A recent annual report from the Medicare Board of Trustees shows trends in spending on prescription drugs, including the high costs of hepatitis C treatment.
Federal officials have worried about the rising cost of specialty drugs for a long time. Now, a recent annual report from the Medicare Board of Trustees, which plots trends in spending on prescription drugs, validates these concerns, according to The Fiscal Times.
In particular, new, expensive treatments for hepatitis C are accounting for an increasingly large portion of Medicare expenditures on prescription drugs.
According to the Medicare report, the federal agency spent $97 billion on seniors in 2014, or 16 percent of total Medicare spending that year, The Fiscal Times reported. Spending on treatments for hepatitis C doubled in five months from $421 million in November 2014 — just after the first of the new drugs entered the market — to $864 million in March 2015. By the middle of 2015, spending on the medications plateaued at $793 million.
However, officials are preparing for another uptick in spending as more patients seek prescriptions for the drugs.
Read Full Article: Medicare doubled spending on hepatitis C drugs in 5 months
|Read Full Article: Medicare doubled spending on hepatitis C drugs in 5 months|