Download or read book Medicare Part D s Effects on Elderly Drug Costs and Utilization written by Jonathan D. Ketcham and published by . This book was released on 2008 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze Medicare Part D's net effect on elderly out-of-pocket (OOP) costs and use of prescription drugs using a dataset containing 1.4 billion prescription records from Wolters Kluwer Health (WKH). These data span the period December 2004-December 2007 and include pharmacy customers whose age as of 2007 is greater than 57 years. The outcomes we examine are OOP cost per day's supply of a medication, the days of medication supplied per capita, and the number of individuals filling prescriptions. We compare outcomes before vs. after January 2006, for those over age 66 years vs. for those age 58-64 years, adjusting for the under-reporting of certain cash-only transactions in the WKH data. Our results indicate that from 2005-2007, Part D reduced elderly OOP costs per day's supply of medication by 21.7%, and increased elderly use of prescription drugs by 4.7%, implying a price elasticity of demand of -0.22. These effects occurred primarily during the first year of the program. An age- and time-standardized comparison of our quantity results with previous estimates from Walgreens data shows that our findings are 2.6 times as large. We conclude that Part D lowered elderly patients' OOP costs substantially and increased utilization modestly, and note that in comparing results across studies on this topic, magnitudes may vary substantially due to differences in data and methods.

Download or read book Medicare Part D s Effects on Elderly Drug Costs and Utilization written by Jonathan Ketcham and published by . This book was released on 2010 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze Medicare Part D's net effect on elderly out-of-pocket (OOP) costs and use of prescription drugs using a dataset containing 1.4 billion prescription records from Wolters Kluwer Health (WKH). These data span the period December 2004-December 2007 and include pharmacy customers whose age as of 2007 is greater than 57 years. The outcomes we examine are OOP cost per day's supply of a medication, the days of medication supplied per capita, and the number of individuals filling prescriptions. We compare outcomes before vs. after January 2006, for those over age 66 years vs. for those age 58-64 years, adjusting for the under-reporting of certain cash-only transactions in the WKH data. Our results indicate that from 2005-2007, Part D reduced elderly OOP costs per day's supply of medication by 21.7%, and increased elderly use of prescription drugs by 4.7%, implying a price elasticity of demand of -0.22. These effects occurred primarily during the first year of the program. An age- and time-standardized comparison of our quantity results with previous estimates from Walgreens data shows that our findings are 2.6 times as large. We conclude that Part D lowered elderly patients' OOP costs substantially and increased utilization modestly, and note that in comparing results across studies on this topic, magnitudes may vary substantially due to differences in data and methods.

Download or read book Medicare Part D s Effect on Elderly Drug Costs and Utilization written by Jonathan D. Ketcham and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Medicare Part D Prescription Drug Benefit written by United States. Congress. Senate. Special Committee on Aging and published by . This book was released on 2014 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Medicare Handbook written by and published by . This book was released on 1989 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Effects of Medicare Part D on Non proper Use of Prescription Drugs in Elderly Medicare Beneficiaries written by Dooyoung Lim and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Medicare Part D program enhanced Medicare beneficiaries ability to afford prescription drugs through reduced drug prices, thereby increasing their drug utilization rates. Considering potentially high price responsiveness of lower degree of necessity drugs, Part D is likely to induce higher consumption of improperly used prescription drugs, including inappropriate and off-label drugs, in Medicare enrollees. Yet little evidence exists about howand to what extentPart D might have an impact on these types of medication use of elderly Medicare recipients. This thesis using multi-year (2001-2010) data from the Medical Expenditure Panel Survey (MEPS) explores whether and how much Part D has influenced inappropriate and off-label drug use patterns among elderly Medicare beneficiaries. The difference-in-differences (DD) model was used for both analyses. The inappropriate drug use study found that Part D did not promote the use of Beers Criteria (BC) drugs among elderly Medicare beneficiaries; rather, there has been a decreasing trend in the use of BC drugs over time regardless of type of insurance coverage. Similarly, Part D did not promote off-label psychotherapeutic drug use among those who had newly obtained drug coverage through Part D. However, dual-eligibles increased off-label psychotherapeutic drug use after Part D went into effect, indicating that the transition of prescription drug costs from Medicaid to Medicare after Part D might have influenced the off-label psychotherapeutic drug use patterns of dual-eligibles. Both inappropriate and off-label drug use rates are remarkably high among elderly Medicare beneficiaries, suggesting that continuing clinical and policy efforts should be established to reduce non-proper use of prescription drugs among elderly Medicare enrollees in order to improve quality prescription drug therapies.

