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 2021 forecast will be reviewed, including the trends observed in 2020, the projected growth in expenditures in 2021, and factors driving that growth, for example, the impact of the COVID-19 pandemic. 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.
Activity Fee: Member - Free / Non-Member - Free
- Identify the methods used in the 2021 drug expenditure projections.
- Discuss the strengths and limitations of the methodologies used for projections.
- Describe historical trends in hospital/clinic prescription expenditures, emphasizing 2020.
- Discuss reasons for anticipated growth in prescription expenditures in hospitals and clinics in 2021 and beyond with a focus on the impact of COVID-19.
- List practical recommendations for use of the 2021 drug expenditures projections in budgeting.
John S. Clark, Pharm.D., M.S., BCPS, FASHP, Associate Chief Pharmacy Officer, Michigan Medicine, Clinical Associate Professor, University of Michigan College of Pharmacy, Ann Arbor, MI
Sandra Cuellar, Pharm.D., BCOP, Clinical Associate Professor, College of Pharmacy, University of Chicago, Chicago, IL
Eric M. Tichy, Pharm.D., M.B.A., BCPS, FCCP, FAST, Division Chair, Supply Chain Management, Mayo Clinic, Rochester, MN
Michelle D. Wiest, Pharm.D., BCPS, FASHP, Vice President, UC Health, Cincinnati, OH, and James L. Winkle College of Pharmacy, University of Cincinnati, Cincinnati, OH
The American Society of Health-System Pharmacists is accredited by the Accreditation Council for Pharmacy Education as a provider of continuing pharmacy education. This knowledge-based activity will provide 1.0 hour (0.1 CEUs) of continuing pharmacy education credits (ACPE#0204-0000-21-037-L04-P, 0204-0000-21-037-L04-T).
Continuing pharmacy education (CPE) for this activity will be processed on ASHP's eLearning portal and reported directly to CPE Monitor. After completion of the live webinar, you will process and claim CPE credit online at elearning.ashp.org. Pharmacists will need the enrollment code that will be announced at the end of the webinar and your eProfile ID from NABP to earn CPE credits. Follow the prompts to claim credit within 60 days after completing the activity.
CE Activity Announcement
The ASHP Section of Pharmacy Practice Leaders is recognized for the organization of this webinar continuing education activity.
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