340B participants almost exclusively represent the top 25 Hospitals that had the largest “Fair Share” surpluses in 2020, based on an April 11th report by the Lown Institute. A fair share surplus means that their spending on charity care and community investment exceeded the value of their tax exemption. Community investment includes things like community health improvement activities, community-building activities, contributions to community groups and even subsidized health care services.
Those hospitals include the likes of NewYork-Presbyterian Hospital ($117 million), Nebraska Medical Center ($116 million), Stanford Health Care ($92 million) and Mount Sinai Hospital ($54 million). In these facilities, 340B is vital to being able to continue providing the services they already have and even expanding to other services.
There are so many ways in which 340B contributes to the United States healthcare landscape. Supporting eligible safety-net hospitals and grantees in providing uncompensated care is only one way.
Some of the other ways that 340B has helped to make a difference are:
Arrowhead Regional Medical Center (ARMC) in Colton, California has used 340B savings to implement a Hepatitis C testing and treatment program and ensures patients never go without medications, regardless of their ability to pay.
Henry Ford Hospital in Detroit, Michigan has funded several free clinics and provide medication to dialysis patients through 340B funds.
Shore Memorial Hospital in Onancock, Virginia is the only hospital on the Virginia Eastern Shore and even with 340B savings, the hospital operates at a loss, without 340B there’s no way they could keep their doors open.
Tampa General Hospital in Tampa, Florida uses their 340B program to assist transplant patients who may have trouble paying for expensive but life-saving transplant medications.
UK Healthcare in Lexington, Kentucky has been able to lower drug costs by approximately $60 million per year which helps offset expenses associated with offering medications and ancillary care at NO charge for indigent and self-pay patients.
Whittier Street Health Center has been able to offer mobile mental health and substance use screenings with four mobile vans that make rounds of a network of churches, schools, and public housing developments.
These are only a few of the thousands of ways that 340B is a vital resource for today’s healthcare providers, but it’s under attack by Pharmaceutical manufacturers. If we can’t make our elected officials understand how important the 340B Drug Pricing Program is, then we risk losing out even more than we already have with contract pharmacy restrictions.
By sharing your stories of how 340B helps your entity can we help fight back against Pharma’s attacks on the program. There are so many ways to help share your story but you can easily submit your story to our website or email it to Info@optimal340B.com and we can help you spread the word about the great work 340B is doing in your community.