CHICAGO, Aug. 14, 2020 /PRNewswire/ -- Kalderos, the country's first Drug Discount Manager, today announced it is now working with 3,000 340B covered entities through the Review tool in its Discount Monitoring solution, a revolutionary application that simplifies and streamlines collaboration on good faith inquiries for covered entities, ensuring compliance in the 340B Drug Pricing Program. The 3,000 participating covered entities span the range of providers, but include some of the largest Medicare Disproportionate Share Hospitals (DSH) in the nation.
Kalderos' Drug Discount Management platform strengthens the integrity of the 340B Drug Pricing Program, making the process more transparent and making compliance seamless for healthcare providers, drug manufacturers, states and, ultimately, patients.
"We are proud to reach this milestone and grateful to the 3,000 covered entities working with us to ensure the drug discount system works as intended. This level of partnership and engagement is a very public endorsement of our solution," said Micah Litow, president and COO, Kalderos. "Because of our offering, covered entities can now operate with confidence, manufacturers can verify their discount dollars are going to the right party, and, ultimately, all stakeholders can focus their time on improving the lives of patients."
340B covered entities, such as Federally Qualified Health Centers and Disproportionate Share Hospitals, provide care to vulnerable and underserved populations and are a vital component to the health and wellbeing of many Americans. The 340B Drug Pricing Program makes prescription drugs available at an affordable price, but requires careful and often challenging accounting and reporting to avoid duplicating discounts, which are often applied alongside the Medicaid Drug Rebate Program. Historically, compliance has been difficult, resource-intensive and inaccurate.
"I imagine it is a combination of their background and their tech, but Kalderos is the only solution we've found that simplifies and streamlines our participation in 340B good faith inquiries," said Peter Tawfik, director of pharmacy, Omni Family Health.
"I would like to thank Kalderos for helping us to refine our audits so that we may detect potential inaccurate claims and prevent duplicate discounts from occurring," said Greg Redding, pharmacy director, MHC Healthcare.
Founded in 2016, Kalderos has built the only modern technology solution that leverages a robust rules engine and a collaborative marketplace to ensure compliance in the drug discount market. Combining industry expertise, artificial intelligence and comprehensive, deep-data libraries, Kalderos quickly identifies errors that have previously gone undetected, ensuring the right discount to the right party on the right transaction.
Kalderos combines industry expertise, design thinking and technology to target waste and to improve efficiency as the category leader in healthcare network management. Its SaaS products, 340B Pay and Discount Monitoring solutions, form the world's first Drug Discount Management platform, which identifies, checks and resolves noncompliance. Using sophisticated models and machine learning processes, Kalderos detects inconsistencies overlooked by current methods, providing material benefits by eliminating waste. Based in Chicago, Kalderos was founded in 2016 by a team firmly rooted in the belief that it is essential to fix this problem in order to help patients and reduce inefficiencies. More information can be found at www.kalderos.com.