Manage episode 516337582 series 3660971
In our latest episode of our business focused podcast 340B Leaders Upfront, host Anna Mangum sits down with Ali Farzad, Chief Executive Officer of CompassRx and Alice Cheng, CompassRx Chief Operating Officer. CompassRx's solution leverages AI to streamline and improve 340B operations, such as signficantly increasing the capture of in-house prescriptions.
Key Topics Covered:
340B Career Trajectories
Ali and Alice describe their 340B career trajectories and what inspired them to co-found CompassRx, having worked as colleagues at two different healthcare AI startups, Aegis Ventures and Ascertain as well as time at CVS Health and a prestigious national consulting firm. In addition to telling us about their compelling life stories, they discuss how their respective additional experiences on the provider side inform their strong command of the many operational and other challenges facing 340B covered entities.
Deploying AI to Increase 340B Capture Rate
Ali discusses how CompassRx partners with its health system and community health center clients to create customized AI-powered solutions to increase their 340B in-house pharmacy capture rate, which results not only in significant savings but improved patient outcomes. Alice outlines the benefits and risks of AI and how covered entities can increase efficiency while also ensuring patient safety and data privacy and security.
Ongoing Policy Challenges
Ali and Alice express their concerns about the ongoing challenges facing covered entities, including contract pharmacy restrictions and the potential shift in the 340B program from an upfront discount to a rebate model. They discuss ways to mitigate the damage and detail how AI is a powerful tool for addressing escalating compliance demands on already strained 340B workflows.
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7 episodes