Download or read book The Cost and Health Effects of Prescription Drug Coverage and Utilization in the Medicare Population written by Baoping Shang and published by . This book was released on 2005 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Medicare Prescription Drug, Improvement and Modernization Act of 2003 provides prescription drug coverage for virtually all seniors. The cost estimates for the Medicare prescription drug coverage are based on the expected per beneficiary utilization but do not take into account the potential offset by savings on other medical services. To estimate these savings, the author examines the effects of Medigap prescription drug benefit on elderly prescription drug spending, Medicare Part A spending, and Medicare Part B spending. It compares spending and service use for beneficiaries who have Medigap insurance, which may or may not cover prescription drugs, and uses variation in state regulations of the individual insurance market-including guaranteed issues and community rating-as instruments for prescription drug coverage. The author estimates that Medigap prescription drug coverage significantly increases drug spending by 22% and reduces Medicare Part A spending by 10613%. Medicare Part B spending is reduced by an insignificant amount. The results imply that a $1 increase in prescription drug spending is associated with $1.636$2.05 reduction in Medicare spending. The dissertation also considers the lifetime effects of anti-hypertensives on health outcomes and healthcare expenditures. The results suggest that controlling hypertension in the elderly could be very cost-effective.

Download or read book Medicare Part D s Effects on Elderly Drug Costs and Utilization written by and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Medicare Part D and Its Effect on the Use of Prescription Drugs Use of Other Health Care Services and Health of the Elderly written by Robert Kaestner and published by . This book was released on 2010 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we provide an assessment of the effect of Medicare Part D on the previously uninsured. We examine the effect of gaining prescription drug insurance as a result of Medicare Part D on use of prescription drugs, use of other medical services, and health for a nationally representative sample of Medicare beneficiaries. Given the heightened importance of prescription drugs for those with chronic illness, we provide separate estimates for those in poorer health. We find that gaining prescription drug insurance through Medicare Part D was associated with an 63% increase in the number of annual prescriptions, but that obtaining prescription drug insurance is not significantly related to use of other health care services or health, as measured by functional status and self-reported health. Among those in poorer health, we find that gaining prescription drug insurance was associated with a 56% increase in the number of annual prescriptions, and is not significantly related to health. For this group, there is some evidence that prescription drug insurance was associated with a decrease in the use of outpatient services -- National Bureau of Economic Research web site.

Download or read book Prescription Drugs and Elderly Americans written by and published by . This book was released on 1987 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Making Medicines Affordable written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2018-03-01 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thanks to remarkable advances in modern health care attributable to science, engineering, and medicine, it is now possible to cure or manage illnesses that were long deemed untreatable. At the same time, however, the United States is facing the vexing challenge of a seemingly uncontrolled rise in the cost of health care. Total medical expenditures are rapidly approaching 20 percent of the gross domestic product and are crowding out other priorities of national importance. The use of increasingly expensive prescription drugs is a significant part of this problem, making the cost of biopharmaceuticals a serious national concern with broad political implications. Especially with the highly visible and very large price increases for prescription drugs that have occurred in recent years, finding a way to make prescription medicinesâ€"and health care at largeâ€"more affordable for everyone has become a socioeconomic imperative. Affordability is a complex function of factors, including not just the prices of the drugs themselves, but also the details of an individual's insurance coverage and the number of medical conditions that an individual or family confronts. Therefore, any solution to the affordability issue will require considering all of these factors together. The current high and increasing costs of prescription drugsâ€"coupled with the broader trends in overall health care costsâ€"is unsustainable to society as a whole. Making Medicines Affordable examines patient access to affordable and effective therapies, with emphasis on drug pricing, inflation in the cost of drugs, and insurance design. This report explores structural and policy factors influencing drug pricing, drug access programs, the emerging role of comparative effectiveness assessments in payment policies, changing finances of medical practice with regard to drug costs and reimbursement, and measures to prevent drug shortages and foster continued innovation in drug development. It makes recommendations for policy actions that could address drug price trends, improve patient access to affordable and effective treatments, and encourage innovations that address significant needs in health care.

