HRSA estimates it will take the average covered entity 104 hours per year to comply with its 340B rebate pilot program. Does this sound realistic to you? Tell HRSA how 340B rebates will burden your organization by Nov. 12. #Protect340B https://lnkd.in/d8sf-KUS
340B Matters
Hospitals and Health Care
Alexandria, Virginia 2,048 followers
Patients Over Profits
About us
340B Matters seeks to protect this vital program for nonprofit healthcare facilities from those that would severely restrict access to the 340B program. We support patients over profits. Congress enacted the 340B program in 1992 in reaction to the rapidly-increasing costs of pharmaceutical drugs. This steep increase in drug prices created extreme pressure on safety-net hospitals that provided care to our most vulnerable populations as well as other nonprofit healthcare facilities. Drug companies are not required to join the 340B program, but in order to participate in Medicaid and Medicare markets, they must agree to provide discounted outpatient drug rates to safety-net providers through the 340B program. The purpose of the 340B program is to have drug manufacturers provide valuable savings from the normal market price to help safety-net hospitals offset operational costs that would normally be absorbed by the federal, state, and local governments so they do not have to increase taxes beyond their current levels of funding. Hospitals, as well as other nonprofit healthcare facilities, use 340B savings as an integral part of their required community benefit by funding a variety of programs in their communities that improve access to care for their citizens. The program helps fund critical services including patient counseling and education, transportation to care facilities, neonatal services, emergency care, language translation services, etc. Other 340B programs include free and discounted medicines, immunizations, medication therapy management for HIV/AIDS and cancer, offsetting hospitals’ uncompensated care, and a host of other programs that improve quality of care for our nation’s most vulnerable members.
- Website
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http://340bmatters.org/who-are-we/
External link for 340B Matters
- Industry
- Hospitals and Health Care
- Company size
- 2-10 employees
- Headquarters
- Alexandria, Virginia
- Type
- Nonprofit
Locations
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Primary
Get directions
5680 King Centre Dr
Alexandria, Virginia 22315, US
Employees at 340B Matters
Updates
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Here’s an interesting window into how Big Pharma juices profits: by jacking up prices of hundreds of drugs each year. They’ve been doing it for decades — and many increases exceed the rate of inflation, triggering Medicare and Medicaid rebates. "To me, that is an admission through action that there's a lot of money to be made outside of those government programs, which makes paying those fees and penalties, quote, worth it," says Antonio Ciaccia, CEO of drug price research firm 46brooklyn. Think about this the next time you hear Big Pharma trying to tell you 340B is driving up drug prices. #Protect340B https://lnkd.in/e-3ihXqX
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Becker's Healthcare reports that hospitals are bracing for “a fundamental dismantling of the 340B drug pricing program” under HRSA’s rebate pilot program, with huge operational and financial problems. #Protect340B https://lnkd.in/gJiirzfj
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Big Pharma wants to take control of 340B so they can pour billions in revenues into their own bulging pockets. Read why turning 340B into a rebate model is stinking thinking: https://lnkd.in/ggbuAwWu
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It’s worth reading the American Hospital Association’s response to HRSA’s estimates that hospitals will need to devote just two hours a week, or 104 hours per year, to use third-party platforms to manage the 340B rebate pilot program. By contrast, annual costs for hospitals could exceed $400 million, with individual hospitals incurring operational costs from $150,000 to $500,000, figures that don’t include the money they’ll need to float to drug companies while they hope to be approved for rebates. “As it is, the agency has estimated more than 1.5 million hours of labor required per year to comply with the rebate model’s data submission requirements,” AHA writes. “These numbers are extraordinary, especially for a pilot program limited to 10 drugs. But the burdens will far exceed even these estimates.” Read more here. https://lnkd.in/dNKWvZAd #Protect340B
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The 340B rebate pilot program is bad news for the healthcare safety net. A 340B Health survey found widespread negative financial and operational impacts for hospitals: ▪️Millions of dollars floated to pharma companies to purchase drugs at higher prices ▪️Higher administrative costs ▪️Jeopardizes the ability to provide uncompensated care, offer free or discounted drugs, and provide essential services to low-income and rural patients Contact your senators and congressional rep today and let them know how 340B rebates will jeopardize your community’s safety net mission. https://lnkd.in/eaUVmta #Protect340B
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We tip our hat to Paul W. Abramowitz, CEO of the AMERICAN SOCIETY OF HEALTH-SYSTEM PHARMACISTS, INC. (ASHP), for his response to a recent Wall Street Journal op-ed parroting PhRMA’s anti-340B messaging and support for rebates. #Protect340B https://bit.ly/4o7uM8K
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Our latest blog shows how the drug industry continues its efforts to eviscerate the 340B Drug Discount Program. Read more here: https://lnkd.in/ggbuAwWu
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HRSA is seeking public comment through Nov. 12 on its estimated burden for a covered entity to submit claims data for its 340B rebate pilot program. ▪️ Does 104 hours per year sound realistic to you? ▪️ Are you OK with safety net hospitals devoting extra time, labor, and financial resources to comply with Big Pharma rebates? Tell HRSA that 340B rebates add up to a bad deal for safety net providers. #Protect340B https://bit.ly/4mOlo8F
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In 1992, a bipartisan Congress created the 340B program as an upfront discount to help safety net providers cover services that regularly lose money. Now, HRSA’s 340B rebate pilot program throws that into jeopardy. Read our latest blog for three reasons why 340B rebates are stinking thinking. #Protect340B https://lnkd.in/ggbuAwWu
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