Shanyue Zeng, a Data Scientist at IQVIA, said that 340B-specific factors contributed to the program's growth, with 340B sales increasing by 115.5% more than non-340B sales in 2023. This statement was made in an article.
"Although this study did not attempt to identify specific drivers of expanded utilization, several conclusions can be drawn," said Zeng. "First, the factors driving increased utilization were 340B-specific: 340B sales growth was 115.5% higher than the growth of non-340B sales in 2023."
According to the Government Accountability Office, the 340B Drug Pricing Program was established in 1992 to assist hospitals and clinics serving low-income populations in obtaining medications at reduced prices. However, concerns have been raised regarding oversight and the actual use of savings, prompting lawmakers and watchdog groups to call for increased transparency within the program.
The Health Resources and Services Administration (HRSA) reported that purchases by 340B-covered entities reached $38 billion in 2020. This marks a significant increase from $12 billion in 2015, reflecting more than 200% growth over five years. HRSA publishes this data to provide insight into the financial scale of the program.
A study conducted in 2014 by the National Library of Medicine found that hospitals participating in the 340B program were often situated in areas with higher insurance coverage and household incomes compared to non-340B hospitals. The findings were based on data collected from 2008 to 2012 and offered insights into the demographics of program participants.
Zeng is a Data Scientist at IQVIA, where she focuses on the 340B program, market access, and gross-to-net strategy. She utilizes artificial intelligence and data analytics to assist pharmaceutical clients in addressing pricing and regulatory complexities. Her expertise lies in generating insights from extensive healthcare data sets.
