340B Reporting and Accountability Act

This bill amends the 340B drug discount program to require covered entities (like hospitals and clinics serving low-income patients) to provide outpatient drugs to patients at a price not exceeding their purchase cost minus any discounts. It adds a new requirement that these entities must charge patients no more than what they paid for the drugs after accounting for rebates. The bill also mandates annual reporting to the government on drug spending, revenue from pricing above cost, and how any excess revenue is used, with all data made publicly available. These changes directly affect 340B program participants and aim to increase transparency in how drug discounts are applied and managed.