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Rising Drug Costs Are Handcuffing Healthcare

NJ Hospital Expenses: Annual Percent Change line graph

The rapid growth in drug costs in recent years has placed a burden on the healthcare system, affecting both consumers and providers. Drug prices are a major contributor to the rising cost of healthcare coverage and to the escalation of healthcare spending overall. A recent congressional study found brand name drug prices have increased 10 times the rate of inflation over the past five years. In New Jersey alone, hospital spending on drugs more than doubled between 2008 and 2017.

These skyrocketing drug prices are handcuffing hospitals in New Jersey and beyond by forcing them to divert resources that could be better used to enhance patient care. READ MORE.