CMS Releases Data on Medicare Drug Spending - McDermott+Consulting

CMS Releases Data on Medicare Drug Spending

On December 21, 2015 the Centers for Medicare and Medicaid Services (CMS) released an online dashboard to provide information on Medicare spending on prescription drugs, for both Part B and Part D. Identifying 80 drugs, 40 from Part B and 40 from Part D, that met specific cost and utilization criteria, CMS posted relevant spending, utilization, and trend data. The dashboard also includes consumer-friendly information on the drug product descriptions, manufacturer(s), and uses.

 

CMS released this information as part of its effort to provide additional information, increase transparency, and address the affordability of prescription drug. Spending on prescription drugs in the U.S. grew by 12 percent in 2014, faster than in any year since 2002. CMS is one of the largest purchasers of prescription drugs in the US.

More information on the drug spending dashboard and highlights from the posted data is available here.