Our clients often approach us with the questions regarding their medical expenses. Unfortunately, in addition to their high premiums they are hit with astronomical bills for medicine costs. Research has proven that medicine costs have actually slowed in growth in 2016. In that case, why are patients accruing higher and higher expenses for meds?
A deeper look into the topic points toward chronic diseases including obesity, diabetes, cardiovascular disease and cholesterol as a source for hiking up the prices of healthcare by as high as ninety percent! Medication for the mentioned diseases and some have risen given that most are brand names such as Insulin and Lipitor.
Companies such as PhRMA are working on creating meds that are equally effective to their counterpart brand name drug in order to lower costs for patients. In the long run, affordable medication will decrease health spending by proactively avoiding emergency room visits and inpatient hospitalization.