Drug Costs Up 10 Percent In 2015 (Again)

Published February 11th, 2016 by USA Rx
Fact Checked by
Chris Riley

For the third year in a row now, pharmacy companies have successfully tacked on another 10 percent to the average price of prescription medications, and it isn’t all because of the major outliers like the hepatitis C cure, the breast cancer treatment, or Martin Shkreli’s personal touch of boosting a lifesaving cancer and AIDS medication’s price by 5000 percent.

Truveris, an authority on pharmaceutical drug prices, came up with its 10 percent figure by analyzing the overall payments made by individuals, businesses, insurance companies, and the government to drug companies, which means it’s based on the cost of the most popular drugs more than anything. As such, it found that prices are going up for every category of drug, and they’re going up fast.

Still, this rate of increase may change in the near future. Several states are considering price caps on prescription drugs to prohibit what many see as excessive price gouging. And Shkreli’s stunt may have had a positive impact: he’s provided a human touch to what’s otherwise been a very institutional problem, and his use of the pharmaceutical companies’ favorite excuse, that the extra money is needed to research new lifesaving drugs, was so blatant that it was practically a parody.

Another factor is the upcoming presidential election. The high cost of health care is a problem that both parties would like to solve, and although prescription medication may not be a large percentage of America’s overall health care costs, it’s an easy problem to point to when drugs are making more headlines for their price tags than for their lifesaving capabilities. As such, it seems unlikely that pharmaceutical companies will want to make Shkreli-sized waves in the coming year.

Still, while drug prices may not go up by quite as much in the near future, they’ll still be going up, and that’s why it helps to have a pharmacy discount card. A USA Rx pharmacy discount card isn’t health insurance, and it isn’t supplemental health insurance, but it can still help you by lowering the price you pay on brand name and generic prescription medication by up to 75 percent. Depending on your plan, what you pay through our discount may be less than your insurance copay. For more information, give us a call at 888-277-3911 or send us an email at [email protected]

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