IRVING, Texas--(BUSINESS WIRE)--Vizient announces its strong support for the Department of Health and Human Services’ (HHS) proposed rule to implement a 340B Drug Pricing Program regulation that would refine calculations establishing the 340B ceiling price and apply penalties for drug manufacturers that knowingly overcharge hospitals for drugs purchased through the program. The proposed rule would move the effective date to Jan. 1, 2019.
Vizient believes the 340B program provides essential value for our members through expanded access to prescription drugs to support care to low-income and uninsured patients. This long-overdue step will provide additional accountability for drug manufacturers as well as needed clarity for 340B program participants.
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 approximately $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 2018, 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.