(Recorded Webinar) Inventory Management for 340B Covered Entities
For a 340B covered entity, managing 340B drug inventory in compliance with HRSA requirements can be challenging. Over-ordering of 340B drugs may, in the case of a virtual inventory, amount to “diversion” requiring corrective action including potential repayment to a manufacturer. Similarly, a failure to timely replenish drugs with 340B stock can result in the covered entity having to compensate a contract pharmacy for lost inventory, sometimes at onerous rates. While the inventory management function often is handled by a third-party administrator, the ultimate responsibility for compliance remains with the covered entity. Therefore, in order to properly conduct oversight it is essential for a covered entity’s 340B team, including its compliance and finance staff, to understand how the various 340B inventory models work and, in particular, where things can go wrong and how to avoid problems.
In this webinar, FTLF Partners Michael Glomb and Jason Reddish will explain how the typical inventory management systems work, potential compliance problems, and best practices for monitoring 340B inventory and, if necessary, taking appropriate corrective action.
- 340B program administrators
- Fiscal staff
After this webinar, you will be able to:
- Understand how the common inventory management systems for 340B drugs operate.
- Be able to identify potential compliance weaknesses in an inventory management system.
- Understand how to take appropriate and cost-effective corrective action.
Michael B. Glomb
A Partner with the firm, Mike practices in the Federal Grants and Health Law groups, and has over three decades of experience advising community-based organizations on a broad range of legal matters. Specifically, he offers guidance to Federally Qualified Health Centers, other federal grantees, and several professional and trade associations on the 340B drug discount program, tax exemption, grants law, and fraud matters. [Full Bio]
Jason focuses his practice on the federal 340B drug discount program and the complex legal and compliance issues facing safety net providers, pharmacies, and other 340B program stakeholders. Jason began his career representing pharmaceutical manufacturers before finding his passion helping 340B program covered entities, including disproportionate share hospitals, Federally Qualified Health Centers, Ryan White HIV/AIDS clinics, and other grantees navigate the 340B program. [Full Bio]
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- 1.50 Certificate of Attendance
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