B team was excited to attend the 340B Coalition Summer Conference on July 15-17 in Washington, D.C. The conference provided wonderful opportunities for networking, exhibiting, and learning from other leading industry professionals. The conference spanned three days and had dozens of sessions, speakers, and events.
Here are 5 of the most important things we learned during the 340B Conference:
- Preventing diversion is a major goal for all covered entities – the Four R’s of preventing diversion are: Relationship with your administrators, maintaining auditable Records, having Responsibility for your compliance, and understanding your provider’s Range of Services.
- The media can be a powerful tool – Exposing yourself to a variety of sources and viewpoints is the best way to understand and get an even picture of any given story. Keynote speaker, Mara Liasson, said, “Too many people look at the media for affirmation and not information.”
- The time to tell your 340B story is NOW – Each session echoed the importance of telling your story and developing your covered entity’s 340B impact profile. Issie Karan from Feldesman Tucker Leifer Fidell reminded us in the legislative update that “Congress can’t know what you don’t tell them.”
- There are several challenges to preventing duplicate discount – Duplicate Discount prevention is made more difficult by claims being identified retroactively, the expansion of Medicaid managed care populations, and expansion of 340B pharmacies.
- Entities should have regular independent audits – In the Community Health Center’s expert breakout sessions, we learned that there are starting to be more audit findings for not having a regular external 340B program audit. Independent audits, also known as “Mock HRSA Audits,” are an incremental step in maintaining program compliance.
As a third party administrator, consultant, and participating covered entity, Hudson Headwaters 340B seeks to collaboratively protect the integrity of the program through preparation for program reform. Are you ready for potential program changes? Reach out to learn more about our services and how Hudson Headwaters 340B can help you meet your goals. Give us a call (855-835-340B) or send an email ([email protected]). We’re in this together, so let’s do it right.