What is 340B?
Section 340B of the Public Health Service Act is designed to provide affordable medications to low-income and uninsured patients.
How Does the 340B Program Help Hospitals and Healthcare Entities?
As a healthcare provider, you benefit from the 340B Program in several ways. Since federal resources are stretched as far as possible, you can still receive valuable funding through the program for your clinic.
Also, your healthcare organization reduces pharmaceutical costs by 25%-50%. So far QuickRX has saved hospitals and entities partners in New York more than $1M!
Here are some of the other benefits you get by participating in the 340B Program:
- Increased patient outcomes
- Increased adherence to treatment
- Enhanced clinical collaboration
- Minimized audit risk
How Does My Entity Participate in 340B?
Not all healthcare programs can participate in the 340B Program. To be eligible, you must be one of the following:
- Owned or operated by a state or local government
- Received formally granted governmental powers by your state or local government
- Contracted with a state or local government to provide care to low-income individuals who are not eligible for Medicare or Medicaid
For example, federally qualified health centers (FQHC) are able to join. Also, you can participate if your entity is a federal grantee from the following:
- Health Resources and Services Administration
- Centers for Disease Control and Prevention
- Department of Health and Human Services’ Office of Population Affairs
- Indian Health Service