Who We Are and Why We Started CompassRx
At CompassRx, we’re a team of AI specialists and 340B program experts who saw a pressing need for innovation in a critical space. We noticed that today’s challenges were being addressed with outdated solutions—and we knew we could make a real difference.
Our mission is simple: to lift the administrative burden off pharmacists by automating their operational tasks, rather than adding yet another software tool to their already overwhelming arsenal.
The Challenges We’re Tackling
The 340B program was established to empower safety-net providers to stretch their resources and deliver more comprehensive care to vulnerable patient populations; it remains a cornerstone of support for these communities. However, despite its undeniable benefits, stakeholders in the 340B ecosystem face mounting challenges that threaten the program’s sustainability.
Key Challenges
- Staffing Shortages: Since 2012, the U.S. has seen over a 60% decrease in the number of pharmacy school applicants. Faced with shortages of pharmacy personnel, teams are overburdened and risking burnout. This shortage limits hospitals’ ability to effectively manage their pharmacy operations and 340B functions.
- Regulatory Uncertainty: The 340B landscape is in constant flux, leaving health systems scrambling to navigate ever-changing compliance. A number of different proposed bills in Congress could significantly alter the program, creating a climate of uncertainty for covered entities.
- Contract Pharmacy Restrictions: Over the last few years, 37 drug manufacturers have placed restrictions around 340B covered entities using contract pharmacies. With these restrictions, many systems’ 340B programs are at risk and require new methods / tools to adapt.
- Audits and Compliance: The Health Resources and Services Administration (HRSA) conducts audits on covered entities regularly to ensure program compliance. Covered entities and their pharmacy partners must ensure every detail aligns with federal regulations to avoid severe penalties.
The Opportunities Ahead
These issues underscore the urgent need for innovative, sustainable solutions to protect the 340B program and the communities it serves. By leveraging new technologies and fostering collaboration, stakeholders can navigate these challenges while preserving this essential lifeline for vulnerable populations. At CompassRx, we’re committed to democratizing these innovations, ensuring that cutting-edge solutions are accessible to every health system, big or small.
Together, we’re not just solving problems—we’re shaping the future of healthcare.
How Does CompassRx Fit In?
At CompassRx, we proudly support all covered entities within the 340B program, including:
- Disproportionate Share Hospitals (DSHs)
- Rural hospitals
- Federally Qualified Health Centers (FQHCs)
- Ryan White clinics
- And more!
If you're unsure whether your organization is a good fit, we’re here to help—just reach out!
Not a One-Size-Fits-All Solution
We know every covered entity faces unique challenges. That’s why CompassRx focuses on leveraging AI to address pressing issues in a frictionless, customizable way. Our current AI solutions include:
- Patient Capture and Engagement: By automating patient engagement, we help patients better understand the resources available to them, improving pharmacy performance and patient health outcomes.
- Referral Capture: Our platform streamlines the referral capture process to minimize the strain on your team while maximizing your 340B opportunity.
- Compliance Review: We provide robust tools to support your compliance efforts, helping you meet regulatory requirements with confidence.
We Want to Hear From You
Whether or not these challenges align with your experience, we’d love to hear your thoughts. What tasks are taking up your time that AI could help with? Share your insights and help shape the future of CompassRx solutions.
