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U.S, Senators: Patent reform needed to lower drug prices

U.S, Senators: Patent reform needed to lower drug prices

Republican and Democratic senators agreed at a recent Senate Judiciary Committee hearing to focus on patent reform to stop pharmaceutical firms from extending their product patents, which drives high prescription drug prices. Experts who attended the hearing said improving coordination between the FDA and the US Patent and Trademark Office on patents listed on the Orange Book could help address the issue. Full story:...

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Drug price hikes, shortages jeopardize access to care

Drug price hikes, shortages jeopardize access to care

Rising drug prices and ongoing shortages are not only hurting the finances of hospitals and health systems, but also threatening  access to necessary care for patients, according to an American Hospital Association analysis. The report found that drug prices rose an average of 15.2%, while the median price for new medications jumped 35% to $300,000 last year. Full Story: https://www.beckershospitalreview.com/pharmacy/drug-shortages-in-2023-were-highest-in-a-decade-aha-says.html

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Senators accuse drugmakers of exploiting patent system

Senators accuse drugmakers of exploiting patent system

Republican and Democratic senators at a committee hearing accused pharmaceutical firms of abusing the US patent system to keep their prescription drug prices high. Novo Nordisk's Ozempic and Eli Lilly and Co.'s Humalog were cited as examples of a drug industry practice called evergreening, which allows companies to extend patents by making minor changes to the medicine or delivery device. Full...

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Rising hospital prices keep US inflation elevated

Rising hospital prices keep US inflation elevated

Hospital prices rose 7.7% last month compared with the same period last year, the highest monthly increase since October 2010, according to the Labor Department, and economists said higher hospital costs are one of the reasons why US inflation remains high. Angioplasty, intensive newborn care and breast biopsy were among the procedures with recent large price increases, rising by about $670, $200 and $220, respectively, in the first quarter of this year compared with the same period a year...

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Hospitals charge insurers much more than Medicare rates

Hospitals charge insurers much more than Medicare rates

A RAND analysis of claims data from over 4,000 US hospitals found that private and employer-based insurance providers paid 254% more for inpatient and outpatient hospital services, on average, than Medicare in 2022. Researchers examined data from 49 states and Washington, D.C., and they found a significant variation in hospital price ratios among states, ranging from less than 200% in Iowa, Arkansas, Michigan, Mississippi and Massachusetts and more than 300% in Florida, California, New York,...

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Health care costs among older Americans’ top concerns

Health care costs among older Americans’ top concerns

Data from the University of Michigan National Poll on Healthy Aging showed that health care expenses, including the costs of medical care, assisted living, prescription drugs, health insurance and dental care, were among the top concerns of many Americans older than 50, regardless of gender, age, race and income level. The survey also found that older women were more likely to be concerned about loneliness, social isolation and access to care than men, while Black people were more likely to be...

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