DRUG SPENDING INCREASES DRAMATICALLY IN 8 YEARS
Published Online: Sunday, July 1, 2007 [ ]
The latest findings from the Agency for Healthcare Research and Quality's News and Numbers report found that spending for medications prescribed in outpatient settings rose from $72 billion in 1997 to $191 billion in 2004. The analysis also showed:
- During the period 1997-2004, the average annual expenditure for Rx drugs for individuals aged 65 and older increased 130% - rising from $819 in 1997 to $1914 in 2004. The average out-of-pocket cost more than doubled for this group, increasing from $483 in 1997 to $1027 in 2004.
- From 1997 to 2004, total purchases of outpatient Rx medicines increased from approximately 2 billion to nearly 3 billion scripts. This increase in part was due to a rise in the average number of prescription drug purchases per year by individuals aged 65 and older, which jumped from 22 to 31 purchases per year.
- During that same period, younger individuals also bought more prescription drugs on average. Individuals under 65 years who purchased prescription medications had purchased 9 Rxs a year on average. In 2004, this figure rose to 13 prescriptions per year.
Your comments are valuable to us. Thank you.
Sorry, you must be logged in and registered to post a comment.
To login, click To register, click here.