340B Drug Pricing Program
The 340B Drug Pricing Program is a US federal government program that was created back in 1992. The program requires drug manufacturers to provide eligible outpatient drugs to eligible health care organizations at significantly reduced prices.
The intent of the 340B program is to allow eligible healthcare organizations, such as SUNY Upstate, to “stretch scare federal resources as far as possible, reaching more eligible patients and providing more comprehensive services.”
The 340B drug pricing program is a vital lifeline for our safety-net providers and offers support for critical health services and programs in our communities. The 340B program is narrowly tailored to reach only hospitals that provide a high level of services to low-income individuals or that serve isolated rural communities. Savings from the 340B program help hospitals meet the healthcare needs of underserved patients across the country and does not rely on taxpayer dollars.
340B and the Upstate Outpatient Pharmacy
Here at Upstate, we utilize our 340B savings to help further benefit our patients, with a strong focus on low-income, uninsured, and under-insured populations. 340B savings aide in offsetting the costs associated with providing care for these patients.
Savings from participation in the 340B program have fueled pharmacy-lead community benefit initiatives such as:
- Medication Assistance Program
- Meds-To-Beds services
- Prior Authorization services
- In-house Retail/Specialty Pharmacy Program
These services aim to provide easy access to medications, affordability and increased therapy adherence for our most vulnerable patients.