Pharma News Intelligence February 19, 2020
HCCI’s latest report shows that average prescription drug prices increased by 21% from 2014 to 2018 while utilization increased just 4% over the five-year period.
Prescription drug prices continue to increase due to continued growth in medical service costs and a modest uptick in utilization, according to a recent report from the Health Care Cost Institute (HCCI).
HCCI’s 2018 Health Care Cost and Utilization Report analyzed 2.5 billion medical claims for patients up to 65 who are covered by employer-sponsored health plans. The report uncovered that the largest increase in average price occurred from administered drugs, which nearly doubled from $470 in 2014 to $813 in 2018.
“Prices, spending, and out-of-pocket costs continue to rise for the 160 million Americans...
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