340B 360
340B 360
Podcast Description
340B 360°, a new podcast from 340B Report, is your exclusive window into the industry leaders that provide products and services to hospitals, community health centers and other 340B providers to help them implement and comply with the 340B drug pricing program. Each episode, posted monthly, provides a special opportunity to get to know the C-suite executives of 340B Report’s impressive group of sponsors, the valuable expertise they provide, and their insights on key developments in this critically important drug discount program.
Podcast Insights
Content Themes
The podcast focuses on key themes such as compliance challenges, leadership in the healthcare industry, and innovations within the 340B program. For example, the first episode discusses adapting to 340B changes with Verity Solutions' CEO, covering topics like contract pharmacy restrictions and the importance of transparency in showcasing how 340B savings are utilized to enhance patient care. Other episodes may address topics like revenue generation and efficiency in healthcare technology.
340B Leaders Upfront is your exclusive window into the industry leaders that provide products and services to hospitals, community health centers and other 340B providers to help them implement and comply with the 340B drug pricing program. Each episode, posted monthly, provides a special opportunity to get to know the C-suite executives of 340B Report’s impressive group of sponsors, the valuable expertise they provide, and their insights on key developments in this critically important drug discount program.
In this episode of our business podcast 340B Leaders Upfront, host Anna Mangum sits down with Ali Farzad, Co-Founder and CEO of CompassRx and Rory Phillips, a long-time health system pharmacy director who is now one of the firm’s key advisors. CompassRx deploys AI agents to maximize in-house pharmacy growth and compliance for 340B covered entities (CEs).
Key Topics Covered:
Career Trajectories
Ali outlines his early career work in AI and healthcare, how this and other experiences including being an Emergency Medical Technician led him to co-found CompassRx, with a focus on improving CE efficiency and performance. Rory discusses the key highlights of his 38-year tenure as Director of Pharmacy and Respiratory Care at Southern Ohio Medical Center (SOMC). He talks about his longtime involvement in the 340B program and how Compass Rx has helped SOMC expand its reach and improve patient care.
Growing In-House Capture with AI
Rory showcases how CompassRx’s AI platform enabled SOMC to achieve major increases in in-house pharmacy capture and 340B savings, especially in outreach to patients. Ali outlines ongoing challenges in contract pharmacy and their implications for CEs and why a pivot to more in-house pharmacy use can help alleviate these challenges.
Leveraging 340B
Ali and Rory discuss the stiff financial headwinds facing CEs due to developments such as the upcoming rebate pilot, and the importance of leveraging 340B given its unique role in not only driving organizational financial health but in improving community health outcomes. They advise CE professionals to promote C-suite engagement in optimizing 340B at their institutions and deploy AI strategically in these vitally important efforts.
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