Drug Costs Projected to Rise

April 17, 2014

Projections of increased spending on medications will most likely lead to a resumed focus on controlling drug costs, which, in turn, will offer pharmacists an opportunity to help save money on medications.

A number of recent reports are projecting that prescription drug spending will increase in 2014. For example, a report published in the March 15, 2014, edition of the American Journal of Health-System Pharmacy projects a 3% to 5% increase in total drug expenditures across all settings in the United States, with an increase of 5% to 7% in the ambulatory setting.

This has obvious implications for budgeting, but it probably also means that there will be a resumed focus on controlling drug costs. This, in turn, would seem to offer an opportunity for pharmacists to get involved by helping to save money on medications where appropriate. I wonder whether such an effort will help or hurt our efforts to gain provider status. What do you think?