Explore News, Research & Advocacy Resources on the 340B Drug Pricing Program
The 340B Drug Pricing Program was established by Congress in 1992, intended to expand access to affordable prescription medications and healthcare services for low-income and uninsured Patients. Through the program, biopharmaceutical manufacturers provide outpatient drugs at steep discounts to participating healthcare entities – known as “covered entities” – that provide care to these vulnerable populations. Over the past three decades, the program has experienced rapid growth – with discounted purchases under 340B reaching a total of $66.3 billion in 2023. Profits generated through the 340B program for hospitals and covered entities have grown by over 23% in the last year alone. In contrast, the rate of charity care provided to the Patients the program is meant to support has declined since 2018, raising concerns about access to necessary medical services. Currently, 69% of 340B disproportionate share hospitals (DSHs) provide charity care at rates that are lower than the national average for all hospitals.
BioNJ urges federal lawmakers to support policies that would institute greater transparency and oversight over the 340B Drug Pricing Program in order to ensure that the program is serving its original goal of ensuring that vulnerable communities can access the therapies they need – Because Patients Can’t Wait ®.
BioNJ encourages you to explore the resources below to learn more about 340B.
News Media
- Garden State Times: Executive director of Patients Come First: ‘The biggest flaw in the 340B program is that the discounts don’t have to go to the beneficiaries’ | November 2024
- The Wall Street Journal: Hospitals Often Don’t Help Needy Patients, Even Those Who Qualify | November 2022
- The New York Times: How a Hospital Chain Used a Poor Neighborhood to Turn Huge Profits | September 2022
- The Wall Street Journal: Big Hospitals Provide Skimpy Charity Care—Despite Billions in Tax Breaks | July 2022
Research
- IQVIA: The 340B Drug Discount Program Grew to $124B in 2023 | May 2024
- Health Capital Group: The 340B Drug Purchasing Program and Per-Enrollee Medicaid Costs | May 2024
- PhRMA: By The Numbers: 340B Is Driving Up Health Care Costs | March 2024
- AJMC: Income Differences Between Locations of 340B Entities and Contract Pharmacies | June 2023
- IQVIA: Are Discounts in the 340B Drug Discount Program Being Shared with Patients at Contract Pharmacies? | September 2022
- PhRMA: 340B Drug Discount Program Pocket Card | September 2022
- Health Capital Group: Measuring the 340B Drug Purchasing Program’s Impact on Charitable Care and Operating Profits for Covered Entities | December 2022
- Alliance for Integrity and Reform of 340B: Are New Jersey’s 340B Hospitals Putting Profits Over Patients?
- Alliance for Integrity and Reform of 340B: 340B Hospitals: What’s The Story In Your State?
Third-Party Viewpoints
- NJBIZ (Opinion): Reform Needed | November 2024
- Forbes: HHS Must End Unauthorized Administration Of 340B Drug-Discount Program | November 2024
- The Hill (Opinion): Reforming 340B vital for affordable medication for low-income patients| September 2024
- Garden State Times: Gov’t Spending Watchdog: Federal drug program serving NJ hospitals benefits ‘special interests’ over patients | August 2024
- Crain’s New York Business (Opinion): 340B Contract Pharmacy Mandates Are Not “Costless” To State Taxpayers | June 2024
- NJ.com (Opinion): This program intended to help the sick is actually an outrageous failure | May 2023
- The Hill (Opinion): Health care providers are raking in profits by exploiting programs meant for the poor | June 2023
