THE DRUG DISCOUNT PROGRAM (340B) SAVES LIVES
The healthcare industry is undergoing dramatic transformation as we shift from fee-for-service reimbursement to a fee-for-value payment system, promoting the value and outcome of the healthcare services we deliver. We’re focused on providing the best care for the people we serve, measuring the efficiency of our healthcare delivery and striving to improve outcomes at a lower cost.
The Mid-Michigan ministries of Ascension (representing Genesys Health System, St. Mary’s of Michigan and St. Joseph Health System in Tawas) have embraced this transformation because it’s the right thing to do for the communities we serve. Unfortunately, a big daily obstacle that we see to providing better care at a lower cost is the rapid price increases of prescription drugs.
Last year alone, according to the Office of the Assistant Secretary for Planning and Evaluation (ASPE), about $457 billion was spent on prescription drugs, accounting for 16.7 percent of overall personal healthcare services. Prescription medication prices are increasing faster than any other aspect of healthcare. At the Mid-Michigan ministries of Ascension, we experienced an increase of 11 percent in our drug spending last year (February 2015 to February 2016). This means we have $3.7 million less that we can invest in patient and community care.
For more information, visit www.340bhealth.org
For more information, visit http://www.ourmidland.com/opinion/voices/article/The-drug-discount-program-340B-saves-lives-9279586.php