PLANO, Texas, Jan. 21, 2013 (GLOBE NEWSWIRE) -- Pharmaceutical Strategies Group, LLC (PSG), the largest independent pharmacy benefits consulting firm in the U.S., announced the launch of its Total340B solution package that includes Contract Pharmacy Services, Split Billing Solutions, and Care Card Programs for uninsured patients who are eligible for 340B programs.
"We heard from our clients that they needed comprehensive solutions for 340B administration that were not available in the marketplace. They are looking for flexible solutions from a single source that integrate with existing systems and processes," said Dave Borden, CEO. "Our consulting heritage creates the culture where we listen to our clients and wrap the solution around their needs and issues rather than pushing them toward an off-the-shelf product or service."
According to the National Conference of State Legislatures Website, "The federal 340B Drug Pricing Program provides access to reduced price prescription drugs to more than 16,869 health care facilities (as of October 2011) certified by the U.S. Department of Health and Human Services (HHS) as 'covered entities'. These clinics, centers, and hospitals serve more than 10 million people in all 50 states, plus commonwealths and territories." The 340B Drug Pricing Program was established in response to the passage of Section 340B of U.S. Public Law 102-585, the Veterans Health Care Act of 1992. Section 340B of this law limits the cost of drugs to certain grantees of federal agencies and other entities identified in the statute. Significant savings on pharmaceuticals may be seen by those entities who participate in this program. The program is administered by the Office of Pharmacy Affairs (OPA) of HRSA, under the federal Department of Health and Human Services (HHS).
Eligible 340B health systems face a multitude of issues in the market today. Reducing cost and compliance risk are a top priority for many hospital administrators. Working to expand points of care, regulatory compliance, and audits have created new challenges for program participants.
PSG's Total340B solution solves these challenges by delivering superior implementation of contract pharmacy services. We leverage national contract relationships with pharmacy chains and use pre-approved contract templates to streamline the process. PSG now has the distinctive ability to customize split-billing solutions around each facility and the needs of their hospital outpatient pharmacy. This fully integrated solution shifts the burden of inventory management so that covered entities can focus on the pharmacy. To address the uninsured, PSG offers expanded access to care for at-risk populations with the PSG Care Card, which provides on-site program enrollment, data capture and real-time eligibility determination. The auto-generated prescription card allows patients to pick up their medications through contract pharmacies near work or home.
"We are excited to provide a comprehensive suite of services that are customizable, compliant and flexible. PSG's unique ability to offer unmatched technology, experienced staff, and innovative services in the health system solution marketplace aligns its new services to administer programs more effectively and enhance its existing suite of services. We look forward to offering these in-demand solutions to the Health Systems and other Qualified Entities," said Borden.
Leading the PSG Health System Solution executive team is Senior Vice President and Chief Operating Officer, Lori Grosso, MHA. Grosso oversees PSG's hospital services and product execution. She has extensive experience in hospital administration, managed care, PBM operations, and consulting. Also on staff is Vice President of Health System Solutions, Bruce F. Boelter, RPH, MBA. Boelter has more than 25 years' experience in a diverse range of pharmacy and healthcare management including most recently with Apexus prior to joining PSG.
"By offering flexible solutions to ensure compliance management, inventory control, contract pharmacy assistance, split billing, and a patient care card program for the uninsured, PSG has set the bar in the marketplace as a total solution provider. Our team includes experts in all aspects of pharmacy operations, technology, and 340B regulations, audits and compliance," said Grosso.
About PSG's Health System Solutions Division
PSG offers enterprise-wide outpatient pharmacy solutions for hospitals and health systems. PSG's sophisticated technology ensures program efficiency and regulatory compliance. Our professionals are operations, IT and compliance experts from PBMs, retail pharmacies, and wholesalers with direct experience in pricing, billing, contracting, supply chain management (340B, own-use, GPO, contract pharmacies), clinical management, pharmacy operations, data warehousing and analytics, and auditing. PSG's team consists of more than 60 professionals, including 13 clinical pharmacists deployed throughout the United States. PSG has a 19 year track record of delivering exceptional value to clients through lower costs and improved outcomes.
The Pharmaceutical Strategies Group, LLC logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=16668
General and press inquiries can be sent to: Kristin LaVitola, Marketing Director, klavitola@psgconsults.com.