Understanding 340B Pricing: and the cost-saving it can offer self funded plans.
posted by TrueNorth Employee Benefits on Monday, September 9, 2024
Understanding 340B Pricing: and the cost-saving it can offer self funded plans.
Contemplating whether to cover GLP-1's and other specialty drugs? It may be time to consider an alternative approach to prescription management.
What is 340B Pricing?
The 340B Drug Pricing Program is a discounted pricing model that enables compliant hospital systems to purchase specialty drugs (e.g., Humira, Skyrizi, etc.) at heavily discounted rates based on the percentage of Medicare/Medicaid patients in their care.
In conjunction with our PBM and a national 340B compliance resource, TrueNorth has developed a platform that offers self-funded employers similar cost savings, drastically reducing their overall pharmacy drug spend.
* We’ve provided a sample chart above outlining estimated annual savings and revenue analysis based on current 340B prescription drug rates.
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TrueNorth offers businesses of every size comprehensive solutions to meet their business needs and those of their employees. If you are in need of business solutions and are looking for ways to protect and maximize your workforce, look to TrueNorth. Our Employee Benefits Division can assist you in providing for the well-being of both you and your staff. Call us today at 1-800-798-4080.
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