Speaking of stupid laws:
Created by Congress in 1992, the 340B Drug Pricing Program requires pharmaceutical manufacturers participating in Medicaid to sell outpatient drugs at steep discounts to certain “covered entities,” including hospitals and clinics that serve low-income and uninsured patients…
A hospital buys a drug at a substantial discount, sometimes 30%, 50% or more below the list price. The hospital then administers that drug to a patient and bills the patient’s insurer, or Medicaid, at or near the full reimbursement rate. The spread between the discounted acquisition cost and the reimbursement is retained by the hospital…
Because many of these hospitals are tax-exempt, taxpayers effectively underwrite this model twice: first through the 340B structure and again through forgone tax revenue…
This is a giant scam that enriches the hospitals and raises health care costs for the rest of us. Trump and RFK Jr. should end it.
The post UP Co-Founder Steve Forbes Explains the Hospital 340B Drug Scam appeared first on Unleash Prosperity.
