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National Trends in Prescription Drug Expenditures: Projections for 2024

Planned in cooperation with the Section of Pharmacy Practice Leaders

ACPE Activity Number: 0204-0000-24-529-H04-P/T
Release Date:  May 28, 2024
Expiration Date: May 28, 2027
Activity Type: Knowledge-based 
CE Credits:  1.0 contact hour, (0.10 CEUs)
Activity Fee: Member – Free / Non-Member – Not Available 

This activity is a recording from a live webinar and those that claim credit for the live webinar should not claim credit for this activity.

Activity Overview 

The annual forecast of pharmaceutical expenditures in hospitals and clinics provides pharmacy managers with detailed information on trends in prescription expenditures, new drug approvals, patent expirations, and other factors that may impact drug spending in the future. The methods and main findings of the 2024 forecast will be reviewed, including the trends observed in 2023, the projected growth in expenditures in 2024, and factors driving that growth, for example, the impact of biosimilars. Suggestions for how to best use the forecast in an individual hospital or health system will also be provided. Audience participation is encouraged and questions from the audience will be answered by the speakers. 

   
The American Society of Health-System Pharmacists is accredited by the Accreditation Council for Pharmacy Education as a provider of continuing pharmacy education with Commendation.

This activity was planned to meet the educational needs of pharmacy leaders responsible for analyzing their drug usage trends and developing their organization’s pharmacy budget. 

After completing this activity, the learner should be able to…

  • Identify the strengths and limitations of the methodologies used for expenditure projections.
  • Summarize historical trends in hospital and clinic prescription expenditures and reasons for anticipated growth.
  • Discuss practical recommendations for use of the 2024 drug expenditures projections in budgeting.  

  • Introduction and Announcements 

  • Presentation  

  • Questions, Answers, and Discussion 

John S. Clark, PharmD, MS, BCPS, FASHP
Associate Chief Pharmacy Officer
University of Michigan Health
Clinical Associate Professor
University of Michigan College of Pharmacy 

Sandra Cuellar, PharmD, BCOP, FHOPA, FASHP
Clinical Associate Professor
University of Illinois College of Pharmacy
Clinical Oncology Pharmacist
UI Health 

Matthew H. Rim, PharmD, MS, FASHP
System Director of Ambulatory Pharmacy Services
Northwestern Medicine, Chicago, IL 

Eric M. Tichy, PharmD, MBA., BCPS, FCCP, FAST (Moderator)
Division Chair, Supply Chain Management
Associate Professor of Pharmacy
Mayo Clinic  

In accordance with our accreditor’s Standards of Integrity and Independence in Accredited Continuing Education, ASHP requires that all individuals in control of content disclose all financial relationships with ineligible companies. An individual has a relevant financial relationship if they have had a financial relationship with an ineligible company in any dollar amount in the past 24 months and the educational content that the individual controls is related to the business lines or products of the ineligible company. 

An ineligible company is any entity producing, marketing, re-selling, or distributing health care goods or services consumed by, or used on, patients. The presence or absence of relevant financial relationships will be disclosed to the activity audience. 

  • No one in control of the content of this activity has a relevant financial relationship (RFR) with an ineligible company. 

This activity consists of recordings of faculty slides presentations, active learning activities, discussion, and handouts. Participants must participate in the activity in its entirety to claim continuing pharmacy education credit online at ASHP Learning Center. Follow the prompts online to complete the evaluation, claim credit and view the statement of credit immediately after completing the activity. 

Per ACPE requirements, CPE credit must be claimed within 60 days of being earned. Once you have processed and claimed your CE credit, we encourage you to check your NABP eProfile account to verify your credits were transferred successfully before the ACPE 60-day deadline. It is an electronic direct-report process so your credits should appear in your account within a few minutes. After the 60 day deadline, ASHP will no longer be able to report your credit(s) for this activity.