The IMS Institute for Healthcare Informatics released a new study that uncovers unneccesary healthcare costs. The research institution argues that more than $200 billion are incurred each year in the U.S. healthcare system as a result of medicines not being used responsibly by patients and healthcare professionals, The report’s key findings include the following:
- Medication nonadherence drives the largest avoidable cost.
- Delays in applying evidence-based treatment to patients lead to $40 billion in annual avoidable costs. This occurs when medicines are not delivered topatients at a time that would be most valuable in terms of health outcome and cost effectiveness.
- Some signs of improvement are evident in the responsible use of antibiotics. The misuse of antibiotics contributes to antimicrobial resistance and an estimated $34 billion each year in avoidable inpatient care costs.
- Many efforts are underway to address the underlying causes of avoidable spending and to improve medication use. A large number of initiatives are advancing across the healthcare landscape, including novel interventions, critical assessments of established solutions and pioneering models of stakeholder cooperation. Many of these initiatives involve a greater role for pharmacists, an integrated approach to addressing patient issues, alignment of financial incentives, and greater use of healthcare informatics to guide decision-making and monitor progress.