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State analysis: prescription drug spending rose as fills fell, CHIA tells GIC
Summary
CHIA told the Group Insurance Commission that between 2018 and 2022 prescription fills fell about 25% while average cost per prescription rose about 54%; CHIA identified pharmacy spending as the largest service category in 2022 and said rebates partially offset gross costs but do not eliminate the trend.
The Group Insurance Commission heard on Thursday from the Center for Health Information and Analysis (CHIA) that pharmacy spending is now the largest component of state health care expenditures and a primary driver of recent cost growth.
Lauren Peters, CHIA executive director, told commissioners the state’s total health care expenditures rose to $71.7 billion in 2022 and that pharmacy spending reached about $13.6 billion, making pharmacy the largest service category that year. Peters said payer-reported pharmacy rebates lowered gross pharmacy spending by an estimated $3.5 billion in 2022 but that, “regardless of how you count it…pharmacy spending is and remains the largest cost driver in our system.”
Molly Bailey, an associate manager on CHIA’s health informatics and reporting team, reviewed the technical…
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