Prices for top Medicare Part D drugs have more than tripled since entering the market

Prices for top Medicare Part D drugs have more than tripled since entering the market

Collection:
Health Policy and Services Research
Series Title(s):
Spotlight (AARP Public Policy Institute)
Author(s):
Purvis, Leigh, author
Contributor(s):
Public Policy Institute (AARP (Organization)), issuing body.
Publication:
Washington, DC : AARP Public Policy Institute, August 2023
Language(s):
English
Format:
Text
Subject(s):
Drug Costs -- statistics & numerical data
Drug Costs -- trends
Medicare Part D -- economics
United States
Genre(s):
Technical Report
Abstract:
This AARP Public Policy Institute Spotlight finds that list prices for 25 top Medicare Part D drugs have increased by an average of 226 percent--or more than tripled--since they first entered the market. These lifetime price increases greatly exceeded the corresponding rate of general inflation. We also found that, on average, more than half of the current list prices of the top 25 drugs are due to price increases after the products first entered the market. These findings highlight the importance of a new law that will penalize drug companies that increase their prices faster than the rate of inflation.
Copyright:
Reproduced with permission of the copyright holder. Further use of the material is subject to CC BY-NC-ND license. (More information)
Extent:
1 online resource (1 PDF file (5 pages))
Illustrations:
Illustrations
NLM Unique ID:
9918663775906676 (See catalog record)
Permanent Link:
http://resource.nlm.nih.gov/9918663775906676