Wednesday February 28, 2018
Medicaid Drug Spending Grew 5.5% in 2016
Medicaid drug spending growth slowed to 5.5% in 2016 after 25% and 13% growth in 2014 and 2015, according to a recent Kaiser Family Foundation brief. Medicaid spending on outpatient prescriptions reached $33.4 billion in 2016. The brief notes that while "drug spending constitutes only 6% of Medicaid total spending, the high cost of specialty drugs continues to be a concern among Medicaid policy directors looking to control future spending." Some strategies being used by states to control drug spending include drug growth caps, closed formularies, promoting generic drugs, and increasing price transparency.
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