US seniors incur 18.5% of drug costs rises

Older Americans are taking more prescription medicines that ever beforeand incurred an 18.5% annual increase in drug costs over the last three years, according to a study released by RxHealthValue. As a result, they will need proper counseling on medication use under a Medicare drug benefit, it states.

The study notes that underlying factors driving drug expenditure growth remain constant, suggesting continued high growth rates. These factors include an increase in the prevalence of chronic conditions, with corresponding rises in treatment. In addition, newer, more effective treatments typically are more expensive than the therapies they are replacing. The RxHealthValue study also showed that over 12% of US citizens aged 65 or more are taking eight or more different drugs, up from 8% just three years ago. This, it adds, greatly increases the possibility of negative drug interactions for seniors.

Per capita drug spending by seniors reaches $1,378 a year