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Flood of Generic Drugs Cited as Causative
[By Staff Reporters]
It is no surprise that payments for everything from doctor visits and hospital construction, to home-health care increased 6.1 % to $2.24 trillion, this decade. But, overall healthcare spending in the US grew the least since 1998, driven by the biggest drop in retail drug purchases in several decades. Think $4 Rxs, and free drugs from Giant Food stores.
Health Affairs Report
According to government reporting in the journal Health Affairs [HA], cheaper copies of heart and blood-pressure drugs such as Merck & Co.’s Zocor, Pfizer Inc.’s Norvasc and Bristol-Myers Squibb Co.’s Pravachol became available in 2006 and 2007.
Assessment
Generic drugs accounted for 67 percent of retail prescription sales in 2007, up from 63 percent the preceding year. As the number of top-selling brands facing generic competition tails off, drug spending may rebound according to Washington health-policy analyst, Paul B. Ginsburg.
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Filed under: Drugs and Pharma, Health Economics |
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Patients Account for Disproportionate Share of Health Care Spending
According to a new study by UHC:
• The sickest 10% of Americans spent an average of $26,851 in health care costs per person.
• The healthiest 50% spent less than $250 per person.
• 42% of all health care spending among the commercially insured population arose from unpredictable and largely unavoidable single events such as appendectomies or injuries.
• Another 31% of total spending was incurred by the small subset of the population that suffers from advanced chronic and complex illnesses such as congestive heart failure or cancer.
Source: United Healthcare (UHC)
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