SUNRx Acquires eAudit Solutions to Create Comprehensive, Compliance-Focused 340B Solution for Covered Entities
SAN DIEGO, August 1, 2017 – SUNRx, a compliance-focused 340B contract pharmacy administrator, announced that it acquired eAudit Solutions, which provides 340B software and services to hospitals, to offer covered entities an end-to-end solution by adding split-billing capabilities to 340B contract pharmacy management.
SUNRx and eAudit Solutions have partnered since 2013 to deliver comprehensive 340B administration to hospitals, health systems and federally qualified health centers. SUNRx leads in its hands-on approach to compliant 340B contract pharmacy management, and eAudit Solutions’ split-billing and invoice analysis solutions have delivered more than $203 million in savings.
“We have brought to market both compliance and value for covered entities, and together we are even better positioned to drive enhanced value to our clients,” said Jill Simoes, General Manager of SUNRx. “This acquisition gives covered entities access to two industry-leading 340B management solutions through one customer-centric organization – and a roadmap of continuing innovation to accelerate savings.”
“We have always admired how SUNRx delivers convenience and value to its customers,” said Chris Giese, CEO, eAudit Solutions. “Like eAudit Solutions, SUNRx is focused on compliance and high-touch customer service, which aligns the two organizations well both in our shared mission and operational priorities.”
eAudit Solutions provides 340B software and services for disproportionate share hospitals, sole community hospitals, critical access hospitals, and children’s hospitals. Its split-billing solution manages 340B and non-340B transactions in mixed-use settings to help ensure covered entities’ compliance, allowing hospitals to manage inventories in a virtual environment. The eAS Invoice Analysis and Reconciliation System is a real-time web-based tool that identifies, reports and recovers contract pricing discrepancies, delivering a unique value proposition to 340B-covered entities.
SUNRx has extensive experience implementing and managing 340B programs since 2006, and provides industry-leading audit support as evidenced by its positive audit findings. SUNRx offers access to a market-leading 340B-contracted pharmacy network to provide patients with convenient access to 340B medications in support of its clients’ 340B programs. Clients have access to comprehensive 340B services and fully automated systems that reduce regulatory risks, safeguard against drug diversion and duplicate discounts, and use lower-of pricing logic to deliver the lowest-cost option available.
The 340B Drug Discount Program is a federal program that requires manufacturers to provide significant discounts for outpatient drugs to eligible healthcare organizations, known as “covered entities”. The program is designed to provide financial benefits to covered entities that serve low-income and uninsured patients, enabling them to expand healthcare services and improve access to more affordable medications.
About eAudit Solutions
Founded in 2005, eAudit Solutions delivers innovative 340B software and services enabling institutional pharmacies to achieve greater savings, efficiency and compliance. With more than 12 years of experience, eAudit Solutions is an industry leader in pharmaceutical supply chain, 340B software and perpetual auditing. eAudit Solutions’ Invoice Analysis and Reconciliation System is a real-time web-based tool that identifies, reports and recovers wholesaler contract pricing discrepancies. eAudit Solutions’ 340B Replenishment Software is a subscription-based web tool that enables virtual inventory management and replenishment. eAudit Solutions’ technology works with every pharmacy information system, drug wholesaler and group purchasing organization. For more information, go to: www.eauditsolutions.com
SUNRx is a compliance-focused 340B administrator that helps covered entities, such as hospitals and Federally Qualified Health Centers, maximize their 340B programs so they can expand access to affordable medications for low-income and uninsured patients. SUNRx provides comprehensive, auditable technology solutions and high-touch customer service with a hands-on approach to program implementation, contract pharmacy setup and ongoing, compliant 340B program management. SUNRx also offers integrated pharmacy benefit management (PBM) through its parent company, MedImpact Healthcare Systems, Inc., an independent, trend-focused PBM. For more information, go to: www.sunrx.com