The survey polled 712 U.S. community hospitals and two group purchasing organizations.
Here are four things to know:
1. Between 2013 and 2015, a new survey found average annual drug prices increased 23.4 percent, from $5.2 million to $6.5 million, for patients staying in community hospitals.
2. Hospital spending on drugs on a per admission basis rallied almost 39 percent, hitting $990 per admission.
3. At the same time, payer reimbursement is failing to keep pace with price increases. Hospitals are engaging in a balancing act, managing increasing drug prices with pharmaceutical price inflation.
4. The survey found more than 90 percent of surveyed hospitals reported recent price jumps for inpatient drugs had a moderate or severe effect on managing costs. Price hikes totaling 10 percent to 20 percent may impact hospitals’ ability to manage cost.
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