PatientRightsAdvocate.org Launches Nationwide Hospital Drug Price Finder

Empowering Americans to compare prices, save on care, fight overcharges

Today, PatientRightsAdvocate.org (PRA) launched a new, free Hospital Drug Price Finder Tool for consumers to access prescription drug prices in hospitals nationwide. This tool follows a new 3 Axis Advisors report “Analysis of Prescription Drug Prices in Hospitals” which reveals the wide price variation in drug pricing across the country and within the same hospital.

The report found across hospitals that the average maximum-to-minimum negotiated price ratio is 2,347x. Meaning, one insurer might pay $1 while another pays $2,347 at the same hospital on the same day. 

"PatientRightsAdvocate.org applauds 3 Axis Advisors for bringing to light the wide price variation and egregious lack of useable pricing data on prescription drugs in hospitals nationwide,” said PRA Founder and Chairman Cynthia Fisher. “Maximum price transparency with stronger standardization and enforcement will allow patients to shop, make informed choices, and be protected from overcharges.

“We are proud to release a brand new tool to equip Americans with easily searchable drug prices in hospitals across the country,” Fisher continued. “Shifting the power to the consumer empowers Americans to live longer and healthier lives at a much lower cost."

The new tool will allow consumers to compare drug prices across all health plans and the cash price, across regions and hospitals, to be equipped with upfront prices to compare or provide remedy for overcharges without having to navigate complex pricing files.

“We have known for years that the list prices of drugs charged by manufacturers are well inflated relative to their actual cost. But to see health insurers paying hospitals more than four times those list prices is enough to redefine what it means to be inflated in the first place,” said Antonio Ciaccia, President of 3 Axis Advisors. “Hospital data revealed a new level of dysfunction that surprised even us drug pricing cynics. What we found wasn’t just complexity — it was systemic chaos that makes it nearly impossible for payers and patients to understand or predict what they’ll pay at the hospital."

Access the Hospital Drug Price Finder Tool by PatientRightsAdvocate.org. Read Analysis of Prescription Drug Prices in Hospitals from 3 Axis Advisors.