Aiming to increase the transparency of drug price throughout the healthcare system, the CMS has released the second edition of its drug spending dashboards.
Initially released in May of last year, the dashboards are interactive digital interfaces that contain aggregated information on spending per dosage unit for prescription drugs paid under Medicare Parts B and D and Medicaid. Changes in average spending per dosage unit over time are shown on the dashboards as graphs, with information provided in an extensive table for consumers and researchers. The dashboards manufacturer-level drug spending information as well as consumer-friendly descriptions of the drug uses and clinical indications.
“From 2013-2017, prescription drug spending grew at an average annual rate of 10.6% in Medicare Part D, 10.0% in Part B, and 14.8% in Medicaid – this is one of our fastest areas of growth,” says Seema Verma, CMS Administrator.
Total gross spending on prescription drugs in 2017 was $154.9 billion in Medicare Part D, $30,4 billion in Part B, and $67.6 billion in Medicaid.