HRSA, which oversees the 340B program, has recognized the need for hospitals to partner with community and specialty pharmacies. Despite the demonstrated benefits to patients, these arrangements have been criticized by drug companies.
340B Drug Pricing Program Guides and Reports
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The 340B Drug Pricing Program allows hospitals caring for large numbers of underserved patients to stretch scarce federal resources and provide more comprehensive care by requiring drug companies to offer discounted prices on certain outpatient drugs.
In 2020, the most recent year for which this information is available, tax-exempt hospitals participating in the 340B drug savings program provided $84.4B in total benefits to their communities. Total community benefits for 340B hospitals increased from $67.9 billion in 2019 to $84.4 billion in 2020, an over $16 billion or 25% increase, even in the midst of an unprecedented pandemic.
Over the past 30 years, the 340B Drug Pricing Program has played an essential role in ensuring health care providers have the neces
Background
In 1992, Congress created the
Tax-exempt hospitals are required to publicly report on the ways in which they improve the health of the communities they serve yearly through the IRS Form 990 Schedule H, which is publicly available. In 2019, the most recent year for which this information is available, tax-exempt hospitals participating in the 340B drug savings program provided $67.9B in total benefits to their communities.
Tax-exempt hospitals are required to publicly report on the ways in which they improve the health of the communities they serve yearly through the IRS Form 990 Schedule H, which is publicly available. In 2018, the most recent year for which this information is available, tax-exempt hospitals participating in the 340B drug savings program provided $67.9B in total benefits to their communities.
Improving the health of their communities is at the heart of every hospital’s mission. Tax-exempt hospitals are required to publicly report on the ways in which they improve the health of the communities they serve yearly through the IRS Form 990 Schedule H, which is publicly available.
In 2015 alone, the most recent year for which data is available, those tax-exempt hospitals participating in the 340B drug savings program provided $51.7B in total benefits to their communities.