Specialty, generic drug costs drive Medicaid costs up

1 year 9 months 1 week ago April 11, 2015 Apr 11, 2015 Saturday, April 11 2015 Saturday, April 11, 2015 11:15:11 AM CDT in News
By: The Associated Press

JEFFERSON CITY (AP) - Increasing costs for drugs in Missouri's Medicaid program are likely to continue to increase, driven by pricey specialty drugs and the rising cost of generic medications.

From fiscal year 2010 to 2014, drug costs for Missouri's Medicaid program rose 33 percent to $1.16 billion while the number of claims fell slightly by less than one-tenth of one percent, according to data provided to The Associated Press.

The Missouri House gave initial approval Thursday to a supplemental budget for this year with costs partly driven by the high cost of providing a new Hepatitis C medication.

But the state's top Medicaid official Joe Parks says the unpredictability of future specialty drugs and other costs will continue to make budgeting for pharmacy costs difficult.

 

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