January 12, 2021

An Inside Look at the Latest Governmental and Industry Developments Shaping the 340B Program 

Jeff Spencer
Senior Director, Sales and Account Management, Omnicell

For more than 25 years, the 340B Drug Pricing Program has provided financial assistance to eligible hospitals and other healthcare facilities serving vulnerable communities. The program allows 340B covered entities to stretch limited federal resources and expand health services to the patients and communities they serve.  

As the economic slowdown and rising unemployment levels have disproportionately impacted the underprivileged and uninsured—many that are served by 340B covered entities—the financial pressures are mounting for providers. Over the last year, covered entities have faced multiple fiscal challenges, including a drastic reduction in elective procedures due to the COVID-19 pandemic, Medicare Part B reimbursement cuts and drug manufacturer actions designed to limit access to 340B pricing.  For these reasons, the non-taxpayer-funded 340B program has never been more essential for providers and the communities they serve.  

The good news is that the 340B program continues to receive strong support in the form of grassroots actions by 340B advocacy groups, state leaders, and bipartisan support in Congress. 

For an inside look at what’s happening in Washington to shape the program, I invite you to join us for our next Omnicell Live event on Wednesday, January 27, 2021 at 10 am PST. I’ll be joined by 340B insider Ted Slafsky, publisher and CEO of 340B Report, and Shrujal Patel, co-founder and managing partner of The Alinea Group.   

Our discussion will cover:  

  • Key industry and Congressional players that will be influencing the 340B program in the new year  
  • What covered entities can expect if changes are made to the 340B statute 
  • The financial impacts of 2020 – and what covered entities are doing to recover 
  • Why history tells us we have reason to be optimistic about the future of the program 

Click here to register to attend this live webinar for the latest program developments from DC and beyond. 

DISCLAIMER

The views and opinions expressed in this blog are those of the authors and do not necessarily reflect the official policy or position of any other agency, organization, employer or company. Assumptions made in the analysis are not reflective of the position of any entity other than the author(s). These views are always subject to change, revision, and rethinking at any time and may not be held in perpetuity.

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