Rising Drug Costs-2 (1).pptx - Rising Prescription Cost Healthcare Issue Rising Prescription Cost The cost of many prescription drugs poses a

Rising Drug Costs-2 (1).pptx - Rising Prescription Cost...

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Rising Prescription Cost
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Healthcare Issue: Rising Prescription Cost The cost of many prescription drugs poses a significant obstacle for patients seeking treatment in today’s health care environment. The cost of prescription drug is becoming unaffordable for many people in the U.S. “According to the Organization of Economic Cooperation and Development, Americans spend about $1,200 on prescriptions drugs a year” (Blumber,2019).
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Why Are Prescription Drug Costs Increasing? The lack of competition between pharmaceuticals manufactures. Lack of price transparency and high out-of-pocket costs. Lack of negotiation tools for Medicare on drug prices.
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Growing and Aging Population The growing and aging population is driving the number of enrollment in Medicare Part D to rapidly grow. “Medicare Part D has grown 22 million enrolles in 2006 to about 44 million enrollees in 2018” (Cubanski, Damico, and Neuman,2018).
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Lack of Access to Prescription Drugs High drug prices are significant barriers for patients patient’s access to drugs.
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