Drug Prices and Shortages Increase Hospitals’ Costs and Jeopardize Patient Access to Care Infographic. Drug companies continue to introduce new drugs at record prices. The median annual list price for new drugs in 2023 was $300,000, an increase of 35% over the previous year. Average list price increases for existing drugs skyrocketed between 2022 and 2023 and have consistently outpaced general inflation. Drug shortages were the highest in a decade, adding as much as 20% to hospitals’ drug expenses.

Drug Prices and Shortages Increase Hospitals’ Costs and Jeopardize Patient Access to Care Infographic

Drug companies continue to introduce new drugs at record prices. The median annual list price for new drugs in 2023 was $300,000, an increase of 35% over the previous year. Average list price increases for existing drugs skyrocketed between 2022 and 2023 and have consistently outpaced general inflation. Drug shortages were the highest in a decade, adding as much as 20% to hospitals’ drug expenses.
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