Thanks to rising pharmacy spending, our 2024 healthcare bills are outpacing national GDP growth. The latest Health Sector Economic Indicator Brief from Altarum revealed an interesting tidbit about what is driving the increase and it’s not what you think. Prescription drug prices only went up by 0.3% in February, but the amount of medication people are taking grew by a whopping 7.7%.
Extreme couponing is a cultural phenom featured on reality TV, but coupons are not just for the grocery store anymore. Pharmaceutical companies got in on the action. The general idea around offering a coupon is to attract consumers to your higher-priced product by offering a limited-time discount.
Generic drug shortages are becoming a chronic condition in the United States. Shortages lead to a domino effect across the healthcare landscape because the lowest-cost medication is not readily accessible. Last week, the Federal Trade Commission (FTC) and the Department of Health and Human Services (HHS) issued a Request for Information to Group Purchasing Organizations (GPOs) and drug wholesalers to investigate how competition, contracting, and regulatory policies impact generic drug availability. Missing from the discussion is how HealthTech companies could manage the gaps.
According to HHS’ Office for Civil Rights (OCR), an average of 57 health data breaches are reported each month, putting sensitive information at risk for millions of people. Healthcare organizations are prime targets for malicious attacks because health information contains private and deeply personal data that can be used to extort, embarrass, or harm individuals.
The Centers for Medicare and Medicaid Services (CMS) is proposing a change to self-funded small employers that could roll back some of these protections and undermine state insurance oversight.
Drug costs are skyrocketing, but why? This is an essential question to ask since we must understand the cause of high drug costs in order to properly address the problem. As someone who has worked in healthcare and life sciences technology for more than twenty-five years, I’ve seen drug costs grow and dominate pharmacy budgets across the United States. Despite substantial technological improvements during this period, drug prices remain unaffordable for many Americans. After extensive contemplation, I’ve concluded that the root causes of high drug costs fall into five categories.
According to a recent survey of 1,200 healthcare providers by the National Center for Primary Care at the Morehouse School of Medicine, physicians have been slow to adopt digital health technologies such as mobile apps, wearables, and remote patient monitoring. These tools allow providers to better manage acute and chronic conditions and reduce patients’ travel costs and infection risk.
Austin health-tech startup is growing quickly amid rampant tech layoffs. AUSTIN, TX, March 9, 2023 – RazorMetrics, a rapidly growing healthcare technology company focused on
A new study out by Prescryptive Health, a healthcare technology company, found that while 95% of people know they can comparison shop for drugs, very few do.
The Inflation Reduction Bill passed the House last November (2021) then it hit the Senate and stalled. After a long pause and some wheeling and dealing, it squeaked by in the Senate on August 7th. Then, it flew back through the House on Friday the 12th and now, will be signed by the President in the coming days. Now that it has passed the legislature, here is what you need to know about how the Inflation Reduction Bill will impact healthcare:
And, we are waiting…
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