A new report by National Opinion Research Center (NORC) at the University of Chicago has found that hospitals are also feeling the squeeze from high drug prices. Inpatient drug spending increased by 23.4 percent annually from 2013 to 2015, compared with 9.9 percent annual increases on retail drug spending during the same period. The price hikes driving the spending increases “appear to be random and inconsistent from one year to the next,” the researchers wrote. About half of the drug price hikes in the report occurred in drugs with no generic competitors. The often high costs of prescription medication has come under fire recently as companies raise prices for older drugs like the EpiPen and naloxone, putting further pressure on the ever more expensive cost of care in the United States.
Access further details via the American Hospital Association here.