340B drug pricing program transparency - definitions

(1) As used in this section: (a) "340B drug pricing program" or "340B program" means the program described in 42 U.S.C. sec. 256b (a)(1). (b) "340B savings" means the difference between the aggregated market rate costs and the aggregated acquisition costs for 340B drugs. (c) "Hospital covered entity" means a hospital licensed or certified by the department pursuant to the department's authority under section 25-1.5-103 (1)(a) and that is a "covered entity" as defined in 42 U.S.C. sec. 256b (a)(4). (2) Except as provided in subsection (3) of this section, each hospital covered entity that is a reporting hospital, as defined in section 25.5-1-701, shall include the following information in the annual report submitted pursuant to section 25.5-1-703 (3): (a) The annual, reported 340B savings to the hospital covered entity resulting from its ability to acquire pharmaceuticals at a discount through the 340B drug pricing program; (b) A description of how the hospital covered entity uses savings from participation in the 340B program; (c) The aggregated market rate costs and the aggregated acquisition costs for 340B drugs used to calculate 340B savings; and (d) The total operating costs of the hospital covered entity and costs relating to providing charity care. (3) Nothing in this section requires the public disclosure of records that are public records under the "Colorado Open Records Act", part 2 of article 72 of title 24, but that are exempted from disclosure under that act.