340B CLOSED LOOP REFERRALS MADE EASY
The financial benefits of a health system’s 340B program are essential to continuing to provide care for communities in need. While most health systems have a robust process in place to capture the incoming “in-house” 340B revenue, there is an untapped opportunity when patients are referred outside their network.
In fact, our solution can add over 25% in additional 340B savings on top of your health system's current referral captures!
With over 30% of a covered entity’s (CE) contract pharmacy potential coming from referral capture prescriptions, the addition means millions more for your health system.
In Additional 340B Referral Capture Per Covered Entity
Why Improve your 340B Referral Process with Velocity
How We Close the 340B Referral Loop
Patient sees a 340B covered entity (CE)
Patient is referred by CE to a specialist for treatment
Patients sees a specialist and receives a prescription
Prescription is filled at a provider’s contract pharmacy
Velocity identifies prescriptions that may be 340B eligible through a third-party administrator (TPA)
Velocity confirms the 340B drug eligibility
Velocity identifies missing information and collects necessary documentation to ensure HRSA compliance
Velocity sends the compiled information to the CE to be included in their EMR
Velocity then works with TPAs to capture referrals
340B revenue is realized by the CE