Facts and figures that highlight key supply chain trends.
May 2023 – The Journal of Healthcare Contracting
Patients are Migrating to Outpatient and Stand-Alone Facilities
Is your Supply Chain keeping up?1
Orthopedics, Including Total Joint Replacements, Account for 37% of Ambulatory Surgery Volume.2
Inpatient Total Joint Replacements Cost, on Average: $19,361
Outpatient Total Joint Replacement Cost, on Average: $11,6773
40% Difference
Contract Labor Costs for Hospitals Jump During the Global Pandemic
258%
rise from 2019 to 2022.5
Onshoring Initiatives Taking a Toll on Chinese Imports to the U.S.
Between August of 2022 and March of 2023 there has been a drop of 41.6%6
FDA Class 1 Recalls Hit 15-Year High in 2022
In 2022, the FDA oversaw 70 Class 1 recalls (the highest risk classification) compared to an average of 47 per year over the past five years.7
New Semaglutide Drugs May Break Your Bank
Wegovy and Saxenda can cost up to 20 times more than older weight loss drugs. To put this in perspective, if Medicare approved the use of these weight loss drugs (they are currently prohibited from paying for them), brand-name semaglutide pills would add spending of $26.8 billion annually. This would represent an increase of 18.5% to overall Medicare spending.8
Ozembic used as an off-label treatment isn’t the answer for some patients. Some independent pharmacies stopped carrying it because they pay around $900 for a 30-day supply but are only reimbursed about $860. Hardly a profitable business proposition!9
1 American Hospital Association, accessed March 3, 2023.
2 Ambulatory Surgery Association 2023.
3 Becker’s Hospital Review, accessed March 8, 2023.
4 L.E.K. Consulting, Accessed at Becker’s Hospital Review, March 13, 2023.
5 Journal of Healthcare Contracting, November, 2022.
6 freightwaves.com, accessed April 17, 2023.
7 Taylor, Nick Paul, Med Tech Dive, March 3, 2023.
8 New England Journal of Medicine, March 11 2023.
9 Becker’s Hospital Review, March 6, 2023.