Monday, July 21, 2014

Monday, July 21, 2014 - 12:30 Reality Check: US Consumer Drug Costs Climb Ever Higher

Monday, July 21, 2014 - 12:30

Reality Check: US Consumer Drug Costs Climb Ever Higher


--Specialty Drug Costs Biggest Driver of Drug Price Inflation --Traditional Brand-Name and Generic Drug Prices Also Rising --Consumers Face Higher Deductibles, Co-Payments and Co-Insurance Percentages
NEW YORK (MNI) - Astronomical prices of specialty drugs that treat hepatitis C, rheumatoid arthritis, cancer and other diseases are leading overall U.S. consumer prescription drug costs higher, according to pharmacists, pharmacy benefit managers and industry experts.
Druggists and industry experts told MNI that traditional brand-name and generic drugs prices are also firming. Right alongside that, healthcare cost-sharing for prescription drugs continues to shift toward employees and others insured, by way of deductibles, co-payments, drug coverage exclusions and percentage coverage, also known as co-insurance. The moderating impact on costs in recent years from a wave of blockbuster brand-name drugs going generic, from Lipitor
to Lexapro, has faded, they said.
A pharmacy benefit management company forecasted accelerating prescription-drug cost increases in 2014 for both consumers and insurers.
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