Express Scripts released the Super Spending: U.S. Trends in High-Cost Medication Use report. Here are seven key points to know from the report.
1. In 2014, there were approximately 576,000 Americans who had more than $50,000 in medication costs in the space of the year, up 63 percent from the number of Americans with medication costs greater than $50,000 in 2013.
2. The number of patients who have more than $100,000 in annual medical costs grew from 47,000 in 2013 to 139,000 in 2014.
3. Of the people with more than $50,000 in annual costs, more than one-third were being treated for 10 or more different medical conditions.
4. Of the people with more than $50,000 in annual costs, 60 percent took 10 or more different medications.
5. Compounded therapies, hepatitis C drugs and cancer medications accounted for approximately two-thirds of drug spending for patients with $100,000 of more in annual drug costs.
6. Baby boomers accounted for the greatest percentage of patients with drug costs exceeding $100,000 per year. Of those baby boomers in the high cost category, 50 percent were undergoing cancer treatment, 77 percent were undergoing hepatitis C treatment and 46 were using compounded therapies.
7. In 2014, insurance plans covered more than 98 percent of the drug costs for patients with drug expenses more than $100,000.