Welcome to our newsletter! Keep up with Industry news and with 340Basics.
Vol. 3 – August 2019
Labor Day Celebrates All Hard Working People!
The 340Basics Newsletter. We’ve got the cure for all things 340B!
Although the original idea in 1882, the first Labor Day holiday, was very different than what the day has become, the reason is still at it’s core.
The original organizers were looking for 2 things for this holiday; a means of unifying union workers and a reduction in work time. And though this was originally meant for factory and manufacturing workers, we are sure that our clients can relate with the latter.
We understand, especially when providing much needed health care to your communities, that 40 hour work weeks are a thing of the past. The passion and dedication that covered entities have for their patients is truly a LABOR of love.
Now, we at 340Basics can’t rise up and protest for shorter days or work weeks like in 1882, but we can wish you all a relaxing and happy Labor Day!
If you have any suggestions for topics, questions on this editions content or just want to say hi, please email info@340Basics.com.
340B Industry News
340B vs. Drug Manafacturers!
In a new study published in the Journal of the American Medical Association (JAMA), it was determined that the 340B drug pricing program may actually discourage drug manufacturers from raising prices and instead may be having the opposite effect, reducing list prices for certain drugs. This study is in direct contrast to drug manufacturers long-standing statements that argue, 340B forces them to raise the list prices of drugs.
The 340B Program seems to be playing a vital role in helping to reduce drug prices, this could ultimately lower co-pays for patients treated at 340B institutions as well as lower costs for insurers and safety-net providers.
Help Us Help You, Stay Compliant!
Often, it is through our wonderful clients that we first hear about changes, and while we do our best to stay abreast of changes in the PBM landscape, we unfortunately do not have access to some information that many of you receive directly. Namely, changes in your Medicaid MCO prescription processors called PBMs.
If you receive notice from an insurance company or PBM that there will be changes in who will process prescriptions or BIN, PCN, Group numbers used to bill your MCOs, we are asking that you send a copy of that information to clientsupport@340Basics.com as soon as possible.
This allows us to appropriately carve-in or carve-out your MCOs, keeping your 340B program compliant.