Sen. Chuck Schumer, D-N.Y., told medical leaders in Genesee County, N.Y., that he plans to advocate for improved funding for the 340B Drug Pricing Program in order to help hospitals reinvest funds into patient care initiatives, according to The Batavian.
CMS recently enacted cuts to the 340B program which disqualified many hospitals from the discounts. Dan Ireland, CEO of Batavia, N.Y.-based United Memorial Medical Center, said the program traditionally saved his hospital $2 million annually. It lost roughly $600,000 in discounts, he said.
"To some folks, this is about money, but really what it is about is the investment that's made for people, for healthcare, for our friends and our neighbors and our loved ones. That $2 million gets reinvested in programs to help support cancer care, as we talked about, and the emergency room and outpatient clinics, so folks can access care close to their homes in a timely manner," said Mr. Ireland. "This will change the lives of people if these cuts continue. It will change the lives here at the hospital, will change lives throughout our communities."
Mr. Schumer said he believed restoring funding for the program could receive bipartisan support because both Democrats and Republicans represent rural districts affected by the cuts.