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3 strategies to save money on hospital drug costs

September 2, 2016

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The cost of prescription drugs is one of the most difficult expenses to manage for many hospitals, and prices are steadily rising – even for generics. To get medication spending under control, facilities must consider unique strategies and solutions.

An article from Managed Healthcare Executive details three ways hospitals and health systems are reducing their prescription drug expenses.

Monitoring cuts costs

At Ascension, a medical group from Missouri, prices for generic medication were rapidly increasing – as much as 10.5% in one year for some of the older generic drugs – which added up to $70 million in additional spending.

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