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340B Accountability Act of 2023
12/15/2023, 4:07 PM
Summary of Bill S 1133
Bill 118 s 1133, also known as the 340B Accountability Act of 2023, is a piece of legislation currently being considered by the US Congress. The bill aims to increase transparency and accountability in the 340B Drug Pricing Program, which requires drug manufacturers to provide discounts on outpatient drugs to certain healthcare facilities that serve low-income and vulnerable populations.
The 340B program has come under scrutiny in recent years for potential misuse and lack of oversight. The 340B Accountability Act of 2023 seeks to address these concerns by requiring participating healthcare facilities to report on how they are using the discounts they receive, including information on the number of patients served and the amount of savings realized.
Additionally, the bill would establish a process for auditing and enforcing compliance with program requirements, as well as penalties for non-compliance. It also includes provisions to improve the transparency of drug pricing and ensure that the discounts provided by manufacturers are passed on to patients in need. Overall, the 340B Accountability Act of 2023 aims to strengthen the integrity of the 340B program and ensure that it is effectively serving its intended purpose of providing affordable medications to underserved populations.
The 340B program has come under scrutiny in recent years for potential misuse and lack of oversight. The 340B Accountability Act of 2023 seeks to address these concerns by requiring participating healthcare facilities to report on how they are using the discounts they receive, including information on the number of patients served and the amount of savings realized.
Additionally, the bill would establish a process for auditing and enforcing compliance with program requirements, as well as penalties for non-compliance. It also includes provisions to improve the transparency of drug pricing and ensure that the discounts provided by manufacturers are passed on to patients in need. Overall, the 340B Accountability Act of 2023 aims to strengthen the integrity of the 340B program and ensure that it is effectively serving its intended purpose of providing affordable medications to underserved populations.
Congressional Summary of S 1133
340B Accountability Act of 2023
This bill requires participants in the 340B drug pricing program to allow the Health Resources & Services Administration (HRSA) to audit their records to determine how they use the net income from the discounted drug prices under the program. Participants also must retain records and reports as necessary for HRSA to perform the audits.
Read the Full Bill
Current Status of Bill S 1133
Bill S 1133 is currently in the status of Bill Introduced since March 30, 2023. Bill S 1133 was introduced during Congress 118 and was introduced to the Senate on March 30, 2023. Bill S 1133's most recent activity was Read twice and referred to the Committee on Health, Education, Labor, and Pensions. as of March 30, 2023
Bipartisan Support of Bill S 1133
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 1133
Primary Policy Focus
HealthAlternate Title(s) of Bill S 1133
340B Accountability Act of 2023
340B Accountability Act of 2023
A bill to amend the Public Health Service Act to clarify rules relating to drug discounts for covered entities.
Comments
Sponsors and Cosponsors of S 1133
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