Drug manufacturers illegally refusing 340B reap the benefits while patients suffer.
For many years, drug manufacturers have some of the highest profit margins of any industry. Just last year alone, Eli Lilly's profits totaled over $6 Billion. Just in this last quarter alone, Eli Lilly celebrated an incredible 26% increase on their profits.
How does that have anything to do with 340B?
Well, starting last year, Eli Lilly and 8 other manufacturers started refusing to offer mandated 340B Drug Pricing Program discounts to medications dispensed at contract pharmacy locations. While there has been much ado and pushback on this topic, both in the public and private sector, nothing has yet changed, and manufacturers are reaping the benefits hand over foot.
Benefits that are designed to help our most vulnerable healthcare facilities, their patients, and the communities around them.
340B has seen a $3.2 Billion shortfall since these refusals started. Drug manufacturers have always made money participating in 340B, they are only using this to further pad their bottom line, while removing vital funding from an irreplaceable healthcare program.
340B covered entities and contract pharmacies rely on the 340B Program savings to fund clinics, add additional patient services, and support improved health outcomes in the communities they serve. Many of these frontline hospitals already operate on razor-thin, or even negative margins, and many more rely on 340B just to be able to keep their doors open.
While 340B continues to be impacted by the greed of manufacturers, communities and patients around the country will end up being the ones to pay when their vital, safety-net facilities can no longer afford the care they need.
While drug manufacturers continue to refuse 340B Discounts pending multiple lawsuits going on, Optimal340B can still work with your facility to increase 340B savings, and ensure program compliance.
Contact us today for a free consultation on how we can work with your facility. 1-866-OPT340B (678-3402) or Info@Optimal340B.com
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