SUNRx and the 340B Discount Drug Program
Like many small, rural hospitals, Abbeville Area Medical Center (AAMC) serves a community that is struggling economically, and that translates into a high rate of charity care. About four years ago, they partnered with SunRx to implement a 340B discount drug program, and the revenue it generates has become what CFO Timothy Wren calls “lifeblood of the hospital.”
340B, started in 1992, is a federal program intended to make prescription drugs more affordable to low-income patients by requiring drug manufacturers to provide their products at reduced prices in order to be eligible for Medicaid. The program also provides a revenue stream to eligible healthcare facilities to encourage participation. SUNRx, an industry leader in managing 340B implementation and compliance, is an endorsed partner of Solvent Networks, a division of the South Carolina Hospital Association.
Patrick Colbert, director of account management at SUNRx, says the company assists hospitals and health systems of all sizes, “but the majority of our success has been in helping keep the doors open in rural areas.” But, he cautions, implementing a 340B program isn’t quick or easy. “There are a lot of regulatory steps involved to ensure that a hospital is eligible for the program. That’s where they can lean on their third-party administrator to help guide them.”
To learn more about how SUNRx and other Solvent Networks partners can help solve your pain points, visit our partners page on SolventNetworks.com.
PAIN POINT
“We’re a small, rural hospital, and charity care is stretching our resources to the limit.”
SOLUTION
Let SUNRx help you decide if a 340B discount drug program is part of the answer.
Like many small, rural hospitals, Abbeville Area Medical Center (AAMC) serves a community that is struggling economically, and that translates into a high rate of charity care. About four years ago, they partnered with SunRx to implement a 340B discount drug program, and the revenue it generates has become what CFO Timothy Wren calls “lifeblood of the hospital.”
340B, started in 1992, is a federal program intended to make prescription drugs more affordable to low-income patients by requiring drug manufacturers to provide their products at reduced prices in order to be eligible for Medicaid. The program also provides a revenue stream to eligible healthcare facilities to encourage participation. SUNRx, an industry leader in managing 340B implementation and compliance, is an endorsed partner of Solvent Networks, a division of the South Carolina Hospital Association.
Patrick Colbert, director of account management at SUNRx, says the company assists hospitals and health systems of all sizes, “but the majority of our success has been in helping keep the doors open in rural areas.” But, he cautions, implementing a 340B program isn’t quick or easy. “There are a lot of regulatory steps involved to ensure that a hospital is eligible for the program. That’s where they can lean on their third-party administrator to help guide them.”
To learn more about how SUNRx and other Solvent Networks partners can help solve your pain points, visit our partners page on SolventNetworks.com.
We invite your comments, questions and suggestions. The more we know about your needs and priorities, the better we can serve you and SCHA. So do you have a Pain Point? Let us solve it! Let us know what pains you!
Click HERE to see 340B Program Proven to Return Value to Rural Hospital Case Study.