Episode 6: Integrated 340B TPA + PBM Portfolio: A Conversation with PharmaForce Leadership

In the latest episode of our business-focused podcast 340B Leaders Upfront, host Anna Mangum sits down with David Valentine, Chief Operating Officer of the PharmaForce PBM and Anthony Velasquez, PharmaForce’s Chief Product Officer. PharmaForce is a pharmacy solutions provider, third-party administrator (TPA), and PBM that provides 340B covered entities (CEs) and self-insured employers with TPA services such as inventory management, contract pharmacy, and split billing implementation, referral capture, and 340B ESP reporting, as well as a PBM offering that is optimized for 340B CEs. It provides a range of 340B pharmacy solutions for health systems and clinics.

Key Topics Covered: 

340B Career Trajectories

David and Anthony describe their pharmacy and 340B career trajectories. David discusses his 30+ year career as a pharmacist in retail, hospital and health plan pharmacy in Michigan, and most recently with a PBM. Anthony describes his career path in business and compliance roles with 340B CEs in the Philadelphia area, starting with a community health center.

One Stop Shopping: TPA + PBM

Anthony outlines PharmaForce’s portfolio which integrates pharmacy solutions, third-party administration and a PBM. He highlights the firm’s vision to be a “one-stop shop” for 340B CEs, who without this option often find themselves having to secure and manage contracts with a large array of vendors.

PharmaForce PBM

David describes the PharmaForce PBM, which the firm built in-house, starting with the claims adjudication engine. Due to their success in deploying the PBM for CEs, PharmaForce expanded the market to include self-funded health plans. David highlights the benefits to their clients of an integrated TPA and PBM. He also shares an exciting success story where a hospital was able to significantly reduce its drug costs.

Ongoing Policy Challenges

Anthony discusses the ongoing challenges of contract pharmacy restrictions and the potential shift in the 340B program from an upfront discount to a rebate model. He details how PharmaForce supports clients in addressing these and other emerging challenges and encourages 340B professionals to continue to develop their skillset so they can seize opportunities to improve pharmacy care delivery.

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