Overview
What is 340B Health?
340B Health is a Washington D.C.-based nonprofit organization that assists hospitals, health systems, pharmacies, and others in understanding and complying with the requirements of the 340B Drug Pricing Program. Through annual national conferences, webinars, online tools, and resources, as well as one-on-one technical assistance, 340B Health educates and advocates for eligible hospitals to enhance the affordability and accessibility of healthcare for patients, particularly those with low incomes and living in rural communities. Established in 1993, 340B Health represents a diverse range of member hospitals, from large academic medical centers to small rural community-based facilities, and aims to help these institutions fulfill their mission to provide care for underserved populations. The organization requires drug manufacturers to provide outpatient drugs at reduced prices to eligible healthcare organizations that serve a significant number of patients with low income and/or rural patient populations. With a workforce of around 31 employees, 340B Health is the leading advocate and resource for hospitals participating in the federal 340B program.
Official website here: www.340bhealth.org
What are the reviews and ratings of this charity?
340B Health is not currently rated by Charity Navigator as it is not a 501(c)(3) IRS registered nonprofit, which is a requirement for evaluation. Charity Navigator's absence of rating does not suggest a positive or negative view, it just reflects their criteria and the nonprofit's status.
Without a rating from Charity Navigator, details like revenue, expenses, or key personnel salaries are not available. Historically, ratings focused on Accountability and Finance, but this format is not applied here due to the organization's classification.
There are no user reviews available from GreatNonprofits, so community feedback regarding 340B Health’s operations or impact is not present.
This AI summary has been generated from information found on Charity Navigator.
Is 340B Health legitimate?
340B Health is a legitimate nonprofit organization registered as a 501(c)(6) entity. 340B Health submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,345,960
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,932,128
For more financial information, click here
Official website here: www.340bhealth.org
What is the mission statement of 340B Health?
340B Health is a leading advocate and resource for hospitals eligible to participate in the Federal 340B Drug Pricing Program. Their mission is to increase the affordability and accessibility of healthcare for patients, particularly those with low incomes and those residing in rural communities. The organization was formed in 1993 and includes some of the nation's largest non-profit academic medical centers and smallest rural community-based facilities. Eligible hospitals, clinics, and health centers receive reduced-priced outpatient drugs from drug manufacturers to serve large numbers of patients with low-income and rural populations. 340B Health educates and advocates for these institutions to help ensure they can continue to provide essential care to their communities.
Official website here: www.340bhealth.org
Who is the CEO of 340B Health?
Maureen Testoni is the CEO of 340B Health The CEO's salary of 340B Health is $847,095 and their total compensation is $997,734.
Official website here: www.340bhealth.org
What is the revenue of 340B Health?
340B Health's revenue in 2023 was $14,254,781.
Official website here: www.340bhealth.org
Who are the executives of 340B Health and what are their salaries?
The average compensation at 340B Health during 2023 was $164,940. There are 32 employees and 16 volunteers at 340B Health.
Here are 27 key members and their salaries (340B Health's CEO's salary is $847,095 and their total compensation is $997,734):
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- Compensation: $847,095
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- Other: $150,639
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- Compensation: $100,263
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Official website here: www.340bhealth.org
Where can I find the form 990 for 340B Health?
340B Health's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.340bhealth.org
Learn more at the official website: www.340bhealth.org
Mission Statement of 340B Health
340B Health is a leading advocate and resource for hospitals eligible to participate in the Federal 340B Drug Pricing Program. This nonprofit organization, established in 1993, aims to increase the affordability and accessibility of healthcare for patients in need, particularly those with low incomes and those living in rural communities. 340B Health educates and advocates for hospitals to maximize the benefits of this program, which requires drug manufacturers to provide outpatient drugs at reduced prices to eligible healthcare facilities.
Hospitals comprising the 340B Health membership span from some of the nation's largest non-profit academic medical centers to smaller rural community-based facilities. These hospitals play a crucial role in providing care for a significant number of patients with low-income backgrounds and rural populations. By advocating for their interests and facilitating the implementation of the 340B Program, 340B Health ensures these institutions can continue to fulfill their mission and serve their communities effectively.
The 340B Program is an essential tool for these hospitals in ensuring the financial sustainability of their outpatient drug programs and maintaining their ability to offer affordable healthcare services to their patient base. 340B Health's advocacy and educational efforts allow member hospitals to navigate the complexities of the program and optimize their savings to reinvest in their mission of providing quality healthcare to underserved populations.
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Impact
October, 2024
340B Health plays a vital role in enhancing healthcare accessibility and affordability for patients, particularly those with low incomes and those in rural communities. By advocating for and supporting hospitals that participate in the federal 340B Drug Pricing Program, 340B Health empowers these institutions to provide essential services to vulnerable populations.
Through education and resources, 340B Health ensures that hospitals, health systems, and pharmacies understand the complexities of the 340B program and comply with its regulations. Their offerings include annual national conferences, webinars, and online tools, alongside personalized technical assistance to address specific needs. This comprehensive support helps member hospitals navigate the requirements of the program and adapt to changing legislative and regulatory environments.
Additionally, 340B Health keeps its members informed about crucial developments in public policy and operational compliance, fostering a community of shared knowledge and advocacy. By organizing conferences focused on these themes, 340B Health creates a platform for stakeholders to collaborate and discuss strategies to better serve their communities.
As a result of these efforts, 340B Health significantly contributes to the mission of reducing healthcare costs and expanding access to medical services for underserved populations, making a profound impact on community health outcomes across the nation.
This information is meant to be a general summary of 340B Health. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $829,732
- Program Service Revenue: $13,154,838
- Gross Receipts: $16,725,842
Assets and Liabilities:
- Total Assets: $24,919,877
- Total Liabilities: $7,359,287
- Net Assets: $17,560,590
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP DUES
Revenue
$6,625,331
CONFERENCES
Revenue
$4,553,139
CORPORATE PARTNERS
Revenue
$1,648,700
PUBLIC RELATIONS
Revenue
$294,000
WEBINARS
Revenue
$19,200
Organization Details
Founding Year
2006
Principal Officer
Maureen Testoni
Website
www.340bhealth.orgNTEE Category
Code: S41 - Community improvement
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