You Own It. We Manage It!
Now in our 40th year in business, ReCept is the national leader in pharmacy management services. We open a new pharmacy on behalf of our clients almost every month and have developed deep expertise and proprietary best practices to manage pharmacies to their full potential. Opening an in-house 340B pharmacy can significantly improve patient care and financial success for FQHC and other 340B covered entities.
Starting a 340B pharmacy is a complex process and can become overwhelming. Allow the experts at ReCept to do the heavy lifting for you so you can focus on your patients. With 40 years’ experience, we know how to handle the challenges of payor contracting, staffing, licensing, implementing quality assurance procedures and coordinating pharmacy audits.
The pharmacy has now been open for over a year and ½ and it has been a huge success. The revenue from the pharmacy has had a huge effect on our FQHC but even more importantly our patients are leaving their appointments with their medications. We have heard countless success stories about patients that used to go months without medications because they couldn’t leave their houses to go to the pharmacy now have their meds delivered. Patients who could not afford their medication can now afford to fill it every month."
Senior Vice President of Access Health Louisiana
The Benefits of Having an Inhouse 340B Pharmacy
- Increase revenue to reinvest back into patient care
- Carve-in MCO Medicaid patients and increase your capture rate of eligible encounters and margins (in eligible states)
- Capture more eligible encounters
- Increase patient compliance, adherence and outcomes management
- More control to improve access for your uninsured patients
- Improve patient outcomes through communication between clinic staff and pharmacy staff
Path to 340B
Frequently Asked Questions
We will set-up an intro call and tell you more about the ReCept model. We’ll then ask for additional prescribing detail so we can complete a detailed proforma and make sure a pharmacy makes financial sense for your entity.
Not at all. An entity-owned pharmacy adds to your 340B program. Having your own pharmacy will further optimize your program. Your eligible encounter capture rate will be higher. Additionally, depending on the state, owning your own pharmacy may allow you to carve in your managed Medicaid patients.
Approximately 6 to 9 months, depending on how much buildout is necessary and your specific state regulations.
Yes, you may have a closed- or open-door pharmacy. If the pharmacy is closed-door, then it will only serve 340B eligible patients. If it is open-door, it can serve anyone in your community. We can make recommendations based on your clinic and the market dynamics.
Yes, we would be happy to discuss your needs and how we can assist.
Yes – we often find that financially it makes more sense for clinics to own the pharmacy themselves. However, we are happy to look into the opportunity to place a ReCept-owned pharmacy in your location. We would evaluate which options would be better for you by reviewing a proforma and assessing your clinic.