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The AHA May 22 released a new infographic and blog highlighting how increasing drug prices and shortages are jeopardizing patient access to hospital care and exacerbating challenges hospitals are experiencing. The documents show that in 2023 drug companies continued to introduce new drugs at record prices while existing drug prices skyrocketed and consistently outpaced general inflation. The median annual price for new drugs was $300,000, an increase of 35% from the prior year. In addition, the documents highlight how drug shortages were the highest in a decade, and managing drug shortages adds as much as 20% to hospitals’ drug expenses. 

“Though the problem of high drug prices is not a new issue for hospitals and health systems, the rate at which drug prices are increasing combined with the problem of drug shortages is becoming unsustainable for the field and having a direct impact on patient outcomes,” the blog notes. “Higher drug prices and increasing drug shortages mean more costs for hospitals and health systems to bear, further stretching their limited resources and ultimately jeopardizing patients’ access to needed care.”

The infographic and blog build on analysis from AHA’s Costs of Caring report that was released earlier this month.