A Senate committee today shined the spotlight on the wave of high and unexpected increases in prescription drug costs that puts an incredible financial strain on hospitals and health systems and threaten our ability to provide high quality care each and every day.
In a statement submitted to the committee’s hearing on drug prices, the AHA recommended Congress and the administration move quickly to take a number of steps that would increase competition, transparency, access and value, while fostering innovation.
The impact of skyrocketing drug prices goes far beyond hospitals’ and health systems’ budgets. Everyone eventually feels it, including patients, insurance companies, employers, the government and taxpayers. All of us. Even those who are healthy and medication-free pay more when drug prices outpace inflation through increased premiums, co-pays, deductibles and taxes. When drug companies put profits before patients, we all pay the price.
The women and men who work in America’s hospitals and health systems recognize the value of truly innovative, life-saving medicines as much as anyone. But a drug priced beyond our reach or a patient’s reach will not save anyone’s life.