Market Insights

3 steps to maximize your Patient Assistance Program

McKesson pharmacy experts share top trends for hospital and health system pharmacies

By Craig Dolan, PharmD, MBA
VP, Pharmacy Services, McKesson Pharmacy Optimization®

Nearly 28.5 million Americans are uninsured or underinsured, leaving them exposed to medical costs they can’t afford.1 For these patients and the hospitals and health systems that provide their care, Patient Assistance Programs (PAPs) can help relieve financial pressures by offering free medications, devices and co-pay assistance. However, securing this aid can be extremely challenging. Here are three ways to help your hospital or health system maximize your recovery efforts.

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Trends

1 Key facts about the uninsured population, The Henry J. Kaiser Family Foundation, September 29, 2016

2 Insights from monthly national health spending data through June 2017, Altarum Institute, August 2017.
3 Ibid
4 Ibid
5 U.S. uninsured rate rises to 11.7%, Gallup, July 10, 2017.
6 Congressional hearing examines concerns about oversight, abuse of 340B drug discount program, Healthcare Finance, July 2017.
7 Action needed to reduce financial incentives to prescribe 340B drugs at participating hospitals, United States Government Accountability Office, June 2015.
8 Hospitals question feds’ proposed $9 million IOU tied to 340B cuts, Modern Healthcare, July 2017.
Strengthening healthcare’s supply chain: A 5-step plan, McKinsey & Company, September 2013.
10 Generic drugs in 2017: FDA on track for most approvals ever, Regulatory Affairs Professionals Society, August 2017.
11 FDA working to lift barriers to generic drug competition, U.S. Food & Drug Administration, June 2017.
12 Generic drug prices are falling, but are consumers benefiting?, The New York Times, August 2017.

 

*The information provided here is for reference only and does not constitute legal advice. We make no representations with regard to the content’s comprehensiveness. You are solely responsible for investigating and complying with all applicable laws that govern the operation of your business. The results of parties herein depend on a variety of factors that are unique to their business. There is no guarantee that your results will be similar. Each party’s results will depend on the factors of its business. Their success cannot be used as an indication of future success with these programs.