Health Payer Intelligence October 9, 2020
Payers can implement drug price transparency tools, revamp their formularies, and emphasize preventive care to reduce prescription drug spending.
High prescription drug spending has racked the American healthcare system’s cost trends for decades.
Prescription drug spending will be one of the major factors influencing the 2020 medical trend, PricewaterhouseCoopers (PwC) predicted back in 2019.
The PwC report noted that benefit cost growth has surged based on two factors: medical service prices and prescription drug prices. The researchers anticipated that retail drug spending growth would continue to rise starting in 2020, rising by 3.2 percent in 2020 and hitting a high of 5.8 percent growth in 2023.
Policymakers fail to agree on the best way forward. Debating over Medicare drug pricing,...
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