Which Drugs Hit Taxpayers’ Wallets The Hardest?
CMS releases the list of drugs that contributed to higher Medicare spending in 2015. Meanwhile, payers predict drug prices will continue to rise between 3 and 6 percent over the next three years.
These Drugs For Medicare Patients Cost American Taxpayers The Most
Drugs to treat cancer, high blood pressure, and seizures experienced large price spikes in 2015, costing taxpayers millions of dollars in added Medicare spending, according to new data released by the federal Centers for Medicare and Medicaid Services. The data show which drugs cost taxpayers the most money overall and pinpoint which medications experienced the biggest price increases. For the first time this year, CMS released five years of pricing information on more than 5,000 drugs. (Ross, 12/8)
Survey: Payers Expect Drug Prices To Rise Over The Next Three Years
For those wondering where drug pricing trends are headed, more than two dozen payers believe prices for brand-name medicines will rise between 3 percent and 6 percent over the next three years, according to a survey conducted by Cowen & Co. analysts. This compares with the 4 percent to 6 percent range that was registered in their annual survey taken a year ago. Meanwhile, 26 percent of the payers report that three-quarters of the anticipated increase in spending will be due to higher-priced, newer drugs. In last year’s survey, payers reported that 50 percent of increased spending would be due to newer and high-priced drugs. And generic drug costs are expected to increase 2 percent annually over the next three years, compared with 1 percent that was forecast in the previous annual survey. (Silverman, 12/8)