on 340B is the latest iteration of a standoff between two pillars of the healthcare industry—hospitals and pharmaceutical manufacturers—both of which have powerful lobbies in Washington D.C. The longstanding conflict revolves around a program that was launched in 1992 when Congress empowered the Centers for Medicare & Medicaid Services topharmaceutical companies to reduce their outpatient drug prices for hospitals that serve low-income populations. The discount currently ranges from 20-55%.
While the program was relatively small in scope in 1992, it has ballooned in size. As I’ve written in previoustoday. 340B saw a 47% compound annual growth rate in the five years between 2014 and 2019. That growth rate does not correspond to similar growth in the number of uninsured or low-income patients. It does, however, correspond with the passing of the Affordable Care Act of 2010,one purpose of which was to provide government subsidized healthcare insurance to Americans who didn’t have it.
Amendments to 340B would not solve the underlying problems that make it necessary: the way we pay for things. Hospitals over-rely on 340B because they struggle to control the cost of care and continue to operate on a transaction model. Myriad factors stand between providers and economic sustainability. Insufficient accountability for outcomes means that payment is often disconnected from care quality.
Source: News Formal (newsformal.com)
CMS Medicare Healthcare Delivery Pharmaceuticals
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