High Drug Prices: Hospitals Hike Some Charges 250%
Stat examined data from 30 hospitals. Industry news is also on Mark Cuban's entry into generics, Teladoc's emergence, and more.
Stat:
Hospitals Mark Up Some Medicines By 250% On Average
As Americans grapple with the rising cost of prescription drugs, a new analysis found that some hospitals mark up prices on more than two dozen medicines by an average of 250%, underscoring the incentives to use more expensive brand-name treatments than lower-cost biosimilars. For instance, hospitals charged more than five times the purchase price for Epogen, which is used to treat anemia caused by chronic kidney disease for patients on dialysis. (Silverman, 1/20)
Stat:
CEO Of Mark Cuban's Generics Company Talks Drug Pricing, Manufacturing
In a surprise move, Mark Cuban last week announced plans to enter the generic drug business with a new company bearing his name. The famed investor – known widely for his appearances on Shark Tank – has actually been eyeing the pharmaceutical world for a while. Two years ago, Cuban decided to work with Alex Oshmyansky to sell low-cost medicines. (Silverman, 1/21)
Stat:
How Teladoc Is Teeing Itself Up To Dominate Telehealth After Covid-19
Teladoc is teeing itself up to remain a dominant digital health provider long after the worst of the pandemic subsides. The telehealth giant, like many other virtual care companies, has seen its business boom with the flood of patients turning to virtual appointments as the crisis continues. (Brodwin, 1/21)
Also —
AP:
UnitedHealth Overcomes Pandemic Hit And Tops 4Q Expectations
UnitedHealth’s fourth-quarter earnings tumbled as costs from COVID-19 hit the health insurance provider, but results still easily beat expectations. Health care use rebounded in the final quarter of 2020 after the global pandemic kept people away from doctor offices and surgery centers when it first spread earlier last year. (Murphy, 1/20)
