In a recent article for Pharmacy Times, Wendy Barnes, Chief Executive Officer, discusses the significant impact of drugflation — the rising cost of pharmacy benefits — on U.S. employers and the broader economy. Spending on health care is projected to rise by an estimated 7.1% annually from 2022 to 2027, with prescription costs increasing even faster. In 2023 alone, medication spending increased by 9.9%. Unlike general inflation, drugflation can’t be managed by monetary policy tools.
Barnes identified the five key factors driving drugflation and offered innovative solutions to help tame it.
Key Highlights:
- The causes behind rising drug prices
- How drugflation impacts employers and employees
- Effective strategies for managing and reducing these costs
- The role of RxBenefits as a Pharmacy Benefit Optimizer to help employers achieve the lowest net cost
