Healthcare Economist July 3, 2024
The 340B Drug Pricing Program is a federal initiative designed to help certain healthcare providers, known as “covered entities,” stretch their resources to better serve vulnerable and underserved patient populations. Created in 1992, the program requires pharmaceutical manufacturers to sell outpatient drugs at significantly discounted prices (typically 25% to 50% off) to eligible hospitals, clinics, and health centers that care for a large number of uninsured and low-income patients. These covered entities can then use the savings from these discounted drug purchases to provide more comprehensive services, reach more eligible patients, and offer additional programs that enhance patient care and access in their communities. Proponents of the 340B program claim that it improves access to care for underserved populations without...
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