Velocity
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.
25%+
In Additional 340B Referral Capture Per Covered Entity
Why Improve your 340B Referral Process with Velocity
Increased 340B Referral Capture
Referral Processes Audited and Optimized
Improved 340B Compliance
Over 25% in Additional 340B Revenue
Freed Up Resources when Our Experts Take on the Complex Referral Process
Expand Contract Pharmacy Network When Applicable
How We Close the 340B Referral Loop
1
Patient sees a 340B covered entity (CE)
2
Patient is referred by CE to a specialist for treatment
3
Patients sees a specialist and receives a prescription
4
Prescription is filled at a provider’s contract pharmacy
5
Velocity identifies prescriptions that may be 340B eligible through a third-party administrator (TPA)
6
Velocity confirms the 340B drug eligibility
7
Velocity identifies missing information and collects necessary documentation to ensure HRSA compliance
8
Velocity sends the compiled information to the CE to be included in their EMR
9
Velocity then works with TPAs to capture referrals
10
340B revenue is realized by the CE
