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 The leading web portal for pharmacy resources, news, education and careers September 21, 2017
Pharmacy Choice - Pharmaceutical News - KSB looks to save millions in Medicaid drug costs [Daily Gazette, Sterling, Ill.] - September 21, 2017

Pharmacy News Article

 4/20/17 - KSB looks to save millions in Medicaid drug costs [Daily Gazette, Sterling, Ill.]

April 20DIXON KSB Hospital soon could be saving $2 million to $4 million a year on drug costs for Medicaid patients.

KSB recently became eligible for the federal 340B Drug Pricing Program, which allows qualifying hospitals to buy drugs at a significant discount to offset patient medication costs.

Medicaid recipients make up 11 percent of its patient population, putting the hospital above the threshold required for the program for the first time, said City Councilman Kevin Marx, also KSB's vice president and chief practice officer.

"We would see a noticeable drop in money we have to expend for selective drugs," Marx said. "It strengthens our ability to provide care to our Medicaid population of patients."

Several variables are involved with calculating the possible cost savings, but Marx said they estimate it to be between $2 million and $4 million.

As a not-for-profit healthcare provider, KSB was required to have a municipality's support to apply for the program, and the City Council approved that measure last week during a special meeting so KSB could apply before the program's April 15 deadline.

Mayor Li Arellano Jr. said the city and KSB always have had an unspoken agreement for the hospital to provide care to low-income community members, and now they have a written agreement on record.

"This will help offset the cost of crucial services they have a longstanding history of providing," Arellano said.

If approved, the discounted rates will take effect on July 1.

The program was founded in 1992, and discounts can range from 20 percent to 50 percent.

MORE INFORMATION

Call 815-288-553, go to ksbhospital.com or find KSB Hospital on Facebook for more information.

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(c)2017 the Daily Gazette (Sterling, Ill.)

Visit the Daily Gazette (Sterling, Ill.) at www.saukvalley.com

Distributed by Tribune Content Agency, LLC.




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