What is a 340B program?

The 340B Program is a federal government initiative in the United States that allows eligible healthcare organizations, known as covered entities, to purchase outpatient drugs at significantly reduced prices. This program aims to help these entities stretch scarce resources, improve patient care, and provide more comprehensive services to underserved populations. The savings generated from the program are often used to expand patient access to medications and other health services. Participation is regulated by the Health Resources and Services Administration (HRSA), and compliance is required to maintain eligibility.