Drug innovation continues to revolutionize the way we treat patients — presenting the opportunity to cure previously uncurable conditions. Cell and gene therapies offer curative treatments for conditions that had few or no options before, and the approval of GLP-1s for weight loss has opened the doors for a new era of obesity care.

But these innovations come with huge costs, forcing our industry to grapple with questions of access, affordability, and equity. The growth in drug spending has outpaced the growth of spending for both inpatient and outpatient care over the past three years. By 2023, the median list price for a new drug jumped 35% from the previous year to a price tag of $300K.¹