A study published March 1 in BMJ found Medicare and private health insurers waste nearly $3 billion annually buying oversized single dose vials of cancer drugs. The expensive cancer drugs must be either administered or discarded once open and there is nearly always some left over, according to researchers at New York City-based MemorialSloanKetteringCancerCenter, who published the study. The entire amount of the drug in the vial must be paid for, even if there are leftovers that get thrown away.
“I urge you to decrease wasteful spending at the Department of Veterans Affairs from using oversized single-dose vials,” the senator wrote, according to the report. “Researchers from MemorialSloanKetteringCancerCenter estimated that oversized single-dose vials of cancer drugs lead to drug wastage costing the United States healthcare system around $3 billion annually. VA must take immediate action to cut costs associated with wasting of expensive drugs.”
Sen. Blumenthal outlined a number of suggestions for the VA on how to lower expenditures on cancer drugs, such as requiring drug companies to provide the VA with the best value on pharmaceutical products and to refund the agency for leftover medication in a single-dose vial. He also advised the VA to establish a policy on vial sharing and repacking of single-dose vials when appropriate. Finally, Sen. Blumenthal said the VA must establish a means to track the amount of injectable drugs administered and wasted to monitor the cost of the wasted drugs.
More articles on finance:
Piedmont receives $75M donation for heart care, capital improvements: 5 things to know
Former hospital executive takes on ‘price gouging’ in healthcare, asks for presidential candidates’ support
eClinicalWorks granted tax break in Mass.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
