Overall drug price inflation will be 1.3% in 2010 for acute care hospitals, according to estimates released today by Novation Pharmacy Program.
The estimate, published in Irving, TX-based Novation's 2010 Drug Price Forecast, anticipates that the price change for contract products from July 1, 2010 through June 30, 2011 will be 0.99% while noncontract products will be 1.83%.
The forecast is focused on pharmaceutical use in acute care hospitals. The drugs analyzed represent the top 80% of pharmaceutical purchases through pharmacy authorized distributors from Nov. 1, 2008, through Oct. 31, 2009, by Novation Pharmacy Program participants.
The report usually includes estimates for volume and mix changes, and an estimate for additional new drug expense taken from the American Journal of Health-System Pharmacy's annual future drug expenditures report. However, the 2010 edition of the AJHSP report had not been published when Novation's report was finalized.
Novation said it will update its forecast with this information when it is available.
John Commins is a content specialist and online news editor for HealthLeaders, a Simplify Compliance brand.