Vizient- Health systems should expect a nearly 5% spending jump on drugs

Health systems can expect a nearly 5% increase in the cost of their pharmaceutical purchases in 2020, according to a new report. Based on a drug pricing forecast from Vizients pharmacy program, which compiled member participants purchases in hospital and non-acute care settings, pharmaceutical costs will far exceed both inflation and wage growth in 2020, making healthcare less affordable. Other highlights from the forecast include a dramatic change in the approval and introduction of biosimilars into the U.S. market. Nine out of the top 10 drugs (by total spending) among Vizient members in 2020 will be branded biologics, meaning pharmacy and healthcare leaders should start supporting the biosimilars market. Dan Kistner, PharmD, group senior VP of pharmacy solutions for Vizient, noted the changing landscape in the hospital market. “Hospitals are no longer strictly focused on inpatient/acute care services,” Kistner said in a statement. “They are also offering numerous services in the non-acute setting such as outpatient infusions, home infusion, and most importantly specialty pharmacy services. Therefore, the spend profile of our members now includes the new, increasingly specialized medications approved by FDA, which tend to be among the most costly products introduced into practice.”

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