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Drug Cost Growth

Pharmaceuticals: Medicare And Cost Growth

PROLOGUE: The pharmaceutical industry has long been the most profitable sector of the American economy. This remarkable record notwithstanding, the industry has not been a major focus of attention within Washington for the past several decades, particularly within those congressional committees that authorize the purchase of health care services by the billions for public programs. However, the success that pharmaceutical companies had achieved in flying below the congressional radar screen has begun to change for one overriding reason: Drug expenditures have been rising rapidly—indeed, more than three times the growth of overall health care spending in 1999. This trend, combined . . . [Full Text of this Article]

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