Centers for Medicare & Medicaid Services released 5 years of pricing data for a list of more than 5,000 drugs this week. The data illustrate that a handful of cost-driving drugs experienced price hikes in 2015, which cost taxpayers millions in added Medicare spending.
The price of some drugs went up almost 500%, with name-brand drugs experiencing the largest price spikes. According to the data, medications used to treat conditions such as hepatitis C, diabetes and high blood pressure cost taxpayers more than $14 billion last year. In response to the agency releasing the data, CMS Acting Administrator Andy Slavvit tweeted, “When taxpayers pay, prices should be public.”
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