U.S. Reps. Larry Bucshon, MD (R-IN-08), Buddy Carter (R-GA-01), and Diana Harshbarger (R-TN-01) introduced the 340B Affording Care for Communities and Ensuring a Strong Safety-Net Act to increase oversight and transparency in the 340B drug pricing program.
The 340B drug pricing program was created in 1992 to support uninsured or low income patients by enabling 340B covered entities like hospitals or health care organizations to purchase drugs for eligible patients at lower costs, passing on those savings to the patients.
Since inception, there has been little oversight added to the program, leading to hospitals and health care institutions pocketing the savings instead of lowering costs for patients
The 340B ACCESS Act was proposed to address these issue, and would add new requirements for transparency and eligibility to protect 340B patients. The legislation provides a clear definition of which patients are 340B eligible as well as a detailed list of requirements for hospitals to be eligible for participating in the 340B program.
The Act also includes a requirement for hospitals to report how they use the 340B savings within the guidelines provided.
“As a physician, I know the importance of providing patients with reliable access to affordable medications,” Dr. Bucshon said in a release. “It's imperative that we address these concerns and safeguard the 340B drug pricing program, ensuring its benefits are reaching and helping vulnerable patients.”
Executive Director of the Alliance to Save America’s 340B Program Thomas Johnson said “today is a great day for patients who depend on 340B to access affordable medicine and health care services. This bill will lower out-of-pocket prescription drug costs for up to 48 million uninsured and low-income patients nationwide — an unprecedented step for the program.”
