This bill proposes the addition of a new section, 30-5-37, to the Code of West Virginia, which mandates that participants in the federal 340B Drug Pricing Program report specific data to the Board of Pharmacy. The bill defines a "340B covered entity" and outlines the information that must be reported annually by these entities, including their name, aggregate acquisition costs for prescription drugs, payments received for dispensed drugs, payments made to pharmacies, the number of claims, and how savings from the program are utilized, particularly for charity care and community benefits. The data must be reported by payer type, including commercial, Medicaid, and Medicare.

Furthermore, the bill stipulates that the reported data will be confidential and not available for public inspection. It also requires the West Virginia Board of Pharmacy to compile and analyze the submitted data into a report, which must be submitted to the Joint Committee of Government and Finance and the Joint Standing Committee on Insurance and PEIA by November 15 each year, and posted on the Board's website. This initiative aims to enhance transparency and accountability regarding the use of savings from the 340B program in providing healthcare services to the indigent.

Statutes affected:
Introduced Version: 30-5-37