The problem has been increasing this year as drug shortages continue. Normally cheap generic injected medicines have become extremely expensive as drug companies mark up prices to reap a profit from desperate hospitals and healthcare facilities.
The Associated Press reported in mid-Sept. 2011 that at least 15 patient deaths have resulted from the shortages. Sen. Schumer’s bill would make price gouging on prescription drugs already in short supply a federal crime.
Sen. Schumer’s bill will be introduced next week, according to the report. Companies that price gouge scarce drugs would receive penalties of up to $500 million per case of price gouging.
Related Articles on Drug Shortages:
AMA Adopts Policy to Address Drug Shortages
Obama to Sign Executive Order Instructing FDA to Act on Drug Shortages
8 Steps to Ensuring Safe, Reliable Medication Purchases During Drug Shortages
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.
