How $2.7B+ in 340B Savings Transformed Community Healthcare in 2024
In 2024, Wellpartner clients across the nation achieved a remarkable milestone: over $2.7 billion in net savings. This 28% increase from the previous year underscores the dedication of hospitals and clinics to optimize their programs amidst industry challenges. But what do these numbers truly signify for our communities?
Reinvesting in Community Health
The net savings represent funds that health care entities reinvest into their communities. Such initiatives highlight the tangible benefits of these savings, directly impacting the well-being of countless individuals. These investments translate into real care.
Reinvesting in Community Health
The net savings represent funds that health care entities reinvest into their communities. Such initiatives highlight the tangible benefits of these savings, directly impacting the well-being of countless individuals. These investments translate into:
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Free Prescription Programs
Ensuring that uninsured and underinsured patients receive essential medications without financial burden.
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Mobile Health Clinics
Bringing health care services directly to underserved and rural areas, increasing accessibility.
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Cancer Screening Programs
Providing early detection services, crucial for effective treatment and improved survival rates.
Hospitals vs. Federal Grantees: A Comparative Insight
Delving deeper, the distribution of these savings reveals intriguing insights:
- Hospitals: Generated approximately $2.1 billion in net savings
- Federal Grantees: Contributed around $615 million.
It s noteworthy that while federal grantees constitute about 45% of 340B Covered Entities, they account for only 22% of the total savings. Federal grantees, including community primary care clinics and condition-specific treatment centers, play a pivotal role in offering low-cost health services to Medicaid and Medicare patients.
Leading States in 340B Savings
Certain states have emerged at the forefront of Wellpartner’s 340B savings in 2024:
- California
- Massachusetts
- Pennsylvania
- New York
- Virginia
These figures reflect the concentrated efforts in these regions to optimize healthcare programs and reinvest savings into community health initiatives.
Community Benefit Prescriptions: A Lifeline for Patients
A significant portion of the savings has been channeled into Community Benefit Prescription programs:
- 300k+ prescriptions provided at low or no cost
- $60 million in drug costs covered
With an estimated 25.3 million uninsured individuals in the U.S., these programs are crucial. They ensure that vulnerable populations have access to life-saving medications, underscoring the profound impact of reinvested healthcare savings.
Explore the Full Impact
For a comprehensive visual representation of these insights and more, download our detailed infographic. Discover how these savings are making a difference in communities nationwide.
