Sentry Data Systems, Inc. announced today that they’re making available to pharmacies their highly-successful, industry-leading 340B software platform via a new offering called the Sentry 340B Technology Backbone.
Sentry’s 340B solutions automate manual processes, reduce human errors, simplify complex compliance challenges, and consolidate financial reporting related to managing 340B Program requirements for hospital pharmacy procurement and contract pharmacy programs in 340B-eligible hospitals and other covered entities. The 340B Technology Backbone provides this same platform functionality to pharmacies while allowing covered entities to continue using their existing 340B vendor. The announcement was made by Travis Leonardi, CEO and Founder of Sentry Data Systems.
“Many national pharmacy chain leaders know that Sentry has been providing its 340B technology platform for over a decade, and they have turned to Sentry to assist them in managing efficiencies and compliance,” states Leonardi. “In many cases, multiple covered entities use different 340B vendors serving many of the same patients, who are going to the same pharmacies. This creates a multiple-vendor eligibility challenge for both covered entities and pharmacies. Without the Sentry 340B backbone, it’s very difficult to maintain 340B integrity and compliance when pharmacies are working with multiple 340B vendors.”
Sentry’s rules-based engine sorts through data from multiple covered entities, store locations and providers. It then applies logic to help determine which covered entity retains 340B eligibility for each prescription filled, managing a common compliance challenge. In addition, the 340B Technology Backbone helps address challenges unique to contract pharmacy executives by consolidating financial information from multiple covered entities and 340B vendors, and managing payments back to each covered entity. Without the 340B Technology Backbone, financial reporting and invoicing often requires additional head count.
“What this solution does is serve as a necessary technology backbone between the pharmacy and all the challenges that come their way in relation to the 340B Program,” says William Sander, PharmD, EVP of Sales for Sentry. “The pharmacies want to be good community partners by providing valuable services to covered entity patients in their communities. We help them manage the challenges they face and produce a seamless experience, both for the covered entities on one side and for the pharmacy executives on the other.”
The 340B Program was established in 1992 to help “stretch scarce federal resources as far as possible, reaching more eligible patients and providing more comprehensive services” by reducing the amount that hospitals and other covered entities spend on outpatient drugs. Today, covered entities partner with contracted pharmacies in their area to make medications more accessible and convenient, helping to improve medication adherence, improve outcomes, and reduce readmissions.
About Sentry Data Systems
Located in Deerfield Beach, Fla., Sentry Data Systems, Inc. provides technology solutions that help hospitals address their three biggest challenges: reducing total cost of care, managing compliance and producing better outcomes. More than 3,700 hospitals, integrated delivery networks (IDNs) and pharmacies across the country rely on Sentry’s integrated platform for their analytics, procurement, drug utilization and compliance solutions. Since 2003, Sentry’s solutions have processed more than 4.1 billion dispensations on 500 million claims and currently provide decision support for more than 55 million patients. To date, we have helped hospitals, hospital systems and IDNs realize nearly $2 billion in savings to help them better meet their safety net mission and continue serving their communities.