POWAY, Calif.--(BUSINESS WIRE)--Novia Strategies, Inc. proudly announces its Corporate Partnership with 340B Health, the nation’s leading advocate and resource for providers who serve their communities through participation in 340B.
“340B Health leads the industry in its representation of community hospitals that care for underserved populations,” says Bill Denton, Executive Vice President and Principal of Novia Strategies. “Partnering with this organization enables us to bring our extensive pharmaceutical experience and operational knowledge to the table, with the objective of helping members achieve the very significant benefits of the 340B program.”
340B Health is a membership organization of more than 1,000 public and private nonprofit hospitals and health systems throughout the United States that participate in the Public Health Service 340B drug pricing program. Formerly Safety Net Hospitals for Pharmaceutical Access, 340B Health was formed in 1993 to increase the affordability and accessibility of pharmaceutical and clinical care for the nation’s poor and underserved populations.
“We’re honored to have Novia Strategies as a Corporate Partner,” says Randy Barrett, vice president of communications for 340B Health. “We appreciate the company’s commitment to program stewardship.”
“This program truly benefits member hospitals, many of which are serving low-income or underserved communities,” says Scott Drugan, Vice President and Pharmacy Practice Lead of Novia Strategies. “For example, we recently helped a 450-bed hospital implement the program, resulting in annual pharmaceutical savings in excess of $3 million. This enabled them to continue to fulfill their community benefit services, which includes providing medications to the medically indigent.”
Novia’s integrated Pharmacy suite of services includes a robust 340B Program that enables clients to ensure regulatory compliance and maximize cost savings of the 340B Drug Pricing Program. Highlights of our 340B Program include:
- Maximized savings and improved regulatory compliance
- Extension of 340B to all eligible facilities and patients
- Ability to purchase covered outpatient drugs through 340B accounts established with drug wholesalers
- Established contract pharmacy arrangements
- Negotiated strategic partnerships
- Improved regulatory compliance through effective virtual inventory procedures, observance of Medicaid billing stipulations to avoid duplicate discounts, and GPO exclusion criteria
About 340B Health
340B Health is an association of more than 1,000 hospitals. We are the leading advocate and resource for those providers who serve their communities through participation in the 340B drug pricing program. For more information about us and the 340B program, visit www.340bhealth.org.
About Novia Strategies, Inc.
Now celebrating its 20th anniversary, Novia Strategies offers a unique blend of professional expertise that takes a 360˚approach to uncovering cost savings and improving efficiency and quality for hospitals across the country. Novia Strategies helps community hospitals and IDNs operationalize their strategic plan through expense management, quality improvement, and revenue enhancement. Key focus areas include:
With more than 150 clinical, financial and operational professionals, Novia Strategies works shoulder-to-shoulder with clients every step of the way. The result: sustainable savings that reduce costs without compromising quality, and improve quality without increasing cost. For more information on Novia Strategies, please visit www.noviastrategies.com.
Novia Strategies’ sister company, Novia Solutions, provides interim healthcare management services for hospitals across the country. As one of the few healthcare companies to offer both consultancy and executive interims, Novia enables clients to initiate critical projects even when facing a leadership gap through the appointment of a highly qualified, experienced, transformational leader. For more information on Novia Solutions, please visit www.noviasolutions.com.