The federal government’s 340b program is designed to promote access to affordable medications for the most vulnerable or underserved patient populations while helping to stretch federal resources. This program mandates that drug manufacturers must provide outpatient drugs at greatly discounted prices to certain qualifying hospitals and healthcare organizations. Today, more than one third of all hospitals nationwide participate in the 340b program and benefit from these drug discounts. It is estimated that 95% of all marketed drugs have 340b discounts associated with them and the average savings is approximately 25-50% of wholesale pricing.
Specialty drugs are an important area for 340b programs, as these therapies tend to be higher in cost and the market for specialty medications is growing rapidly. As a result, Evers Pharmacy frequently collaborates with qualified 340b hospitals and healthcare organizations, providing access to more affordable drugs while maintaining our unwavering focus on clinical excellence, patient education and premier service.
It’s also important to note that 340b can be difficult for hospitals and healthcare organizations to manage due to complex compliance, audit and inventory requirements. For example, organizations must prevent diversion of these drugs to non-qualified patients and non-qualified clinics, or for medical needs outside the mandated scope of services.
That’s why Evers Pharmacy has developed policies and procedures to help mitigate these risks, including:
Verifying patient eligibility.
Preventing duplicate discounts for Medicaid-eligible prescriptions.
Storing all data needed for audits with regard to purchases, patient eligibility, prescription records and billing.
Learn more about this program, and find out how Evers Pharmacy collaborates with 340b-qualifying organizations by contacting us today.