Pharmacy Cost Trends Expected to Continue in the Double Digits

Pharmacy cost trends are expected to increase 10% up from 6.3% the year before, with specialty pharmacy trends experiencing the largest increases, according to a survey from Aon Health. The estimated specialty pharmacy drugs cost trends only are 22.7% in 2015, up from an 18.2% increase in 2014.

Upcoming specialty drugs are contributing to the dramatic spike in the cost trends, according to John Malley, leader of Aon Health’s Innovation Pharmacy Team. Specifically, he noted oncology drugs will be the largest category of specialty drug approvals in the near future and cholesterol drugs may also have a significant impact.

“Carriers continue to see price inflation as the single largest driver of increased medical costs, but an aging population, unhealthy lifestyle choices and provider consolidation are also contributing to the trend increase," Tim Nimmer, global chief actuary for Aon Health, said in a statement.