The cost of retail drugs fell slightly in 2018 for the first time since 1973, according to The Washington Post.
An analysis conducted by CMS' Office of the Actuary and published Dec. 5 by Health Affairs shows that retail drug costs fell by about 1 percent in 2018. It was the first time retail drug costs had gone down in 45 years.
The report attributed the price dip to more consumers buying less expensive generic drugs instead of name brands.
Dan Mendelson, founder of Washington, D.C.-based consulting firm Avalere Health, told the Post that the study shows people are being more cautious about the drugs they purchase and are avoiding high-cost, brand names.
But while retail drug costs went down, total spending on prescription drugs rose 2.5 percent in 2018 to $335 billion.
Read the full article here.
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