Saurabh Tripathi Executive Vice President and Chief Financial Officer | Alexian Brothers Behavioral Health Hospital, Hoffman Estates
Saurabh Tripathi Executive Vice President and Chief Financial Officer | Alexian Brothers Behavioral Health Hospital, Hoffman Estates
October marks National Pharmacy Month, a time to recognize the significant role pharmacists play in healthcare. Ascension acknowledges the contributions of pharmacists in providing essential care and ensuring access to necessary medications.
For many individuals, particularly those from underserved communities, the high cost of prescription drugs presents a significant barrier to healthcare. Ascension is committed to improving health outcomes while reducing costs, with participation in the 340B Drug Pricing Program being a key strategy.
The 340B Program, established in 1992, enables eligible healthcare providers such as safety-net hospitals to purchase outpatient drugs at reduced prices. This initiative allows these providers to extend their resources further and meet commitments within their communities.
Ascension, as a non-profit health system, plays an essential role in assisting underserved populations through charity and safety-net care. In the previous year alone, Ascension allocated $2.3 billion towards care for impoverished individuals and community benefit programs. The savings from the 340B program facilitate these efforts by extending limited resources.
Facilities in Texas exemplify how the 340B Program supports patient care and community health initiatives. In 2023, $20.9 million saved through the program funded local projects such as medication affordability programs and charitable pharmacies serving uninsured patients.
Similar successes are mirrored across other states where Ascension operates, using 340B savings to provide post-discharge medications at no cost and support various patient-focused programs. Last year saw participation from 54 Ascension hospitals in the program, including critical access and disproportionate share hospitals.
The continuation of the 340B Program is vital for Ascension's mission to deliver quality healthcare services nationwide. Any efforts to limit this program could jeopardize affordable access to necessary medications for patients served by non-profit and safety-net hospitals.
Ascension emphasizes that congressional protection of this program is crucial for maintaining affordable access to life-saving drugs and quality healthcare for all individuals in need.
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