Medicare Releases New Prescription Drug Cost Data
On August 18, 2016, the Centers for Medicare & Medicare Services (CMS) released privacy-protected data on the prescription drugs that were paid for under the Medicare Part D Prescription Drug Program in 2014. The new information confirms an alarming trend for prescription medications.
CMS said this public data release is part of the Obama Administration’s broader strategy to improve the health care system by paying practitioners for what works, unlocking health care data, and finding new ways to coordinate and integrate care to improve quality.
“With this data release, patients, researchers and providers can access valuable information about the Medicare prescription drug program,” said Niall Brennan, CMS Chief Data Officer. “Today’s release joins a series of actions the Administration is taking to improve transparency around government data, including the cost of prescription drugs”, he said.
Over one million health care providers prescribed approximately $121 billion in prescription drugs in 2014, an increase of 17 percent over 2013.
For more information about the study including a list of the most costly medications, please click here >>