It may not suit the cognitive mapping of some pols and pundits (or people at ICER), but, in 2017, the net price increase for branded products was lower than the Consumer Price Index. And, according to IQVIA, the overall US drug spend (including generics) increased just 0.6%.
Consider the facts:
* Prescription medicine spending increased 1.3% between 2015 and 2016
* Overall National Health Expenditure (NHE) increased 4.3% during the same period
* Total NHE spend grew to $3.3 trillion in 2016. Approximately 10% of total, $329 billion, was spending on prescription drugs
Here’s the headline you won’t see in the New York Times or the Washington Post,
“Prescription Medicine Spending Growth in the U.S. is Less Than the Rate of Inflation.”
Let’s have inclusive and honest debate. As the Japanese say, “Don’t fix the blame. Fix the problem.”