New year, same exploitation of the 340B program
It’s a new year, but – unfortunately for patients – problems with the 340B Drug Pricing Program remain.
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New year, same exploitation of the 340B program.
It’s a new year, but – unfortunately for patients – problems with the 340B Drug Pricing Program remain.
New year, same exploitation of the 340B program.
It’s a new year, but — unfortunately for patients — problems with the 340B Drug Pricing Program remain. Without action from Congress, large nonprofit hospitals across the country will continue to exploit a program meant to help vulnerable patients get the medicines they need.
It’s well documented that the 340B program is not working for patients. Under the program, participating hospitals buy 340B medicines at discounts so steep (averaging nearly 60%) that some medicines may only cost them a penny. The expectation is that hospitals use the money they save to help vulnerable patients access discounted medicines. But the program lacks any kind of meaningful transparency or accountability standards. As a result, many hospitals are taking advantage of the program — pocketing these savings for themselves instead of using the money to lower cost sharing on medicines for vulnerable patients.
Here’s how abuse of the 340B program is hurting patients:
Commonsense reforms are needed to get 340B back on track and working for patients. For starters, Congress should require hospitals to share 340B discounts on medicines with eligible patients. Congress should also strengthen eligibility requirements to ensure participating hospitals are truly supporting underserved communities.
A new year provides lawmakers a new opportunity to fix the program and make sure it’s working for vulnerable patients.
Learn more at PhRMA.org/340B.