New Report Addresses the Multi-Pronged Challenges of Managing Hospital 340B Pharmacies

Pharmacy leaders face a difficult road ahead as they navigate manufacturer shortages and staffing challenges

AMARILLO, Texas, July 21, 2022 /PRNewswire/ -- Managing hospital 340B programs and on-site pharmacies has never been more challenging, as program leaders are forced to navigate growing manufacturer restrictions and ongoing clinical staffing shortages.

This is the feedback from a newly released industry survey report from Maxor 340B, an industry leader in pharmacy management and comprehensive 340B solutions. The survey of hospital pharmacy leaders and decision makers was conducted earlier this year by national health care consultancy Sage Growth Partners.

In every community, 340B qualified entities meet a critical need within the overall healthcare infrastructure. Without them, the communities they serve will experience a massive healthcare crisis. The new report, Addressing the Multi-Pronged Challenges of Managing Hospital 340B Pharmacies, brings to light many of the current pressures facing hospital 340B programs.

Not surprisingly, one of the top challenges facing pharmacy leaders today is managing the impact of staffing issues and vacancies. Of those surveyed, 81% said that workforce issues are among their top three challenges and 53% indicated staffing challenges remain the number one priority.

"Our research shows that in addition to high-level challenges such as staying on top of drug manufacturer restrictions and addressing staffing difficulties, many other significant pain points exist," said Mike Ellis, CEO of Maxor National Pharmacy Services. "Whether it is navigating fee structures and compliance issues or managing specialty drug referrals and adhering to federal regulations, pharmacy management is becoming increasingly difficult, so a partner with comprehensive solutions has significant value."

The survey also found that on-site pharmacies are becoming more common and continue to grow. Most hospitals (71%) indicated they have an on-site outpatient or specialty pharmacy. While more than half of those that currently lack a pharmacy today plan to open one in the future.

Other key findings of the report include:

• 59% indicated that managing specialty drug referrals and prior authorization requirements are among top challenges.
  
  
• 91% of those surveyed said that offering a comprehensive suite of pharmacy solutions has value, and three-quarters stated managing multiple vendors is moderately to extremely challenging.
  
  
• More than half (53%) of respondents indicated they work in acute care hospitals, while 33% work in critical access hospitals and 14% indicated they were employed in other facilities

The full market report and survey can be found here. Additional information about Maxor's 340B services can be found at maxor340B.com. 

About Maxor 340B
Maxor 340B leverages its deep pharmacy expertise to consistently deliver transparency, simplicity and value to healthcare organizations, patients, and communities alike. As a comprehensive 340B and pharmacy management partner, we tailor our solutions to meet the needs of each covered entity, so they can save time, reduce costs, and realize the full potential of their pharmacy programs. For more information, visit maxor340B.com. 

About Sage Growth Partners
Sage Growth Partners is a healthcare advisory firm with deep expertise in market research, strategy, and communications. Founded in 2005, the company's extensive domain experience ensures that healthcare organizations thrive amid the complexities of a rapidly changing marketplace. Sage Growth Partners serves clients across the full healthcare spectrum, including GE Healthcare, ProgenyHealth, the National Minority Health Association, Philips Healthcare, U.S. Renal Care, Quest Diagnostics, Livongo, and Syft. For more information, visit sage-growth.com. 

For More Information
John Gonda
616-309-4888
[email protected]

SOURCE Maxor 340B