BRENTWOOD, Tenn., Jan. 16, 2013 (GLOBE NEWSWIRE) -- Artemetrx, a healthcare analytics and solutions company, announced the release of its 2013 Specialty Drug Trend Study. The study reported that specialty drug spend will surpass traditional drug spend by 2018 for commercial plan sponsors.
The analysis found that specialty drugs already represent 30% of total drug spend after the specialty claims covered under the medical benefit are fully captured. This percentage is significantly higher than the 15-20% that is frequently reported for specialty as a percent of total drug spend. "Given these findings, plan sponsors need visibility into their entire specialty drug spend, not just that residing under the pharmacy benefit," says Brenda Motheral, PhD, President of Artemetrx. "When specialty medication use goes unmeasured, plans cannot effectively manage their specialty benefit."
The researchers forecasted that total specialty drug spend will grow from $290 per member, per year (PMPY), to $845 PMPY by 2018 due to the strong specialty pipeline, price inflation, and expanded indications. "Specialty spend is going to overtake traditional drug spend quicker than most plan sponsors realize due to the siloed reporting of specialty drugs that currently exists in the marketplace," says Dr. Motheral. "Opportunities to better manage specialty drugs abound, but they are often unique from those used for non-specialty drugs."
The Artemetrx Specialty Drug Trend Study is intended to represent national trends for commercial plan sponsors in the United States. Projections are based on review of national spend reports and consideration of market trends related to new drug approvals, expanded indications, inflation, and consumer demand.
Artemetrx is a healthcare analytics and services company that offers a suite of analytic solutions and clinical intervention programs that leverage the integrated pharmacy and medical data to improve care and control costs. These programs range from programs focused on specialty drug management to population health programs.
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