Prescription drug costs are scary. With the industry trends and issues with generic prices, clients continue seeing their drug spend increase each year. How do you combat this? Read more to see the MaxorPlus solution, as written by Jen Kirsch, Regional Sales Director, MaxorPlus.
Yes, yes they are. Compounds, specialty drugs, and price increases … oh my!
Prescription drugs have been in the news non-stop for the past several weeks. Headlines include:
- From the WSJ on 10/5/15: “For 20 leading global drug companies last year, 80% of growth in net profits stemmed from price increases in the U.S.”
- A 62 year old drug, Darapim, increased their price over 5000% in August of this year.
- Prescription count has increased 12.6% in 2014 alone – the single largest increase in prescription drugs since 2002, according to a National Health Expenditures report.
And while the politicos battle out the pending carrier mergers and astronomical price increases on the Hill, the rest of us are left facing our clients and trying to answer the question.