As more generic come to the market, the name brands go up, perhaps not all, but maybe those where there is no generic equivalent. Sorry guys, it looks like Viagra is in the loop too. Everyone is searching to find a place to replace income in other areas that is shrinking. This is only a temporary solution as eventually you run out of places to look. BD
Hospitals and pharmaceutical companies have been pushing through hefty price increases aimed at bolstering earnings, even as government and private insurers are struggling to rein in healthcare costs.
Drug makers increased prices on drugs like Viagra and the leukemia pill Sprycel by more than 20% in the first quarter from a year earlier, according to data from Credit Suisse. Meanwhile, one of the largest hospital owners in the country, HCA Inc., said Tuesday it expects to report higher revenue for the first quarter even though it had fewer hospitals and its admissions decline.
In another related article, hospital pharmacies are reducing budgets as well as cutting staff at some facilities.
Hospital pharmacy departments are feeling the pinch of the economic crisis, according to a survey by the American Society of Health-System Pharmacists.
Sixty-six percent have reduced their medication budgets, 37% have had staffing budget cuts in the past six months, 22% have frozen vacant positions, and 10% have laid off staff, according to the survey of 541 hospitals nationwide.
On the bright side, 23% of respondents said that they have more leadership opportunities because of voids in other departments.