Projecting future drug expenditures - 2004

James M. Hoffman, Nilay D Shah, Lee C. Vermeulen, Robert J. Hunkler, Karrie M. Hontz

Research output: Contribution to journalArticle

30 Citations (Scopus)

Abstract

Purpose. Drug expenditure trends since 2002 and projected drug expenditures for 2004 are discussed. Summary. In 2002 there was a moderation in the trend of increasing drug expenditures. Drug expenditures increased by 12.3% between 2001 and 2002. This trend continued in the first half of 2003, with expenditures increasing by only 10% compared with 2002. This moderation in the drug expenditures trend can be attributed to many factors, especially patent expirations and decreases in new drug approvals. Higher cost sharing for consumers and a general economic slowdown in the United States affecting employment and insurance coverage have resulted in a smaller increase in drug utilization. In 2004, there should be a 10-12% increase in drug expenditures for outpatient settings, a 19-21% increase for clinics, and a 6-8% increase for hospitals. Conclusion. Drug expenditure growth should continue to outpace the growth in overall health care expenditures and the growth in the U.S. economy.

Original languageEnglish (US)
Pages (from-to)145-158
Number of pages14
JournalAmerican Journal of Health-System Pharmacy
Volume61
Issue number2
StatePublished - Jan 15 2004
Externally publishedYes

Fingerprint

Health Expenditures
Pharmaceutical Preparations
Growth
Cost Sharing
Drug Utilization
Drug Approval
Insurance Coverage
Outpatients
Economics
Delivery of Health Care

Keywords

  • Costs
  • Drug use
  • Economics
  • Hospitals
  • Patents

ASJC Scopus subject areas

  • Pharmaceutical Science
  • Leadership and Management

Cite this

Hoffman, J. M., Shah, N. D., Vermeulen, L. C., Hunkler, R. J., & Hontz, K. M. (2004). Projecting future drug expenditures - 2004. American Journal of Health-System Pharmacy, 61(2), 145-158.

Projecting future drug expenditures - 2004. / Hoffman, James M.; Shah, Nilay D; Vermeulen, Lee C.; Hunkler, Robert J.; Hontz, Karrie M.

In: American Journal of Health-System Pharmacy, Vol. 61, No. 2, 15.01.2004, p. 145-158.

Research output: Contribution to journalArticle

Hoffman, JM, Shah, ND, Vermeulen, LC, Hunkler, RJ & Hontz, KM 2004, 'Projecting future drug expenditures - 2004', American Journal of Health-System Pharmacy, vol. 61, no. 2, pp. 145-158.
Hoffman JM, Shah ND, Vermeulen LC, Hunkler RJ, Hontz KM. Projecting future drug expenditures - 2004. American Journal of Health-System Pharmacy. 2004 Jan 15;61(2):145-158.
Hoffman, James M. ; Shah, Nilay D ; Vermeulen, Lee C. ; Hunkler, Robert J. ; Hontz, Karrie M. / Projecting future drug expenditures - 2004. In: American Journal of Health-System Pharmacy. 2004 ; Vol. 61, No. 2. pp. 145-158.
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