GRAND RAPIDS, Mich., July 13, 2021 (Newswire.com) - SpendMend, the leading provider of tech-enabled solutions to optimize the cost-cycle for the healthcare industry, announced today the general availability of a new SpendMend Pharmacy solution: "340B Referral Capture."
SpendMend Pharmacy was created in August 2020 through the acquisition of Turnkey Pharmacy Solutions and Elevate 340B. The division specializes in compliance, optimization, and growth services for 340B-covered entities and non-340B pharmacies across the U.S.
Throughout the first half of 2021, SpendMend Pharmacy has developed and delivered services to help covered entities identify and capture referral prescriptions that meet all 340B qualification requirements in a compliant manner.
"SpendMend Referral Capture presents all of our referral capture savings in one simple report," states Mat Slaybaugh, CEO at Garfield Memorial Hospital. "The solution has helped us to easily identify potentially eligible referrals while capturing additional 340B savings without adding additional work or integrations."
"Too many prescriptions are excluded from 340B eligibility because of the complexities of managing referral partner relationships," explains Rich Bucher, Vice President of Pharmacy Services at SpendMend. "Our goal is to return this lost value back to covered entities so they can drive that savings back into patient care."
Covered entities using the new service gain increased cost savings, increased revenue, expanded access to accurate referral claim data, and reduced resource requirements, all while remaining 340B program-compliant and HRSA audit-ready.
SpendMend is the leading provider of tech-enabled cost-savings solutions in the healthcare industry. By combining the use of data, proprietary technology, and rigorous analytics with its healthcare focus and expertise, SpendMend partners with healthcare networks to improve and optimize their costs in meaningful and collaborative ways. SpendMend's mission is to help its customers improve their patient care through innovative cost-savings solutions.