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Healthcare Executives List Top Issues
Pharmaceutical price increases were their top concern of almost every health-system respondent to health care alliance Premier’s biannual survey of economic and industry trends.
This past summer, Premier conducted a survey that evaluated responses from CEOs, CFOs, and COOs from 55 health systems nationwide. Their second-biggest concern was drug shortages, which 95% of the respondents believe will continue to be a problem for at least the next three years.
As reported by Healthcare Finance, a 2014 analysis found that drug shortages increased U.S. hospital costs by an average of $230 million annually, according to Premier, which has been lobbying against skyrocketing drug pricing.
Its industry trade association, the Healthcare Supply Chain Association, sent two letters to Congress and the FDA earlier this month asking for a process to assess the cost-effectiveness of drugs and for ways to speed up the approval process backlog that is blocking new generic entrants into the market, according to Premier's COO Michael J. Alkire.
"A potential solution to rising drug costs being considered is for manufacturers to replace their fee-for-service contracts with those that reward how well their products work," Alkire said in a statement. "Another challenge is the lack of cross-continuum clinical data, so the ability to effectively track drug performance is limited."
Source: Healthcare Finance, October 21, 2015.