The average price of brand-name prescription drugs rose almost 130 times faster than inflation in 2015 — 15.5 percent compared with 0.1 percent. New data points to increasing medication affordability problems for older adults, putting many of them at risk, according to a new report.
Researchers from the AARP Public Policy Institute studied trends in the retail prices of 268 brand name drugs widely used by older Americans between 2006 and 2015. Continue reading
Donald J. Trump
The Washington Post has taken a post-election look at 15 major industries in a story aptly titled, “Mr. Business Goes to Washington. NOW WHAT?” The overview was written by Thomas Heath, with health care industry input from Carolyn Johnson.
The Post story divided industries into “winners” (assuming no major recession) and “it’s complicated.” Health care – naturally – fell under “complicated.” Continue reading
Drug prices have become a hot topic – and a significant source of the ongoing challenges to achieving affordable premiums and out-of-pocket costs in both Affordable Care Act exchange plans and employer-sponsored coverage. Drug costs are now the single largest health care concern of Americans across the political spectrum, according to some polls.
But it can be hard to know where to go to find out information about drug pricing and drug value (which aren’t the same thing). Continue reading
Photo: Carla K. JohnsonCraig Garthwaite, assistant professor, Northwestern University’s Kellogg School of Management (left); Roy Guharoy, Pharm.D. vice president and chief pharmacy officer for the Resource Group at Ascension (middle); and independent journalist and AHCJ member Duncan Moore (right) spoke at the Chicago chapter event “Drug Pricing: Covering the Controversy” at Columbia College in Chicago on Feb. 23.
A blockbuster hepatitis C drug costs $84,000, straining state budgets. Martin Shkreli acquires the rights to a generic and raises its price 5,000 percent. Presidential candidates react to the public outcry, claiming they know what to do about the drug prices.
What does it all mean? Until recently, “there’s been an equilibrium in the public mind between a free market regimen of the market setting prices and what the public and payers are willing to pay,” said independent journalist Duncan Moore, “but there are indications this informal tradeoff has begun to swing out of control.” Continue reading
In an effort to help consumers get a better handle on drug prices, five U.S. senators — all Democrats — are pressuring the Centers for Medicare & Medicaid Services to be more forthcoming about efforts to contain costs and help seniors cope with the high costs of prescription drugs.
Sen. Mark R. Warner (D-Va.), Sen. Bill Nelson (D-Fla.), Sen. Jeanne Shaheen (D-N.H.), Sen. Heidi Heitkamp (D-N.D.), and Sen. Tim Kaine (D-Va.) cosigned a letter on Dec. 17 to CMS Acting Administrator Andrew Slavitt, seeking more information on the agency’s efforts to maximize the agency’s existing authorities on prescription drug costs. Continue reading