A new report released by the Center for Improving Value in Health Care (CIVHC) shows that prescription drug spending continues to grow rapidly in Colorado and so do drug rebates for brand and specialty drugs. Increases in both spending and the percent rebates of total spending is leading to calls for more transparency around the impact drug rebates are having on rising health care costs.
Prescription drug costs represent the fastest rising health care expense in the United States. That is no different in Colorado, where prescription drugs represent approximately 19% of total health care spending according to data in the Colorado All Payer Claims Database (CO APCD). Prescription drug rebates refer to compensations provided by manufacturers to health insurance payers to help reduce the cost of the certain drugs.