Fierce Healthcare September 30, 2022
New reports from the Department of Health and Human Services detailed drug price trends from 2016 through 2021 as new rules to lower prices start to take effect. (Stock photo/Getty Images)
A new report finds that 1,216 pharmaceuticals increased their prices past the inflation rate of 8.5% from July 2021 to July 2022, with an average hike of 31.6%.
The report and a second report on price trends released Friday by the Department of Health and Human Services (HHS) underline how a new provision in the Inflation Reduction Act—an inflationary cap on Part D costs—will affect prices right as the cap is implemented Oct. 1.
“In recent years, prescription drug prices have skyrocketed, but thanks to the Inflation Reduction...
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