340B Transparency Act

This bill amends the Public Health Service Act to increase transparency and oversight of the 340B drug discount program. It requires covered entities to report detailed data on drug usage, savings, and costs, and allows the Secretary of Health and Human Services to audit how savings are used.

Sec. 2, Ensuring transparency and oversight of the 340B drug discount program: This section amends the 340B program to require covered entities to permit audits by the Secretary on how savings from discounted drugs are used and to retain records as needed. It also mandates annual reporting by covered entities, including the number of patients receiving discounted drugs broken down by insurance category, the percentage of patients in each category, total costs and charity care costs, costs minus payments from Medicare, Medicaid, and uninsured patients, and savings from discounted drugs. The Secretary must publish this data annually on a public website. The section defines 'off-campus outpatient department' and 'savings' as the difference between the price the entity would have paid without the 340B discount and the ceiling price. It also adds civil monetary penalties for non-compliance with the reporting requirements and requires the Secretary to issue an interim final rule within 180 days of enactment.