Episode 4: 340B Clearinghouse Game Changer: A Conversation with Tim Neylan, Chief Operating Officer of RxParadigm
In this episode of Inside 340B 360°, host Anna Mangum sits down with RxParadigm COO Tim Neylan. Tim reflects on his career journey from the IT services industry, including with drug manufacturers, to his current leadership role with RxParadigm. RxParadigm is a pharmacy technology services provider offering what Tim describes as the first neutral 340B claims clearinghouse. Tungsten+PLUS™ is a new system to resolve duplicate discounts that does not share data with the drug industry, something many in the 340B community believe could be a game changer in resolving one of the most hotly debated challenges in the 340B program.
Key Topics Covered:
Professional Roots in IT
Tim describes his pathway into 340B from health care IT and how his skills are transferable to the 340B space. He describes the mission orientation that motivates many professionals in the 340B program and the energizing nature of impacting the lives of patients.
Mission + Movement: Neutral 340B Clearinghouse
Tim outlines what RxParadigm describes as a neutral 340B clearinghouse and the experiences that motivated its founder Mesfin Tegenu to launch this solution with the ultimate aim of reducing drug costs and improving health outcomes. Through their platform, both covered entities and drug manufacturers have what Tim describes as a safe place to collaborate to address the challenge of preventing duplicate discounts.
Application of Clearinghouse to Medicare Maximum Fair Price
Tim discusses the promising application of the clearinghouse for identifying 340B discounts and MFP claims. The clearinghouse helps covered entities identify MFP claims that overlap with 340B and determine which discount is most applicable to them. The solution also helps manufacturers reimburse MFP claims on time and correctly.
Staying Ahead of the Curve on Federal Requirements
Tim discusses how RxParadigm’s neutral clearinghouse is a proactive step towards the centralized, neutral clearinghouse that is called for in pending federal legislation and solution to a long-time challenge.
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