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AARP research says brand-name drug prices far outpace inflation
AARP?s Public Policy Institute finds that average manufacturer price increases for brand-name and specialty prescription drugs widely used by Medicare beneficiaries continued to outstrip the price increases for other consumer goods and services.
AARP’s Public Policy Institute has found that average manufacturer price increases for brand-name and specialty prescription drugs widely used by Medicare beneficiaries continued to outstrip the price increases for other consumer goods and services in the 12 months ending with the third quarter of 2009.
The price of 219 brand-name prescriptions most widely used by Medicare beneficiaries increased by 9.3% in the period, according to the AARP. That was higher than the rate of increase observed during any of the prior seven years of the study, which ranged from 5.3% to 8.7%. In contrast, the rate of general inflation rate was -0.3% over the same period.
The AARP Public Policy Institute’s research indicates the average annual cost for one brand-name medication was about $2,045 in the 12 months ending with the third quarter of 2009.
The report also indicates 96% (210 of 219) of the brand-name drugs studied experienced a price increase. Nine (4%) of the 219 brand-name drug products had no change in price during the same period.
The price of the 187 generic prescriptions most widely used by Medicare beneficiaries decreased by an average of 8.7% in the 12 months ending with September 2009, according to the report.
Jack Linehan of Epstein Becker Green Discusses Drug Coupons, Accumulators
July 9th 2020In this week's episode of Tuning Into The C-Suite podcast, Senior Editor Peter Wehrwein has a conversation with John "Jack" Linehan, a lawyer for Epstein Becker Green, about coupons and accumulators. Jack is an expert on drug distribution and reimbursement, and few people know as much about coupons and accumulators as he does. Peter and Jack go over some of the basics, who is advantaged and disadvantaged, and then dive into some the details on CMS regulations and how recent proposed changes to Medicaid best price rules would, if finalized, affect coupons and accumulators.
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In this second part of a video series, AMCP CEO Susan Cantrell addressed the impact of high prescription drug prices on underserved communities, highlighting disparities in access caused by the pandemic's effects on minority populations. On the industry blame debate, she urged collaborative solutions, mentioning AMCP's engagement with diverse stakeholders to find comprehensive, patient-centric solutions and advocate for policy changes like the MVP Act to address rising costs and access challenges.
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HHS Needs More Rebate Information To Negotiate Medicare Drug Prices, Say USC Experts
February 19th 2024The Health and Human Services department could wind up overpaying (or possibly underpaying) for the drugs for which it is negotiating a “maximum fair price” for Medicare under the Inflation Reduction Act, argue experts at the USC Schaeffer Center for Health Policy and Economics. A fuller picture of rebates and net prices could help that from happening, they say.
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