A 2023 Department of Health and Human Services (HHS) report states that costs for drugs are increasing dramatically, some as high as 500%. This sharp increase creates significant challenges for today’s hospitals, most of which are still recovering from the pandemic and operating on razor-thin margins.
Adding to the increased cost of drugs is a drug shortage not seen at these levels since 2014. The American Hospital Association cited recent findings by the ASHP (American Society of Health-System Pharmacists) which tracked 323 active drug shortages during Q1 of 2023. That number surpasses the previous record of 320 active drug shortages in 2014. These drugs include chemotherapy and emergency medications often found in crash carts and procedural areas, according to ASHP CEO, Paul Abramowitz. Read More >
