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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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Study ranks top 25 health care drugs by expenditure

Study ranks top 25 health care drugs by expenditure

A study in the journal American Journal of Health-System Pharmacy ranked the top 25 drugs by US expenditure in 2023 based on list price, newly approved drugs and utilization, with semaglutide, adalimumab and apixaban taking the top three spots. Over $38 billion was spent on semaglutide, a 100% increase over 2022. Full Story: Becker's Hospital Review

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US drug spending up 13.5% to $772.5B last year

US drug spending up 13.5% to $772.5B last year

A report from the American Society of Health-System Pharmacists found that total prescription drug spending in the US jumped to $772.5 billion last year, up 13.5% from 2022, largely due to the popularity of blockbuster weight loss drugs. Semaglutide was the top-selling drug in 2023 with total expenditures of $38.6 billion, followed by adalimumab at $35.3 billion and apixaban at $22.1 billion. Clinics and nonfederal hospitals accounted for $135.7 billion and $37.1 billion of total drug...

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Specialty drug markups lead to higher premiums

Specialty drug markups lead to higher premiums

A study commissioned by AHIP estimates that US commercial health insurance premiums jumped $13.1 billion this year due to provider markups on specialty drugs. An analysis of 2021 MarketScan commercial data found that the average costs of the top 10 specialty drugs by total claim dollars were between 50% and 103% higher when supplied by hospital facilities and between 2% and 33% higher when provided by professional offices compared with the average prices in specialty pharmacies. Full...

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