On June 12 2019, 340B Health released their Annual 340B Health Member Survey Report for 2018. This year’s survey garnered a record number of responses from our 340B Health members, especially those in rural areas.
The annual survey takes a comprehensive look at hospitals’ 340B operations, including how 340B savings are being used to support care for patients. The results of this year’s survey show that 340B hospitals are continuing to invest in resources to ensure compliance with 340B rules and requirements, while using their 340B savings to support critical programs and services for patients with low incomes and those living in rural communities. Key findings from the report include:
- 340B hospitals save an average of $11.8 million per hospital through the program and spend between $100,000 and $200,000 annually to ensure compliance with 340B program rules and requirements.
- All hospitals are using their 340B savings to support critical services and access to care for their patients, with 95 percent of hospitals supporting the provision of uncompensated and unreimbursed care and 90 percent supporting patient care services.
- 80 percent of disproportionate share or DSH hospitals use 340B savings to offset losses from low Medicaid reimbursements.
- 93 percent of rural hospitals report relying on 340B to help stay open, and more than half of rural hospitals report a cut in 340B savings likely would trigger a closure.
- 340B hospitals reported their 340B savings have helped improve patient outcomes, including medication adherence (81%), reducing preventable readmissions (78%), and improving clinical outcomes (60%) for patients living with HIV, hepatitis, and other chronic conditions.