HealthLeaders Media September 27, 2021
National hospital prescription drug expenditures are surging. In 2019, non-federal hospitals and clinics spent $36.9 billion and $90.3 billion, up 1.5 percent and 11.8 percent from 2018, respectively, according to a July 2020 article in the American Journal of Health System Pharmacy.
Similar increases were predicted for 2020.
As hospital prescription drug spending continues its upward trajectory, now more than ever, it is critical that provider organizations perform comprehensive recurring pharmacy formulary reviews to stay compliant with the main accreditation organizations and to ensure they are correctly reimbursed for their drug spend.
Compliance: The critical link between the pharmacy formulary and the chargemaster
Administered medications must be properly documented to support coding and billing requirements for pharmaceutical drugs. As part...
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