Report: Prescription Drug Price Growth Highest Since 1992

Report: Prescription Drug Price
Growth Highest Since 1992

A new Altarum Health Sector Economic brief out today shows prescription drug price growth is the highest since 1992.

Based on the findings, John Rother, executive director of the Campaign for Sustainable Rx Pricing (CSRxP), issued the following statement:

“Tuesday’s election results are a clear indication that people around the country want change, and one issue that came up again and again on the campaign trail is that Americans are tired of skyrocketing drug prices. Altarum’s report is the latest in a steady drumbeat of evidence showing that drug prices are out of control. We urge the new Administration and the new Congress to immediately address the rising cost of healthcare by delivering solutions that increase transparency, competition and value in the prescription drug market, and we look forward to working together to make drugs more affordable for citizens across the country.”

Key Findings:

• In September 2016, Altarum’s Health Care Price Index (HCPI) rose 2.1% above the September 2015 level. This is the fastest rate since August 2012, mainly due to prescription drugs whose price growth of 7.0% is the highest since 1992.