Who We Are

The New Jersey Life Sciences Vendors Alliance (NJLSVA) is a coalition of businesses, individuals and academia who provide goods and services to New Jersey’s life sciences companies.

The NJLSVA was founded to educate suppliers on trends in industry procurement and public policy that affects the life sciences industry.

Healthcare Spending

2014 National Health Expenditures Grew 5.3 Percent, Rx Spending Up 12.2 Percent

Money dollar sign healthWashington, NJ, December 3, 2015 ― In 2014, per-capita health care spending grew by 4.5 percent and overall health spending grew by 5.3 percent, a study by the Office of the Actuary at the Centers for Medicare & Medicaid Services (CMS) published Wednesday as a Web First by Health Affairs.

Those rates are below most years prior to passage of the Affordable Care Act. In addition, consumer out-of-pocket spending grew by only 1.3 percent in 2014, as compared to 2.4 percent growth in 2013, reflecting the increased number of individuals with health coverage.

The report concludes that the increase in spending growth from 2013 was primarily driven by millions of new people with health insurance coverage a result of the Affordable Care Act and by rapidly rising prescription drug costs. Continue reading

U.S. Government Releases Healthcare Spending Forecast for 2014 – 2024

Windsor Mill, MD, July 29, 2015 ― According to a report published in Health Affairs authored by the Centers for Medicare & Medicaid Services’ (CMS) Office of the Actuary (OACT), health spending growth in the United States is projected to average 5.8 percent for 2014–24.

This growth reflects the Affordable Care Act’s coverage expansions, faster economic growth, and population aging.  Recent historically low growth rates in the use of medical goods and services, as well as medical prices, are expected to gradually increase. Continue reading

Health Care Spending Again on Rise; Up 5% in 2014 vs. 3.6% in 2013

Washington, DC, February 19, 2015 ― Bloomberg News reports that the national medical bill may be back to growing faster than GDP.  After five years of historically slow growth, new data show U.S. health care spending accelerated significantly in 2014.

The analysis, from the Altarum Institute research group and based on preliminary government data, shows health spending increasing by 5 percent last year, compared to 3.6 percent in 2013.   Continue reading