November 20, 2018

Around the Nation: Pfizer announces plan to hike drug prices

Daily Briefing

    Pfizer said it will increase list prices for 41 of its drugs, which represent 10% of the company's drug portfolio, in today's bite-sized hospital and health industry news from Arizona, Kentucky, and New York.

    • Arizona: Phoenix Children's Hospital's iPad program this month received a 2018 Mobie Award for Best Use of Innovative Mobile Technology. The hospital installed 400 customizable iPads in patients' rooms that they can use to access their medical records and treatment information as well as social media, games, and music. David Higginson, chief information officer for Phoenix Children's, called the iPads "an elegant solution for patient entertainment and engagement" (Ringle, Phoenix Business Journal, 11/16).

    • Kentucky: Humana on Tuesday announced that it will collaborate with peer-to-peer service platform startup Papa to offer a "grandkids-on-demand" benefit to members of its Medicare Advantage plans. The program will connect Medicare Advantage members with young adults that can help the seniors with small tasks and socialize with them. The program is meant to reduce feelings of loneliness and social isolation for seniors (Larson, Louisville Business First, 11/16).

    • New York: Pfizer announced Friday that it will increase prices on 41 of its medicines, which represent 10% of the company's drug portfolio, in January of 2019. Most drugs will see prices rise by 5%. Pfizer earlier this year suspended planned price increases after talks with President Trump. Pfizer at the time said it would maintain those lower prices until the end of this year or until the Trump administration implements the blueprint, whichever came first (Erman, Reuters, 11/16).

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