340B Specialty Pharmacy Funding Strategies

This guide outlines the process for hospitals to fund their own onsite specialty pharmacies using savings from their 340B programs. It details the importance of optimizing 340B programs and highlights the need for clinics to be eligible and registered with the 340B program to ensure successful planning. The document explains that hospitals can utilize retail pharmacy revenues and implement a Meds To Beds program to enhance patient care and capture prescriptions effectively. Additionally, it discusses the challenges of opening a specialty pharmacy, including gaining access to specialty medications and working with pharmacy benefit managers (PBMs). The guide emphasizes the financial benefits of onsite specialty pharmacies, including increased revenue potential from specialty drugs and improved medication adherence among patients, ultimately leading to better patient outcomes and reduced readmissions. Best practices for establishing successful specialty pharmacies are also presented, focusing on collaboration between pharmacy teams and integration with health systems.