WASHINGTON, Dec., 6, 2016 /PRNewswire-USNewswire/ -- A new analysis released today by the Alliance for Integrity and Reform of 340B (AIR 340B) found that the 340B program has reached an unprecedented volume of growth and will continue on this growth trajectory for the next five years at minimum. The report expands on existing data on total drug purchases through the 340B drug discount program from 2005 to 2015, which found the 340B program has more than doubled in size between 2010 and 2015 – growing 66 percent between 2013 and 2015.
"It's concerning the 340B program is expected to grow exponentially for the next five years. Further growth will make regulating the program a difficult challenge, and could potentially lead to unforeseen affects," says Stephanie Silverman, AIR340B's spokesperson.
Key findings from the report include:
The Alliance for Integrity and Reform of 340B (AIR 340B) is a coalition of patient advocacy groups, clinical care providers, and biopharmaceutical innovators and distributors dedicated to reforming and strengthening the 340B program to ensure it directly supports access to outpatient prescription medicines for uninsured indigent patients. www.340Breform.org
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"It's concerning the 340B program is expected to grow exponentially for the next five years. Further growth will make regulating the program a difficult challenge, and could potentially lead to unforeseen affects," says Stephanie Silverman, AIR340B's spokesperson.
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Key findings from the report include:
- The 340B program is expected to exceed 23 billion dollars in total purchases at the 340B price by 2021, passing current Medicare Part B drug reimbursement purchases by 2021;
- A key driver of program growth for the next five years will be expanded utilization at existing 340B entities through contract pharmacies, practice acquisitions, physician practice affiliations and patient referrals;
- By 2021, statutory 340B chargeback payments by manufacturers will exceed 16 billion dollars;
- Contract pharmacy utilization will surpass six billion dollars and will operate in a largely unregulated environment by 2021.
The Alliance for Integrity and Reform of 340B (AIR 340B) is a coalition of patient advocacy groups, clinical care providers, and biopharmaceutical innovators and distributors dedicated to reforming and strengthening the 340B program to ensure it directly supports access to outpatient prescription medicines for uninsured indigent patients. www.340Breform.org
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/340b-program-reaches-unprecedented-volume-of-growth-new-study-suggests-300373660.html
SOURCE Alliance for Integrity and Reform of 340B (AIR 340B)
