The 340B Program was passed by Congress in November 1992 and signed into law as part of the Veterans Health Care Act. The primary goal is to improve prescription drug access to the uninsured, underinsured and unemployed patients, as well as for patients with emergent health conditions.
Pharmaceutical manufacturers are required to provide front-end discounts on covered outpatient drugs purchased by specified government-supported facilities, or “covered entities” who serve the nation’s most vulnerable patient populations. The 340B Program allows patients served by covered entities to purchase drugs at an average 51% discount compared to retail. These patients are often low income, underinsured or uninsured. (Source: 340B Health)
Ponaman Healthcare Consulting (Ponaman) has been working with the public sector on 340B Program strategy since 2001. Our key focus is to assist health plans, hospitals and clinics to determine the feasibility of the 340B Program to enhance cost-savings and revenue opportunities. Our analytical methods include data mining and continuous monitoring to better advise our clients and help their decision-making process. Once the decision has been made to move forward with a 340B Program, Ponaman will assist with its program development and implementation.
Our 340B program assessment and program development efforts include collaborative efforts with large county safety net programs, children’s hospitals, disproportionate share hospitals (DSH), community health centers, Ryan White programs, and departments of public health.
We work with several entities on 340B Program strategy to include:
- Health care organizations wanting to qualify for the 340B Program
- Covered entities, to help them fully benefit from program participation
Over the years, our efforts have led to a combination of cost savings and revenue enhancements of well over $3 billion for state agencies and safety net providers across the U.S. In addition to the notable financial benefits, other significant benefits include:
- Decreased drug spending
- Affordable access
- Continuation of benefits
- Enhanced purchasing and distribution strategy
- Expedited dispensing
If you’re considering qualifying for the 340B Program, Ponaman Healthcare can help. Call 480-421-9965 – your first consultation is complimentary.