In a new report, ICER highlighted AbbVie’s price hikes on Humira, which the group said resulted in more than $1 billion in U.S. spending last year without any new evidence of health benefits.
The nonprofit’s volumes increased even though its COVID-19 census plateaued later in the quarter, as patients who deferred care during the pandemic sought treatment, hiking expenses.
The 15% jump in Part B premiums for 2022 is a case study in how just one expensive medication can affect the spending of millions in the U.S.
Labor costs at the largest nonprofit health system in Texas surged 12% in the quarter ended in September, contributing to a 7% drop in income from operations.
“The PBM market lacks the three elements essential for competition — choice, transparency and a lack of conflict of interest,” antitrust attorney David Balto argues.
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The work stoppage, which would have been the largest in the U.S. so far this year, had the potential to significantly disrupt operations at the nonprofit’s 14 hospitals and more than 200 clinics in the region.
“You saw how groups tightened their belts and there was some learning from this that you’re not going to let go of,” Elizabeth Siemsen, one of the report’s authors, said.
The pay increase will affect roughly 41% of the health system’s more than 75,000 employees. Workers set to see a boost in pay, include food and environmental service workers, pharmacy techs and licensed practical nurses.
If officially nominated and confirmed by Congress, the cardiologist would return to lead an agency taxed by a heavy workload reviewing COVID-19 drugs and vaccines.