The 340B program is designed to make affordable medications accessible to the underserved or vulnerable patient populations while, at the same time, stretching federal resources. This program orders that drug manufacturers should offer outpatient medications at highly discounted prices to specific qualifying hospitals and healthcare organizations. Currently, more than one-third of all hospitals across the nation join in the 340B program and gain from these medication discounts.
Specialty medications are a significant area for 340B programs, as these are generally higher in cost and the market for these medications is expanding. It is for this reason that Community Health Rx constantly works with qualified 340B hospitals and healthcare organizations, offering access to more affordable medications while keeping our steadfast focus on patient education, premier service, and patient excellence.
It is necessary to note that 340B can be challenging for hospitals and healthcare organizations to manage because of complicated compliance, audit, and inventory conditions. For instance, organizations should avoid diversion of these medications to non-qualified clinics and patients, or for medical requirements beyond the authorized scope of services. This is why our pharmacy implements strict procedures and policies to help diminish these risks including, but not limited to, the following:
- Authenticating patient eligibility
- Preventing double discounts for Medicaid-eligible prescriptions
- Keeping all data needed for audits relating to patient eligibility, purchases, billing, and prescription records
For more information about this and how we can help 340B-qualifying organizations across the Tri-State area, don’t hesitate to get in touch with us.