The 340B drug pricing program, a cornerstone of U.S. healthcare policy,mandates that pharmaceutical manufacturers offer significant discounts on their medications to hospitals and clinics that participate in Medicare and Medicaid. These discounts typically range from 25% to 50%, and in some instances, can be even higher. Currently, drug companies generally provide these price reductions at the point of sale.
As its establishment over three decades ago, the 340B program has experienced substantial growth, now encompassing approximately 55,000 participating entities. it has consistently been a focal point in the ongoing national debate surrounding prescription drug costs.Federal data indicates that in 2023, the value of prescription medicines purchased through the program reached $66.3 billion, marking a notable increase of 23.4% compared to the preceding year.
