A New Jersey company is looking to help children's hospitals with implementing and managing 340B drug discount programs.
"New federal regulations allow children's hospitals to save money and lower prescription costs by up to 60 percent for patients through the 340B program," said Jeff Rollins of SUNRx, based in Mount Laurel, N.J. He said children's hospitals should take advantage of their new eligibility and implement cost-effective discount medication programs immediately.
The 340B Drug Pricing Program was created in 1992 to enable federally qualified health centers, disproportionate share hospitals and certain other entities maximize resources and expand access to affordable medications.
According to Rollins, complex regulations and paperwork requirements prevent many eligible entities from participating fully in 340B. This September, the U.S. Health Resources and Services Administration issued new federal regulations to allow children's hospitals to participate in the program.
SUNRx provides automated solutions for federally qualified health centers and disproportionate share hospitals for the administration of government 340B discount drug pricing programs.
Rollins said the company's technology simplifies 340B implementation and aids smaller facilities in managing the complexities and risks associated with administering 340B, including management of sliding fee scales, formularies, reporting, payments, patient enrollment and eligibility, invoicing, inventory, patient drug cards and regulatory compliance, including diversion safeguards.
Many 340B solutions are the side businesses of large drug wholesalers and require hospitals to carry the parent company's products and services. In contrast, Rollins said SUNRx allows children's hospitals to choose any wholesaler to achieve maximum flexibility and the lowest prices, enabling the facilities to tailor programs with medications used to treat childhood diseases.
"We applaud HRSA for expanding 340B eligibility to Children's Hospitals," said Rollins. "Our children's hospitals across the country work every day to provide care to the most vulnerable among us."