Cost of Medicare Prescription Drug Benefit Leaps From $400 Billion to $724 Billion in First Ten Years
Posted on: Thursday, 21 July 2005, 09:01 CDT
WALTHAM, Mass., July 21 /PRNewswire/ -- Decision Resources, Inc., one of the world's leading research and advisory firms focusing on pharmaceutical and health care issues, finds that the cost of Medicare prescription drug benefits has leaped from the original estimate of $400 billion in its first ten years of operation to the $724 billion now projected by the U.S. government. The Bush administration stresses that, because they cover different periods, the two forecasts are not directly comparable. Nevertheless, critics argue that the revised figures demonstrate that the Medicare Prescription Drug, Modernization, and Improvement Act of 2003 (MMA) will be unaffordable for the government.
The new Spectrum report entitled Pharmaceutical Pricing, Reimbursement, and Prescribing News in the First Quarter of 2005, also finds that the pressure to legalize drug importation in the United States may become irresistible in the coming months.
"Two new drug importation bills have recently been introduced in Congress," said Neil Grubert, analyst at Decision Resources, Inc. "A sponsor of one of the bills has predicted that legislation will be passed by a 75-25 margin, a majority that would make it difficult for the Bush administration to maintain its opposition. The pharmaceutical industry's best hope of avoiding massive drug importation in the United States may be that Canada will act to ban this trade, and that other potential parallel export markets will follow suit to protect their pharmaceutical supply systems."
Pharmaceutical Pricing, Reimbursement, and Prescribing News in the First Quarter of 2005 provides a comprehensive overview of the major health care issues in the United States and Europe during the first quarter of 2005.
About Spectrum from Decision Resources
Spectrum is an executive advisory service that identifies and analyzes key business and technology drivers of the pharmaceutical and biotechnology markets. Available only through Decision Resources, Spectrum is a mix of publications and telephone inquiry access to analysts that provides an "over the horizon" perspective on complex health care issues.
About Decision Resources
Decision Resources, Inc., (http://www.decisionresources.com/) is a world leader in market research publications, advisory services, and consulting designed to help clients shape strategy, allocate resources, and master their chosen markets.
All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.
For more information, contact: Elizabeth Marshall Decision Resources, Inc. 781-296-2563 emarshall@dresources.com
Decision Resources, Inc.
CONTACT: Elizabeth Marshall of Decision Resources, Inc., +1-781-296-2563,emarshall@dresources.com
Web site: http://www.decisionresources.com/
Source: PRNewswire
Related Articles
- New Policy Statement from Society for Adolescent Medicine Urges Inclusion of Adolescent and Young Adult Health Issues in All Health Care Reform Legislation
- Spectrum Health Selects MedAssets Alliance Decision Support
- Study 2008 Estimates for the U.S. Drugs and Health and Beauty Aids Market
- Melissa Rivers to Host Prism Awards Capitol Hill Showcase on Depiction of Drug, Alcohol & Tobacco Use, Addiction & Mental Health Issues in Film & TV Shows
- Research and Markets: 267 Alliance Healthcare Members Surveyed About General Health Issues - Including Influenza, Obesity And Statins
- Research and Markets: Analysis of the Major Therapeutic Areas Within the Ophthalmic Pharmaceutical Drugs Industry
- More Interaction Between Health Care Providers and Payers Called for in List of Top Ten Issues Facing Managed Care Executives
- Spectrum Health Benefits From Cerner Solutions; Solutions Help Improve the Quality of Care
- Spectrum Health Provides $88 Million in Community Benefit; $69.6 Million is Spent on Medicaid and Medicare Shortfalls
- Spectrum Health/MMPC Physician Contributes to Weight Loss Book
 |
 |
User Comments (0)
RSS Feeds