The American College of Physicians, the largest medical-specialty organization and second-largest physician group in the United States, has joined the Campaign for Sustainable Rx Pricing (CSRxP), a broad-based coalition working for solutions to skyrocketing prescription medicine prices.
“ACP members work on the front lines of our health care delivery system and have witnessed firsthand the harm caused to patient health and personal finances by unsustainable pharmaceutical drug prices, especially those for new specialty drugs,” says John Rother, President and CEO of the National Coalition on Health Care, which leads CSRxP. “Exorbitant drug prices deny patients access to life-enhancing medicines and result in higher out-of-pocket costs, premiums, and taxes. To prevent our health care system from going bankrupt, we need to establish a drug pricing structure based on value and data-driven evidence and balance between the interests of innovative drug manufacturers and those of society and our health care system.”
“The pricing of specialty drugs increasingly lacks transparency and rationality,” says ACP President David A. Fleming. “We’re seeing the introduction of many patent-protected drugs with monopolistic pricing power that fail to demonstrate a relationship between their price and their value to the health care system. Though many of these medications offer great promise, the price tag for health care clinicians and patients is simply too much to bear. We look forward to working with the Campaign for Sustainable Rx Pricing to address these challenges.”
In 2013 specialty drugs accounted for less than 1 percent of U.S. prescriptions but for more than 25 percent of prescription spending. By the end of the decade, just 2 to 3 percent of all prescribed medications will be specialty drugs, but they will account for roughly 50 percent of the total drug spend, according to CVS Health.
See full press release: https://www.nchc.org/american-college-of-physicians-joins-campaign-for-sustainable-rx-pricing