Small rural hospitals have lost on average 39% of their 340B contract pharmacy savings due to drug manufacturers’ conditions on 340B pricing while larger, mostly urban hospitals have lost on average 23%, a hospital group’s member survey shows.
The finding
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Prescription drug sales at 340B-discounted prices grew 15.9% year-on-year from 2020 to 2021, drug industry consulting and contract research firm IQVIA reports, an annual growth rate below that for the two preceding years.
Last year, IQVIA reported that 340B sales
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Virginia Gov. Glenn Youngkin (R) yesterday signed legislation to stop insurers and their pharmacy benefit managers (PBMs) from discriminating against 340B grantee covered entities and their contract pharmacies. Hospitals are excluded from protection.
The new law takes effect July 1.
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“The 340B contract pharmacy program has seemingly fractured into 17 programs, one governed by the federal government and 16 others with their own standards determined by pharmaceutical manufacturers,” 340B Publisher and CEO Ted Slafsky observes in his latest column for
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Part 1 of Two-Part Deep Dive into One of the Most Important and Contentious Areas of 340B Program
While much of the 340B community’s attention has been focused on the contract pharmacy suits winding through the federal court system, there
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Second Sight Solutions, the drug industry contractor that collects 340B contract pharmacy claims data on manufacturers’ behalf through its 340B ESP portal, has revised the terms of use that covered entities must accept when they register to use the portal.
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In recent years, the federal 340B drug discount program has grown in importance for safety net facilities. Covered entities are continuing to battle the effects of the COVID-19 pandemic which lead to uncertainties including provider and staffing shortages, impacts on 340B eligibility, and revenue shortfalls. The financial stability of the 340B program is paramount to the care of these hard-hit communities.
Value-based payment programs, such as Medicare accountable care organizations, can be a critical pillar supporting your 340B program. Value-based payment programs provide data on patients and prescribers that create new opportunities to capture 340B discounts. Caravan Health has been able to help clients gain an average of $200,000 per ACO participant in additional 340B revenue by optimizing their programs with accountable care data.
Even covered entities that are experienced with 340B are often capturing less than half of available 340B discounts. That leaves the majority of these
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U.S. Rep. Fred Upton (R-Mich.), a former House Energy & Commerce Committee chair who 340B entities call a close ally, announced on Tuesday he will not seek another term in Congress.
“Even the best of stories has a last chapter,”
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The exclusion of 340B pricing for some hospitals on drugs to treat orphan conditions and diseases could be partially eliminated to slow “the rapid growth in approved rare disease treatments” and “their cumulative affordability to the health system,” an influential
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