CMS Finalizes Survey to Collect 340B Hospital Drug Costs
On February 7, 2020, CMS published a notice in the Federal Register seeking public comments on a proposed survey to collect cost information for specified outpatient covered drugs from hospitals participating in the 340B Drug Pricing Program (340B Program). This survey is expected to be used to set payment rates based on cost in the future. The deadline to provide comments is March 9, 2020.
As noted in a previous BKD Thoughtware® article, the survey was proposed on September 30, 2019, and is a show of commitment to eventually reexamine reimbursement on specified covered outpatient drugs under the 340B Program. CMS believes the first step to set updated rates is to collect hospital acquisition costs through the survey submissions.
Hospitals are expected to take approximately 48 hours to collect all data needed and complete the survey. However, CMS asks for comments on the estimated burden on individual hospitals. If the Office of Management and Budget approves of the survey, the survey response period will be March 23 through April 10, 2020. Any hospital that was enrolled in the 340B Program in the last quarter of 2018 and/or first quarter of 2019 would be required to complete the survey.
Hospitals participating in the 340B Program should consider submitting comments and prepare to respond to the survey, as the timeframe to complete the survey is limited.
BKD can assist your organization with completing the survey. If you need assistance or more information on these matters, please reach out to your BKD Trusted Advisor™ or submit the Contact Us form below.