A new study by Pew Charitable Trusts found that prescription drug spending saw an almost $90 billion increase between 2012-16, surging to $341 billion in 2016 from $250.7 billion in 2012.
The study found patients are paying more for prescription drugs, PBMs have passed on more pharma rebates to health plans and pharmacy revenue has more than doubled, according to a Modern Healthcare report.
According to the study, rebates have helped ease the burden of rising list prices of prescription drugs.
“We also see the share of spending retained by PBMs is pretty similar to what plans and wholesalers retain, which don’t typically get much attention,” Pew Senior Director of Health Programs Allan Coukell said. “It’s also interesting to note that pharmacies retain the second largest share behind manufacturers at 23 percent of total spending.”