Download or read book Prescription Drug Coverage and Elderly Medicare Spending written by Baoping Shang and published by . This book was released on 2007 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: The introduction of Medicare Part D has generated interest in the cost of providing drug coverage to the elderly. Of paramount importance -- often unaccounted for in budget estimates -- are the salutary effects that increased prescription drug use might have on other Medicare spending. This paper uses longitudinal data from the Medicare Current Beneficiary Survey (MCBS) to estimate how prescription drug benefits affect Medicare spending. We compare spending and service use for Medigap enrollees with and without drug coverage. Because of concerns about selection, we use variation in supply-side regulations of the individual insurance market -- including guaranteed issue and community rating -- as instruments for prescription drug coverage. We employ a discrete factor model to control for individual-level heterogeneity that might induce bias in the effects of drug coverage. Medigap prescription drug coverage increases drug spending by $170 or 22%, and reduces Medicare Part A spending by $350 or 13% (in 2000 dollars). Medigap prescription drug coverage reduces Medicare Part B spending, but the estimates are not statistically significant. Overall, a $1 increase in prescription drug spending is associated with a $2.06 reduction in Medicare spending. Furthermore, the substitution effect decreases as income rises, and thus provides support for the low-income assistance program of Medicare Part D.

Download or read book Discrepancies in Total and Out of pocket Prescription Costs Between Working age and Elderly Medicare Beneficiaries written by Joshua James Engle and published by . This book was released on 2009 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Competition and the Cost of Medicare s Prescription Drug Program written by Anna Cook and published by . This book was released on 2014-09-03 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (the Medicare Modernization Act, or MMA) substantially expanded the federal Medicare program by creating the prescription drug benefit known as Part D. In FY 2013, Medicare Part D covered 39 million people. The federal government spent $59 billion net of premiums on Part D in that year; after accounting for certain payments from states under the program, the net federal cost was $50 billion, which represented 10% of net federal spending for Medicare. A combination of broader trends in the prescription drug market and lower-than-expected enrollment in Part D has contributed to much lower spending for the program than projected when the MMA became law in 2003. This report examines the federal budgetary cost and competitive design of Medicare Part D and compares Medicare Part D and Medicaid Fee for Service. Figures and tables. This is a print on demand report.

Download or read book Prescription Drug Insurance Coverage Drug Utilization and Cost Related Non Adherence written by Gary V. Engelhardt and published by . This book was released on 2013 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses the substantial increase in prescription drug insurance coverage from the adoption of Part D to generate new estimates the impact of coverage on drug utilization and cost-related non-adherence. The analysis uses detailed panel data on the elderly before and after the implementation of Part D drawn from the 2005 and 2007 Prescription Drug Study (PDS), administered as a supplement to the Health and Retirement Study (HRS), a large nationally representative survey of Americans aged 50 and older. Fixed-effect estimates suggest that gaining coverage results in a 15 percent increase in utilization. These results are consistent with the lower end of estimates in the literature. Gaining coverage also is associated with a 20-50 percent reduction in the incidence of cost-related non-adherence. However, even among the uninsured, only a relatively small proportion of drugs (12 percent) are associated with episodes of cost-related non-adherence. So, these large reductions apply to a small slice of all drugs.

Download or read book Retooling for an Aging America written by Institute of Medicine and published by National Academies Press. This book was released on 2008-08-27 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the first of the nation's 78 million baby boomers begin reaching age 65 in 2011, they will face a health care workforce that is too small and woefully unprepared to meet their specific health needs. Retooling for an Aging America calls for bold initiatives starting immediately to train all health care providers in the basics of geriatric care and to prepare family members and other informal caregivers, who currently receive little or no training in how to tend to their aging loved ones. The book also recommends that Medicare, Medicaid, and other health plans pay higher rates to boost recruitment and retention of geriatric specialists and care aides. Educators and health professional groups can use Retooling for an Aging America to institute or increase formal education and training in geriatrics. Consumer groups can use the book to advocate for improving the care for older adults. Health care professional and occupational groups can use it to improve the quality of health care jobs.

Download or read book Prescription Drug Coverage and Drug Use Among Elderly Medicare Beneficiaries written by Soon Im Huh and published by . This book was released on 2005 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: