How a Large New England Health System Automated Their 340B Auditing and Financial Reporting with Plenful
Large New England Health System
8,000+
New England
340B Auditing, 340B Financial Reporting
Automate Repetitive Tasks
Plenful's 340B solution automates repetitive tasks specific to 340B program management. By automating processes like auditing and savings identification, Plenful reduces manual workload for healthcare providers. This streamlining improves operational efficiency, allowing teams to focus more on patient care.
Manage 340B Audit Risk
Leverage Plenful's automated auditing capabilities to minimize audit risk, mitigate compliance issues, and safeguard 340B program eligibility. Ensure program compliance by proactively identifying errors, exceptions, high-risk claims, and potential remediation before an external audit.
Integrated Reporting
Automatically calculate key metrics and reports using Plenful’s integrated analytics tools. Enrich your existing 340B data with financial and wholesaler data feeds to obtain a central view of your entire 340B program. Achieve new levels of transparency and accuracy to optimize savings, maintain compliance, and make informed decisions.
VP of Pharmacy
Introduction
New England Health System Sought Innovative AI-Powered 340B Program
This New England Health System serves as a cornerstone of healthcare delivery in the region. With over 8000 employees and a commitment to providing high-quality care to the community, the system sought innovative solutions to enhance its 340B program in order to care for its patients.
Challenge
Need to streamline its 340B program management to ensure compliance and maximize savings
Managing a robust 340B program across multiple facilities posed significant challenges for this New England Health System. Manual auditing processes were time-consuming and prone to errors, while disparate financial reporting systems complicated compliance efforts. The team was relying on spot audits that were highly manual and only represented a small portion of their overall volume. The Health System needed a solution to streamline auditing and financial reporting to ensure program integrity and maximize savings
Solution
Using Plenful to ensure saving compliance and optimization
Plenful collaborated with the Health System to deploy an extensive 340B auditing and financial reporting solution. By automating the auditing process, Plenful enabled the system to proactively detect errors and ensure compliance. Plenful integrated with the system's financial reporting systems, consolidating data from various sources into a unified space. This integration offered real-time insights into financial performance of the 340B program, empowering the Health System to make informed, data-driven decisions and optimize savings opportunities
“Losing access to Plenful would be incredibly disruptive to our 340B team and workflows”
VP of Pharmacy
Results
The implementation of Plenful's solution yielded significant improvements for the New England Health System:
- Enhanced Efficiency: By automating auditing processes, Plenful reduced the time and manual effort required for compliance tasks, allowing staff to focus on strategic initiatives and patient care. Plenful eliminated 97% of the otherwise manual work
- Improved Compliance: Plenful's automated auditing capabilities ensured that the Health System remained compliant with 340B program requirements, minimizing the risk of financial penalties and loss of eligibility
- Optimized Savings: Automating data processing and integrating financial and drug purchasing data improved reporting accuracy and reliability while saving hours of work each month. Enhanced analytics enabled better decision-making, maximizing the benefits derived from participation in the 340B program and potential savings identification.
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