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Summary
The 1992 purchasing outlook predicts economic recovery but significant pharmaceutical price increases. This rise is linked to the 1990 Medicaid drug rebate legislation and hospital cost adjustments.
Area of Science:
- Healthcare Economics
- Pharmaceutical Policy
Background:
- The Joint Purchasing Corp. (JPC) provides an annual purchasing outlook for the upcoming year.
- The 1990 Medicaid drug rebate legislation introduced new financial considerations for pharmaceutical pricing.
Purpose of the Study:
- To forecast the 1992 economic and pharmaceutical purchasing environment.
- To identify key factors influencing pharmaceutical price trends.
Main Methods:
- Analysis of economic indicators and legislative impacts.
- Review of purchasing trends and price forecasts from industry experts.
Main Results:
- A challenging winter is anticipated, followed by a mild economic recovery in spring/early summer.
- Pharmaceuticals are projected to experience substantial price increases.
- Hospital pharmaceutical price hikes are a contributing factor to overall pharmaceutical cost increases.
Conclusions:
- The 1990 Medicaid drug rebate legislation is a significant driver of anticipated pharmaceutical price inflation.
- Healthcare purchasers should prepare for increased pharmaceutical expenditures in 1992.