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Where plans and patients are spending the most money on medications.
Spending for anti-diabetic agents, antivirals and psychotherapeutics were highest for large employer plans, Medicare Part D, and Medicaid, according to a recent analysis of pharmaceutical drug spending by the Kaiser Family Foundation (KFF).
In addition, out-of-pocket drug spending for patients was highest for drugs to treat cancer, multiple sclerosis, and rheumatoid arthritis in large employer plans and Medicare Part D, the analysis says.
The goal of the KFF analysis was to offer policy makers context as they debate legislation and policies to reverse rising drug costs.
Some of the other findings include:
Total spendingâ¨In 2017, total prescription drug spending rose to $333 billion. The top 50 drugs accounted for nearly 40 percent of the drug spending for private insurers, Medicare Part D, and Medicaid.
Related article: Will Drug Price Hikes Impact Drug Spending?
Here is a breakdown of drug spending:
The costs of out-of-pocket spending also varied plan. For example, enrollees in Medicare Part D spent $365 a year on prescription drugs in 2016, while participants in large employer plans spent $132 during the same period.
“The analysis is based primarily on claims data by payer, which does not account for rebates paid by drug manufacturers to pharmacy benefit managers, insurers, and state Medicaid programs,” KFF says. “Rebates differ by payer, and are estimated to be larger for Medicaid than Medicare Part D or private employers.”
To view the data, go to the Peterson-Kaiser Health System Tracker.
Dan Verdon, is vice president, content and strategy, MultiMedia Healthcare, LLC.