Report: Prescription Drug Spending Tops Year-Over-Year Price Growth for Major Health Categories A new report from the Altarum Institute found that from August 2014 to August 2015, spending for prescription drugs grew significantly faster than for any other health category, continuing its unsustainable pace. In response to the release of this data, John Rother, president […]
Exorbitant price tags associated with breakthrough treatments illustrate the broader challenges ahead for the U.S. health care system if excessive drug pricing is not addressed head on.
As the 2016 presidential race heats up, prominent candidates are beginning to unveil comprehensive plans to address soaring prescription drug costs and the harmful impact their price tags have on Americans.
“This latest health care price growth report indicates that spending on pricey prescription medications shows no sign of slowing down. When compared to other health care services, it is clear that high cost treatments continue to top the charts as a serious threat to the sustainability of our health care system and beyond.”
The pharmaceutical industry have, in recent years, focused on development of so-called specialty drugs and have priced them aggressively. These prices, such as the US$1,000 per pill price for the hepatitis C drug sofosbuvir, are alarming for patients, employers, insurers, and governments.
“The approval of Repatha is another example of a breakthrough medication with a too high price tag. With several game-changing medications in the pipeline, we need to address the underlying issue of how these prices are set from the start before they hit the market.”
Our effort—the Campaign for Sustainable Rx Prices—has been sounding the alarm for more than a year that pharmaceutical companies must come to the table with meaningful solutions to the challenge of rising drug costs. Otherwise, companies risk the rising tide of consumer anger resulting in solutions that are not constructive for anyone.
PRESS STATEMENT For Immediate Release August 20, 2015 Contact: John Rother [email protected] New KFF Poll: Unsustainable drug pricing moves ahead of ACA as GOP voters’ top health care concern A new poll released today by the Kaiser Family Foundation finds overwhelming bipartisan majorities of voters are concerned about the challenges to affordability for consumers posed […]
This is an important time to think about the future of programs and policies that support us as we age. Medicare marks its 50th Anniversary at the end of July. I’ve been around to witness much of the creation and evolution of health policy. After a 40-year career in Aging and Health Policy, first in the Senate, then at AARP, and now as head of the National Coalition on Health Care, I have a few observations about where things stand.
“These numbers paint a troubling picture for the future of the American economy. The dramatic rise in prescription drug spending proves that it is more important than ever to advance a solution to monopolistic drug pricing. We cannot afford to continue on this unsustainable path.”