Avella is partnering with technology provider Sentry Data Systems on 340B drug discount program efforts.
The pharmacy announced the new partnership with Sentry Data Systems, a leading provider of technology systems that help hospitals and clinics reduce costs, manage compliance and produce better outcomes. The partnership will allow both companies to leverage their strengths to better serve covered entities participating in the 340B drug discount program.
The 340B program requires drugmakers to provide outpatient drugs at discounted prices to eligible hospitals, clinics and other eligible providers. The purpose of the federal government’s program is to help stretch scarce federal resources as far as possible, so that covered entities can reach more eligible patients and provide more comprehensive services. The program was originally intended only for certain hospitals serving a large population of indigent patients, but the Affordable Care Act (ACA) expanded the program to allow additional hospitals, including free-standing cancer hospitals and children’s hospitals, to participate.
“We are honored that Sentry has selected Avella as a strategic partner in this initiative,” said Nathan Downhour, Executive Vice President of Strategic Programs for Avella. “We recognized that they are a leader in this space and as such, their efforts have helped thousands of healthcare organizations provide affordable drugs to providers participating in the 340B program.”
The 340B program can be challenging for hospitals and healthcare organizations to manage because of the complex compliance, audit and inventory requirements. Additionally, 340B can be difficult since regulatory changes are ongoing. Because of these difficulties, these entities turn to Sentry’s 340B solutions to help them manage the challenging processes inherent to 340B adherence, oversight and decision-making. According to Sentry, as the company has seen growth in providers’ use of specialty drugs to treat complex conditions, they’ve also seen these providers struggle with how to gain access to specialty medications and how to manage the high cost of these therapies.
By collaborating with Avella Specialty Pharmacy, Sentry’s 340B customers will now be able to incorporate specialty medications as part of their 340B program and will have improved access to hard-to-obtain drugs. Additionally, they can leverage Avella’s expertise to help ensure medication adherence, improve outcomes and reduce readmissions of patients with complex conditions.
“Our goal is to provide a total pharmacy management solution for our customers,” said Sentry’s CEO and founder, Travis Leonardi, RPh. “As a recognized leader in pharmacy utilization management, optimization and analytics, our customers count on us to help solve their pharmacy business challenges. Our relationship with Avella helps strengthen our customer’s clinical capabilities, as well.”
Sentry’s proprietary technology drives an integrated platform for advanced analytics, procurement, drug utilization, inventory, audit and compliance solutions. The company has been working with the 340B program for over a decade and employs a team of pharmacists, support staff and clinical professionals. Avella has been in the specialty pharmacy space for nearly two decades, bringing expertise to this partnership in providing breakthrough medications and support to patients, as well as relationships with providers, payers and drug manufacturers.
“There is incredible synergy between our two companies as we both understand the importance of merging advanced technology with clinical expertise. Yet, we cover different ends of the 340B spectrum,” said Dr. William T. Sander, PharmD, Executive Vice President of Sales for Sentry. “Avella’s long-standing history of clinical excellence, and ability to effectively partner with practices, makes them an ideal partner for Sentry.”
Source: Avella Specialty Pharmacy
Last updated: 3/5/15; 3:10pm EST