Thursday, November 19, 2020

More than 1.1 million deaths among Medicare recipients due to high cost of drugs

https://www.eurekalert.org/pub_releases/2020-11/whi-mt1111820.php

 

News Release 19-Nov-2020
Beneficiaries skipping medications is causing early death and worsening medical conditions that will cost Medicare an extra $177.4 billion over the next 10 years
West Health Institute

 

More than 1.1 million Medicare patients could die over the next decade because they cannot afford to pay for their prescription medications, according to a new study released today by the West Health Policy Center, a nonprofit and nonpartisan policy research group and Xcenda, the research arm of the drug distributor AmerisourceBergen.

If current drug pricing trends continue, researchers estimate cost-related non-adherence to drug therapy will result in the premature deaths of 112,000 beneficiaries a year, making it a leading cause of death in the U.S., ahead of diabetes, influenza, pneumonia, and kidney disease. Millions more will suffer worsening health conditions and run up medical expenses that will cost Medicare an additional $177.4 billion by 2030 or $18 billion a year for the next 10 years.

Researchers also modeled what would happen if Medicare was allowed to bring down drug prices for its beneficiaries through direct negotiation with drug companies, as described in H.R. 3, the Elijah E. Cummings Lower Drug Costs Now Act, passed by the U.S. House of Representatives last year. They found Medicare negotiation could result in 94,000 fewer deaths annually. Additionally, the model found that the policy would reduce Medicare spending by $475.9 billion by 2030.

"One of the biggest contributors to poor health, hospital admissions, higher healthcare costs and preventable death is patients failing to take their medications as prescribed," said Timothy Lash, President, West Health Policy Center. "Cost-related nonadherence is a significant and growing issue that is direct result of runaway drug prices and a failure to implement policies and regulations that make drugs more affordable."

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