Sentry Data Systems Launches Reclaim Rx(TM) In Response to N
DEERFIELD BEACH, Fla., July 22, 2020 /PRNewswire/ -- Sentry Data Systems, Inc., the nation's leader in pharmacy procurement, compliance and utilization management, announced today the release of Reclaim Rx™, a solution enabling 340B safety-net providers to remain compliant with new processes imposed by certain pharmaceutical manufacturers.
"Sentry is taking aggressive action to ensure all 340B covered entities (CEs) are protected against disruptions resulting from this major policy shift on the critical 340B program that has helped our most vulnerable patients over the past 28 years," says Travis Leonardi, RPh, CEO of Sentry Data Systems. "We are acutely aware of the need to preserve every dollar saved through 340B, especially during the current COVID-19-induced financial crisis and are well-positioned and committed to protecting our customers."
Three new initiatives by several pharmaceutical manufacturers have recently placed new demands on covered entities. One initiative threatens that if the CEs don't begin to submit all contract pharmacy data to a portal where every drug will then be reviewed for 340B eligibility, they may introduce further barriers on access to 340B medications. In another initiative, the new demand is to submit all outpatient utilization and contract pharmacy data to another portal, after the entity determines 340B eligibility, to submit for payment of a 340B discount, upon paying full price and pending approval or denial. In effect, this approach by some manufacturers is removing the point of sale discount and forcing CEs to purchase drugs at the wholesale acquisition cost (WAC), which is the most expensive price to pay and is devoid of any discounts or rebates. The drug manufacturers will then credit the CEs once eligibility has been confirmed. This new reimbursement model will dramatically affect cash flow, access to medications and the potential savings that CEs rely on to help them provide services to their patients, including those uninsured.
All of these tactics are occurring at a time when drug costs are skyrocketing and providers are grappling with the economic effects of the COVID-19 pandemic. In short, this manufacturer-imposed policy change will push many healthcare providers to the brink and place our healthcare delivery system at risk. According to a new report cited by AARP, "Big drug companies have raised prices on 245 medicines, including those commonly used in intensive care units, lifesaving cancer drugs, blood pressure medications and some that are being used to treat COVID-19 or are being tested for use to combat the illness…"
Sentry's Reclaim Rx solution, available immediately, will automate and track all processes needed to meet the specifications of the drug manufacturers' new demands. The platform will reduce the operational load and provide a full audit trail to ensure every dollar owed to the CEs is accounted for and reimbursed. Additionally, Sentry's analytics and reporting tools can provide covered entities control over their data.
Leonardi continues, "I created this company 17 years ago to serve as a Praetorian Guard, protecting hospitals, clinics and specialty providers and I intend to maintain Sentry's leadership role through any and all policy shifts, program pivots and anything else that may risk our customers' viability and the fundamental rights of patients to receive high-quality care and life-saving medications."
About Sentry Data Systems, Inc.
Sentry Data Systems, Inc. is a pioneer in providing technology solutions that help healthcare providers address their three biggest challenges: reducing total cost of care, managing compliance and producing better quality. Thousands of hospitals and care locations across the country rely on Sentry's integrated platform for their solutions, which provide decision support for millions of unique patients and have helped hospital systems and IDNs realize billions of dollars in documented savings.
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SOURCE Sentry Data Systems, Inc.