"The federal 340B Drug Discount Program is intended to help safety-net hospitals deliver discounted prescription drugs to low-income patients, but recent proposals threaten its effectiveness."
"Data indicates that only 29% of 340B funds are spent in ZIP codes below the state median income level, highlighting a disconnect between funding and need."
"From 2016 to 2022, 75% of organizations acquired by major hospital systems were 340B facilities, allowing these hospitals to profit while failing to provide adequate charity care."
"Despite a 38% rise in assets from 2014 to 2022, 340B hospitals have seen a 29% decline in charity care, with 85% providing care below the national average."
The 340B Drug Discount Program is crucial for providing discounted drugs to low-income patients in New York. However, recent budget proposals threaten to exacerbate existing flaws in the program without introducing necessary transparency measures. Data shows that only 29% of 340B funds are allocated to low-income areas, while large hospital systems exploit the program for profit. From 2014 to 2022, charity care from 340B hospitals decreased by 29%, despite a 38% increase in their assets, leading to significant financial losses for government health plans.
#340b-drug-discount-program #healthcare-access #low-income-patients #hospital-consolidation #charity-care
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