Tools and reports in Sentinel can help you confirm what you may be owed
A recent HRSA notice addressed recalculated 340B ceiling prices for Merck products and provided instructions for claiming refunds that may be due to 340B covered entities. This situation brings to light another use for Sentinel’s robust audit tools and reports.
Periodically, a manufacturer may recalculate the Average Manufacturer Price and Best Price values they previously submitted to the Centers for Medicare and Medicaid Services. As a result of these recalculations, manufacturers also recalculate the 340B ceiling prices for the affected products. When this happens, and the manufacturer’s data demonstrates a difference between the original and recalculated 340B ceiling prices paid during the impacted quarters, the drug manufacturer communicates the adjusted values and issues refunds to 340B covered entities.
If you’re affected by a manufacturer’s drug price recalculation, you can review the manufacturer’s data for accuracy by comparing it to your own records in Sentinel. This will allow you to verify the refund amount your organization is owed.
Here are some of the Sentinel tools that can help you examine your previous purchases to determine if any affected products were purchased during the timeframe specified by the manufacturer:
Audit Tool: use this tool to find relevant invoice records from the specified time period that include the affected drugs and show the associated 340B dispensation data.
Search Tool: use this tool to search by affected drugs and see all associated patient, physician and invoice data.
Charge Master Formulary Matrix Report: visit this page to view a report of all items mapped to a formulary matrix and drugs that have been previously purchased.
Actual Savings Report: review this report to identify 340B savings from purchases made.
Drug Cost/Contract Monitor Report: this report helps you identify NDCs where the wholesaler contract price reported is different from the invoice price paid.
For help using these tools, contact the SentryOne Help Team at 1.866.221.4338.