Drug Price Forecast Projects 4.57% Increase in 2020 Hospital Drug Spending

Vizient, Inc. announced the release of its July 2019 Drug Price Forecast. The forecast projects that health systems-including inpatient and non-acute environments-can expect a 4.57% increase for pharmaceutical purchases made from Jan. 1, 2020 to Dec. 31, 2020. The forecast also includes projections for specialty pharmacy and pediatric-specific medications.

Highlights from the forecast report include:

• Specialty drug price inflation is predicted to be 4.23%

• The composition of the U.S. biosimilars market could change dramatically in the very near future

• Drug shortages compromise patient care and contribute to higher costs, both direct and indirect

• Providers treating leukemia patients will experience higher costs as the standard of care shifts to new therapy combinations

• Supply challenges in the Immune globulin intravenous (IgIV) market will continue and prices are expected to steadily rise 

The forecast can be accessed here.