OPEN MINDS Releases New Report Discussing The Market Advantage Of The 340B Program
Gettysburg, Pa. (March 13, 2016) — The OPEN MINDS market intelligence team has just released a new Market Intelligence Report that reviews and explains the details of federal 340B Drug Pricing Program (340B Program). Created in 1992, the federal 340B Drug Pricing Program (340B Program), which is overseen by the federal Health Resources and Services Administration (HRSA), allows qualified provider organizations to purchase outpatient drugs at a discounted price.
In the newly released report, the OPEN MINDS team provides a detailed breakdown of the 340B program, including participating organizations by type and a detailed explanation of how drug discounts are calculated. The cost of the drug discount is born by the pharmaceutical manufacturers as a stipulation of participating in Medicaid programs. Although the purpose of the discount is to be able to provide drugs to more consumers, 340B organizations are not required to pass the discount along to consumers and may use any revenue generated from the program as they chose.
For a summary of the report, check out the article, The Market Advantage Of The 340B Program, which is available at no cost to the public. The OPEN MINDS Market Intelligence Report, “What Provider Organizations Are Eligible For 340B Drug Pricing Benefits?” answers a number of important questions, including:
- What Is The 340B Drug Pricing Program?
- What Provider Organizations Are Eligible To Participate In The 340B Program?
- How Are Drug Discounts Calculated For The 340B Program?
- How Does The 340B Program Discount Affect Consumers?
- What Drugs Are Eligible For 340B Program Reimbursement?
Published weekly by OPEN MINDS’ team of experts, the Market Intelligence Reports are provided as a free resource to Premium & Elite members of the OPEN MINDS Circle. Click here for details on how to become a Premium or Elite member. The reports are also available for purchase in the OPEN MINDS store by clicking here.
OPEN MINDS is a national strategic advisory firm specializing in the sectors of the health and human service industry serving individuals with complex support needs: mental health; addiction treatment; children & family services; intellectual & developmental disabilities; chronic disease management; long term care; social services; correctional health care, reentry & diversion; and juvenile justice.
Founded in 1987 and based in Gettysburg, Pennsylvania, the 75+ associates believe by providing the latest market intelligence and management best practices to organizations serving the health and social support needs of the most vulnerable consumers, those organizations will be better able to provide efficient and effective services. Learn more at www.openminds.com.
For additional questions and inquiries, please contact Angela McDonald, Marketing Manager, OPEN MINDS at 717-334-1329 or openminds@openminds.com.