We should stick with plans to reform the program, but over a long enough period of time that hospitals won’t experience immediate and drastic funding cuts. The 340B Drug Pricing Program was designed to help organizations serving a disproportionate number of disadvantaged and low-income patient populations to stretch federal resources as far as possible to provide more comprehensive services. When the hospital treats a Medicare enrollee, it will typically receive a payment that is significantly greater than its costs. Savings generated from the 340B program come from discounted prices for outpatient drugs offered by manufacturers that are then sold to patients at a reduced cost. Exclusive tool: The Oncology Medicare Market Explorer . Covered entities that are subject to the reimbursement cut must add the modifier "JG" to claims when the drugs were purchased at the 340B rate. These savings are meant to offset the costs of uncompensated care and unprofitable services, but critics of the program claim that some providers have abused 340B as a stream of new revenue. Fortunately, the federal government created a program for hospitals that care for a disproportionate share of low-income patients, whereby they can purchase those medicines at a discount. First and foremost, we shouldn’t make overnight changes. HRSA estimates that through 2013, the program saved provider organizations $3.8 billion. Receives health services from the covered entity that are consistent with the services for which grant funding has been provided to the entity. For more than 25 years, the 340B Drug Pricing Program has provided financial help to hospitals serving vulnerable communities to manage rising prescription drug costs. Editor's note: This popular story from the Daily Briefing's archives was republished on Sept. 7, 2018. Since the program’s creation, however, concerns have grown about whether the 340B program has strayed from its original purpose. Around the nation: Southern California fires cause air quality hazards across state, CMS won't take down Hospice Compare while fixing errors, spokesperson says, Moody's says 2018 outlook for for-profit hospitals is stable, An 18-year-old's emotional journey to find the nurse who saved his life, No, the uninsured don't use the ED more than the insured, study finds. 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Program Income/ Savings •340B drugs can be provided to insured patients •Entities can receive program income/ savings from the difference between the 340B price and the insurance reimbursement rate •Grantees are required to use all 340B savings for activities that “promote the purpose … The 340B Drug Pricing Program was created in 1992 by the Federal Government to provide significant discounts on outpatient prescription drugs. But new cuts to the program could pass increased costs from hospitals to consumers. Visit … In other cases, when the hospital cares for Medicaid recipients (a program that often doesn’t cover hospital costs adequately), the discounts once again reduce their losses. Influenza: a deadly risk in schools before COVID, We need a mental health infrastructure bill, A new system for measuring the story of my life. The HRSA 340B Prime Vendor Program enables 340B covered entities to obtain pharmaceutical prices lower than 340B statutory prices and access cost-saving contracts for value add pharmacy items such as diabetic supplies, vaccines, diagnostic test kits, pharmacy hardware, software solutions and more. The federal 340B Program is a drug price control program that allows qualifying providers, generally hospitals, specialty clinics and their associated outpatient facilities serving uninsured and low-income patients in rural communities, to purchase outpatient drugs from manufacturers at discounted prices. Participation in the 340B Program has grown from nearly 9,700 covered entities in 2010 to 12,700 in 2020. Since its induction in 1992, the 340B Drug Pricing Program, managed by the Health Resources and Services Administration (HRSA), has been responsible for helping eligible covered entities stretch scarce federal resources and increase services to patients of the covered entity. Contact: If you are in the listed states/territories and would like to enroll, email the 340B Prime Vendor Program or call 1-888-340-2787. However, hospitals acquiring more independent physician practices, which enable the formerly independent practices to access the hospitals’ 340B discounts, can drive up costs for patients and payers, in addition to reducing patient access to community treatment options. The 340B drug pricing program helps hospitals care for vulnerable patients in some of the most underserved areas of the country. The program is called the 340B Drug Pricing Program and, unfortunately, hospitals are taking advantage of the program, leaving taxpayers on the hook.
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