IRVING, Texas, Sept. 11, 2012 /PRNewswire/ -- The Health Resources and Services Administration (HRSA) has elected to continue its relationship with Apexus by renewing for another year the agreement making Apexus the government's prime vendor for the 340B program. HRSA chose to exercise this one year renewal following a careful audit and review of Apexus' proven ability to maintain, coordinate and advance the 340B Prime Vendor Program.
The agreement between Apexus and HRSA, effective September 10, 2009, has a term of two years, with three one-year renewal options. HRSA exercises the one-year renewal options each year after reviewing Apexus's abilities and performance against other potential vendors.
"We are pleased to continue our relationship with HRSA," said Christopher Hatwig, Vice President at Apexus. "As the government's prime vendor for the 340B program, we believe the program is an essential federal program, and we are committed to providing value to the eligible organizations we serve. Since our partnership began, in addition to regulatory discounts on covered outpatient drugs, the Program has added numerous value-added products and services."
The 340B Drug Pricing Program is a Federal program that requires drug manufacturers to provide outpatient drugs to eligible safety-net health organizations at a reduced price to ensure patient access to medications, which is a key component of successful clinical pharmacy services and providing a high-quality continuum of care. As the contractor to the 340B Prime Vendor, Apexus is responsible for negotiating pharmaceutical pricing below the 340B price as well as improving access to affordable medications by establishing a distribution network for pharmaceuticals to covered entities.
"We believe the 340B Drug Pricing Program helps improve access to affordable medications for covered entities and underserved patient groups," adds Hatwig. "Without the Program, we believe many of the nation's uninsured and under insured would not have adequate access to affordable medications. This Program helps alleviate additional financial burdens on the nation's safety net providers and American tax payers."
Founded in 2007, Apexus Inc., a nonprofit corporation, is the HRSA's Office of Pharmacy Affairs awarded contractor to serve as the prime vendor for the 340B Program. Based in Irving, Texas, the prime vendor's role is to secure sub-ceiling discounts on outpatient drug purchases and discounts on other pharmacy related products and services for participating public hospitals, community health centers, and other safety-net health care providers electing to join the program. For more information on Apexus, visit www.340Bpvp.com.
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