CHOP shows how to combat high drug prices: Reduce waste
The Children's Hospital of Philadelphia won a 2017 Pediatric Quality Award from the Children's Hospital Association for a project that cut $2.6 million in costs related to a high-cost medication.
The Children's Hospital of Philadelphia won a 2017 Pediatric Quality Award from the Children's Hospital Association for a project that cut $2.6 million in costs related to a high-cost medication used in the cardiac and pulmonary hypertension poulations, the hospital association said Thursday.
After Valeant Pharmaceuticals acquired the generic medication, isoproterenol, its price rose from $208 to $1,700 per injection, making it the second-highest individual drug expense for the University City institution, the hospital association said.
CHOP developed a system to improve the way it stored and dispensed the medication, cutting by $1.2 million what it spent on the drug and eliminating $1.4 million in waste.