Study: Drug prices continue to increase

Drug makers have increased list prices for at least 104 different drugs, dosages or package sizes, with the average price increase 13.1 percent, according to an analysis of select drugs by Rx Savings Solutions, reports the American Hospital Association.

Rx Savings Solutions sells software to help employers and health plans choose the least-expensive medicines. For example, B Braun Medical roughly doubled the price for an injectable electrolyte solution and increased the price for an injectable antibiotic (cefazolin) by 50 percent, the analysis shows. Since January, list prices have increased for 3,443 different drugs, dosages or package sizes analyzed by the company, with the average increase 10.5 percent.

According to a study earlier this year from the Kaiser Family Foundation, as many as four of 5 Americans believe prescription drugs are overpriced with nearly one-third of patients admitting that they have had to skip prescription medicine because they could not afford to buy it. Other findings from the study:

·  80 percent of Americans feel that profits made by Rx companies is a “major” contributing price of prescription drugs.

·  69 percent think the cost of research and development influences costs.

·  63 percent point to profits made by pharmacy benefit managers.

·  52 percent say marketing and advertising expenses lead to higher costs for prescription drugs.

Editor’s note: Get an exclusive recap of a recent congressional hearing from Vizient, a participant at the meeting.