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Vizient Statement on Cuts to 340B Program in OPPS Final Rule

11/02/17

Dateline:

IRVING, Texas

IRVING, Texas--(BUSINESS WIRE)--Vizient, Inc. today announced its disappointment with the decision by the Centers for Medicare & Medicaid Services to finalize a policy that drastically reduces Medicare payments to hospitals participating in the 340B Drug Pricing Program.

Reducing Medicare reimbursements to 340B hospitals will do nothing to address the rising cost of prescription drugs and will only threaten the ability of safety-net hospitals to continue to provide vital health care services and access to costly prescription drugs for our nation’s most vulnerable patients.

The Centers for Medicare & Medicaid Services needs to protect providers that are positively impacting patients and the health care industry by continuing to provide adequate reimbursement for drugs purchased under the 340B Program, so that our nation’s safety-net hospitals and providers can continue to operate in the areas of our country where they are needed most.

Vizient is the nation’s largest health care performance improvement company serving a diverse membership that includes academic medical centers, pediatric facilities, community hospitals, integrated health care delivery networks and non-acute health care providers.

About Vizient, Inc.

Vizient, Inc., the largest member-driven health care performance improvement company in the country, provides innovative data-driven solutions, expertise and collaborative opportunities that lead to improved patient outcomes and lower costs. Vizient’s diverse membership base includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks and non-acute health care providers and represents more than $100 billion in annual purchasing volume. The Vizient brand identity represents the integration of VHA Inc., University HealthSystem Consortium and Novation, which combined in 2015, as well as MedAssets’ Spend and Clinical Resource Management (SCM) segment, including Sg2, which was acquired in 2016. In 2017, Vizient again received a World’s Most Ethical Company designation from the Ethisphere Institute. Vizient’s headquarters are in Irving, Texas, with locations in Chicago and other cities across the United States. Please visit www.vizientinc.com as well as our newsroom, blog, Twitter, LinkedIn and YouTube pages for more information about the company.

Contact:

Vizient, Inc.
Angie Boliver, 972-830-7961
angie.boliver@vizientinc.com

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