http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130225:nBw256006a Industry reporting on specialty pharmaceuticals has historically left out medications covered and paid for under the medical benefit. This is the only detailed drug trend report available for those medicines administered by providers and billed under the medical benefit. Specialty drug costs increased 16 percent for the top 25 therapies. AVON, Conn.--(Business Wire)-- Today, Magellan Pharmacy Solutions, a division of Magellan Health Services (NASDAQ: MGLN) released its third annual Medical Pharmacy Trend Report. The report is the only industry benchmark of its kind to analyze medical drug data, explaining the trends surrounding specialty medications such as those used to treat complex chronic conditions like cancer, rheumatoid arthritis and multiple sclerosis. "No other source exists that directly measures the trends for injectables that are paid under a payor`s medical benefit, where top drugs, such as Neulasta, Remicade, Avastin, Rituxan, and Tysabri are almost entirely paid," said Michael Waterbury, President of ICORE Healthcare (a subsidiary of Magellan Pharmacy Solutions). As much as 50 percent of specialty pharmaceuticals are managed and paid for under the medical plan benefit today, a significant increase compared to previous years. This is driven by several factors, most notably the ability of manufacturers to maintain patent protection for the top 25 specialty drugs. Increases in price and utilization are also key drivers of increased trend. The year-over-year cost increase for specialty drugs was 16 percent for the top 25 therapies.
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