Tag Archives: Costs

Third-party risk costs the healthcare industry $23.7 billion per year, report finds

The inability to adequately assess and understand the risks that vendors pose is becoming incredibly costly to healthcare providers, according to a new report released today by Censinet and the Ponemon Institute. The yearly hidden costs of managing vendor risk is $ 3.8 million per healthcare provider, far surpassing the $ 2.9 million that each… Read More »

Drug shortages add millions to hospital costs, survey finds

Dive Brief: Hospitals in the U.S. spent more than 8.6 million hours of additional worker hours and just under $ 360 million per year to manage drug shortages, according to a first-of-its-kind survey from healthcare performance management firm Vizient. All 365 hospitals responding to the survey experienced shortages and two-thirds reported at least 20 shortages… Read More »

World’s most expensive drug costs $US2m

Gene therapy drug Zolgensma has become the world’s most expensive drug, with the one-time treatment priced at $ US2.1255 million ($ A3 million). Swiss drugmaker Novartis has won US approval for its gene therapy Zolgensma for spinal muscular atrophy (SMA), the leading genetic cause of death in infants. Novartis executives defended the price, saying that… Read More »