340B Drug Pricing Program
The 340B Drug Pricing Program resulted from enactment of Public Law 102-585, the Veterans Health Care Act of 1992, which is codified as Section 340B of the Public Health Service Act. Section 340B limits the cost of covered outpatient drugs to certain federal grantees, federally-qualified health center look-alikes and qualified disproportionate share hospitals. Significant savings on pharmaceuticals may be seen by those entities that participate in this program.
The 340B Program provides substantial discounts on pharmaceutical products to more than 13,000 eligible entities such as health centers, disproportionate share hospitals and Indian Health Service grantees. The 340B program has cut drug costs for participants by as much as 50 percent, saving an estimated $5 billion in discounted prescription drugs. These savings enable participants to provide more direct health care services. Participation in the 340B Program is increasing at a rate of more than 5 percent per year.
Read more about this topic: Healthcare Systems Bureau
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