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She figures now a -- So a shot new report alleges that hospitals and clinics around the country are literally cashing in on discount prescription drug programs had heard about this.
Listen -- the program.
Known as 340 B requires pharmaceutical companies to allow certain hospitals and clinics to buy drugs at a discount that's fine.
But -- some -- very hospitals and clinics are getting re reimbursed the full price for these drugs from insurance companies and Medicare.
And they are pocketing the difference joining me for more.
Doctor Byrne is reeling.
We expect Columbus -- Health care system -- and Georgia.
So much for joining asked.
You know when I hear about this program and I hear about going in getting reimbursed from insurance companies -- for Medicare from the government for the full price.
When you paid a discounted price it's like -- to me is this fraud.
That no really it's the 340 B program as it's known as is -- it is a great program that really helps.
Federal clinics and federally supported programs.
And the disproportionate share hospitals hospitals that -- care for the underserved and the needy patients so.
There's not a windfall profits in this program at all.
The the more drug calls that we incur -- 340 B program help us reduce our losses that we incur intriguing.
-- safety net hospitals which means we catch the patients who fall through the cracks so.
What does the savings we get from the 340 B go rat Becky and did it take care of these patients that are -- reimbursed services we put back.
Doctor REIT I -- just be clear you are the director pharmacy for Columbia regional -- system you are doing this you are you are you are getting drugs for discount -- -- getting reimbursed for the full amount.
We we we do.
Are able to purchase medications in this for -- program for out patients only.
-- that reduced pricing but what -- put what we save on those just goes so far.
In in meeting the that that needs in the cost of care.
For the underserved patient so now there's no -- there's no profits being made on this whatsoever.
I I understand it that you're using the difference in the money.
You know -- help really ill people who would -- served in other ways.
At -- -- time.
I mean do you worry about the insurance companies coming after you and saying you are getting reimbursed for something that you're not paying for and that's -- -- the no not at all in fact -- Vs -- this program -- -- back in 1992.
It's been in existence for twenty years and the intent of the program -- was very clearly.
To help these entities or we call covered entities be able to cover their cost of -- -- reimburse care.
So I -- you know for institutions like ours it is critical that we.
Recognize these savings because it helps us.
Just be able to keep our doors open to be able to serve.
Cancer patients multiple sclerosis patient stroke patients all those that come -- come guard the worst.
As a safety net we treat all patients those who can -- those who cannot pay and these savings are just a small amount but help -- -- That -- reimburse care.
So if you're purpose putting this money to good use as you say do you worry that others are music.
Out there there are good -- the program is very complex.
But there are guidelines in the program.
We we -- all the hospitals try to do our best to absolutely adhered to those program we support the integrity.
Provisions of the program we want it to be very successful we need it so we can take care of patients they're needy patients out there diabetics without insulin.
Heart patients without medications that they need.
And we have bring -- -- to these patients these needy patients the ones who can't get care other places so.
It's a good program there -- data lands in there we support oversight.
We very much -- it to be very successful.
And wanna work -- all the entities the federal government.
The manufacturers to be sure that we're doing the right thing handset manufacturers and do you worry in the long run that it raises the prices of drugs overwrought they're selling as -- USA discounted good question that.
Good question is does not this hold -- forty B program only makes up about six million dollars and stand around the country.
A about a 320.
Billion dollar drug industry the United States so we're only talking about 2%.
Of the drugs being and so it's it's say a great program that.
Congress is wise to implement and we we won't oversight we welcome congress' right to oversee yet.
I'm not to ask questions showed that we're doing what we're supposed to be doing.
But it's a great program for us I think you might be facing more questions now -- this comes to more people's attention but doctor -- thanks so much for coming on -- -- we appreciate it.
You're quite welcome thank you for the opportunity time.