Drug Costs In Hospitals & Clinics To Rise 4 Percent

The cost of medications administered by clinics and hospitals are expected to rise by as much as 4 percent this year, which is less than in previous years, thanks to the increasing availabitily of lower-cost generics, according to a study in the American Journal of Health-System Pharmacy. Specifically, medication expenditures are projected to rise between 1 percent and 3 percent across all clinics and hospitals not run by the federal government. But medication costs are forecast to increase between 2 percent and 4 percent in clinics, while there will be a 1.5 percent gain ih hosptials. “In the aggregate, drug expenditure growth is moderating, especially in the hospital setting,” says lead author James Hoffman, medication outcomes and safety officer and an associate member in pharmaceutical sciences at St. Jude Children’s Research Hospital in Memphis, says in a statement. “But we also see dramatic increases in growth when looking at specific drugs, such as biologics frequently used in clinics.” From September 2011 to September 2012, prescription sales in the US totaled $326 billion, a 0.8 percent increase from the previous 12 months, which the study noted was the lowest in recent years. Why? The study authors cite “slowing to modest” increases in expenditures for new products (3.3 percent) and pricing of existing products (5.9 percent), along with an 8.4 percent drop in overall volume and mix. Antineoplastic agents were the top medication expenditur...
Source: Pharmalot - Category: Pharma Commentators Authors: Tags: Uncategorized Affordable Care Act Contraceptives Epogen Lovenox Procrit Prolia Remiicade Rituxan Xgeva Source Type: blogs