AR SB589

Creates the "340B Program Transparency Act" requiring hospitals and healthcare providers participating in the federal 340B drug discount program to submit annual transparency reports to the Arkansas Department of Health by March 31 each year, starting January 1, 2026

Mandates detailed reporting on how 340B savings are used, including amounts spent on charity care, patient financial assistance programs, expanded healthcare access in medically underserved areas, administrative operations, and contributions to affiliated foundations

Requires disclosure of charity care metrics, patient populations served (broken down by county), number of facilities in medically underserved areas, and contract pharmacy arrangements including names, addresses, and claims processed

Authorizes the Department of Health to review reports, conduct compliance audits, and impose administrative penalties of up to $500 per day for noncompliance, with a maximum of $150,000 per year

Reports will be posted on a publicly accessible website within 60 days of the submission deadline, with provisions allowing covered entities to request confidential treatment of trade secrets or proprietary information