Avella to Partner with Sentry Data Systems on 340B Drug Discount Program Efforts
Avella has just announced a new partnership with Sentry Data Systems, a leading provider of technology systems that help hospitals and clinics reduce costs, manage compliance and produce better outcomes. This collaboration will allow both organizations to leverage their strengths in order to better serve covered entities participating in the 340B drug discount program.
“We are honored that Sentry has selected Avella as a strategic partner in this initiative,” said Nathan Downhour, Executive Vice President of Strategic Programs for Avella. “We recognized that they are a leader in this space and as such, their efforts have helped thousands of healthcare organizations provide affordable drugs to providers participating in the 340B program.”
The federal government’s 340B program requires that drug manufacturers provide outpatient drugs at discounted prices to eligible hospitals, clinics and other eligible providers. The program’s intent is to help stretch scarce federal resources as far as possible, so that covered entities can reach more eligible patients and provide more comprehensive services. Originally intended only for certain hospitals serving a large population of indigent patients, the Affordable Care Act expanded the program to allow additional hospitals, including free-standing cancer hospitals and children’s hospitals, to participate.
However, 340B can be very difficult for hospitals and healthcare organizations to manage, due to complex compliance, audit and inventory requirements as well as ongoing regulatory changes. As a result, these entities turn to Sentry’s 340B solutions to help them manage the challenging processes inherent to 340B adherence, oversight and decision-making. As Sentry has seen growth in providers’ use of specialty medications to treat complicated health conditions, they’ve also seen these providers struggle with how to gain access to specialty medications and how to manage the high cost of these therapies. By joining forces with Avella Specialty Pharmacy, Sentry’s 340B customers will now be able to incorporate specialty medications as part of their 340B program and will have improved access to hard-to-obtain drugs. In addition, they can leverage Avella’s expertise to help ensure medication adherence, improve outcomes and reduce readmissions of patients with complex health concerns, such as cancer, rheumatoid arthritis, Crohn’s disease, multiple sclerosis, hepatitis and HIV/AIDS.
“Our goal is to provide a total pharmacy management solution for our customers,” said Sentry’s CEO and founder, Travis Leonardi, RPh. “As a recognized leader in pharmacy utilization management, optimization and analytics, our customers count on us to help solve their pharmacy business challenges. Our relationship with Avella helps strengthen our customer’s clinical capabilities, as well.”
“There is incredible synergy between our two companies as we both understand the importance of merging advanced technology with clinical expertise. Yet, we cover different ends of the 340B spectrum,” said Dr. William T. Sander, PharmD, Executive Vice President of Sales for Sentry. “Avella’s long-standing history of clinical excellence, and ability to effectively partner with practices, makes them an ideal partner for Sentry.”
Sentry’s proprietary technology drives an integrated platform for advanced analytics, procurement, drug utilization, inventory, audit and compliance solutions. The company also has more than a decade of 340B experience and, like Avella, employs a team of pharmacists, support staff and clinical professionals. Avella will bring nearly two decades of expertise in the specialty pharmacy space to this partnership, including its roles in providing breakthrough medications and support to patients, as well as deep relationships with providers, payers and drug manufacturers.
About Avella Specialty Pharmacy
Headquartered in Phoenix, Arizona, Avella Specialty Pharmacy is a National Accredited Specialty Pharmacy, providing individualized care and support to patients since 1996. Avella's clinical pharmacists and staff members are experts in managing complex disease states and providing compassionate care. The company offers a nationwide distribution service to complement its retail locations. Avella reached 1,772th on Inc. magazine's 2014 list of the 5,000 fastest-growing private companies in the country. In addition, the Arizona Corporate Excellence Awards has named Avella Specialty Pharmacy as the fastest-growing private company based in the state. For more information, please visit www.avella.com.
About Sentry Data Systems
Located in Deerfield Beach, Fla., Sentry Data Systems, Inc. provides technology solutions that help healthcare providers address their three biggest challenges: reducing total cost of care, managing compliance and producing better outcomes. More than 5,400 hospitals, clinics, 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 5 billion dispensations on more than 650 million claims and currently provide decision support for more than 62 million patients. To date, we have helped hospitals, hospital systems and IDNs realize more than $2 billion in savings to help them better meet their safety net mission and continue serving their communities. To learn more, please visit www.sentryds.com