Drug Prices
Drug companies continue to introduce new drugs at record prices. The median annual list price for new drugs in 2023 was $300,000, an increase of 35% over the previous year.
Glucagon-like peptide-1 agonist drugs have been surging in popularity, and manufacturers are scurrying to keep up with demand. Overall, the GLP-1 market is expected to experience annual growth exceeding 20% and will hit $133 billion worldwide by 2030, according to a MarketWatch report from February鈥
The Centers for Medicare & Medicaid Services May 3 announced the opening of the comment period for the Inflation Reduction Act鈥檚 Medicare Drug Price Negotiation Program, which will negotiate prices with drug makers for certain high-cost, sole-source drugs and apply them beginning in 2026.鈥
Hospitals appreciate the support and resources that Congress have provided throughout the COVID-19 pandemic; however, additional support is needed to keep hospitals strong so they can continue to provide care to patients and communities.
The Department of Health and Human Services (HHS) and the Health Resources and Services Administration (HRSA) April 19 published the 340B Administrative Dispute Resolution (ADR) final rule establishing a process that was required under the Affordable Care Act.
White House Domestic Policy Council Director Neera Tanden spoke to Annual Meeting attendees about the environment hospitals and health systems are facing and the Biden Harris Administration鈥檚 efforts to strengthen the health care system so that it works for everyone.
The virtual care platform Wheel recently made news by saying it would add mental health provider Talkspace, Mark Cuban鈥檚 Cost Plus Drug Company and the data-sharing program Health Gorilla into its integrated health care ecosystem this year.
The Federal Trade Commission and Department of Health and Human Services Feb. 14 requested comments for 60 days on market concentration and contracting practices among group purchasing organizations and drug wholesalers to understand their potential impact on pricing and generic drug shortages.
The AHA shares comments on the topic of national health expenditures before the House Committee on Energy and Commerce Subcommittee on Health .
CVS Health plans to launch its CVS CostVantage and CVS Caremark TrueCost programs in 2025. CostVantage will define the drug cost and related reimbursement with contracted PBMs and payers, CVS noted in a statement.