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Shifts in care due to COVID-19 pandemic likely to drive drug expenditures in 2021

Shifts in care due to COVID-19 pandemic likely to drive drug expenditures in 2021
The COVID-19 pandemic heavily influenced spending on prescription drugs in the U.S. in 2020, according to the ASHP's (American Society of Health-System Pharmacists) National Trends in Prescription Drug Expenditures and Projections for 2021. Shifts in care related to the pandemic will continue to be a significant driver of drug expenditures in 2021, along with uptake in the use of biosimilars, a large pipeline of new cancer drugs, and increased approvals of specialty medications.
Prescription drug spending in 2020 grew at a moderate rate of 4.9% to $535.3 billion. Increased utilization drove the growth, which accounted for 2.9% of the total increase. Spending on new drugs accounted for 1.8% of the increase, and price changes accounted for 0.3%.

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Covid to drive US prescription drug spending in 2021: Study

Covid to drive US prescription drug spending in 2021: Study
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New report finds COVID-19 pandemic causes dramatic shifts in prescription drug spending

The COVID-19 pandemic heavily influenced spending on prescription drugs in the U.S. in 2020, according to the ASHP's (American Society of Health-System Pharmacists) National Trends in Prescription Drug Expenditures and Projections for 2021. Shifts in care related to the pandemic will continue to be a significant driver of drug expenditures in 2021, along with uptake in the use of biosimilars, a large pipeline of new cancer drugs, and increased approvals of specialty medications.

Minnesota , United-states , American , Eric-tichy , Danielj-cobaugh , American-society-of-health , System-pharmacists-national-trends-in-prescription-drug , Drug-administration , American-society , Health-system-pharmacists , National-trends , Prescription-drug-expenditures