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 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 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 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 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 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 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 The Medicare Part D Drug Program written by Jack E. Fincham and published by Jones & Bartlett Learning. This book was released on 2007 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is the Medicare Part D Drug Benefit? How does it work? Am I eligible? How can I apply? The only book of its kind, this practical guidebook offers the answers to these questions and much more! Whether you're a senior, caregiver, or practicing healthcare professional, The Medicare Part D Drug Program: Making the Most of the Benefit clearly and concisely explains how the Medicare Part D Drug Benefit works, where to obtain clarification and further information about the Program, how and when to apply, and how to use the Benefit to help seniors. In an easy-to-use format featuring simple terminology, this book explains how the Medicare Part D Drug Program meshes with other insurance programs and offers essential information on the Benefit and its components.

Download or read book Medicare Part D written by John E. Dicken and published by DIANE Publishing. This book was released on 2010-06 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Centers for Medicare and Medicaid Serv. (CMS) allows Part D plans to utilize different tiers with different levels of cost sharing as a way of managing drug utilization and spending. One such tier, the specialty tier, is designed for high-cost drugs (HCD) whose prices exceed a certain threshold. Beneficiaries who use these drugs typically face higher out-of-pocket costs than those who use only lower-cost drugs. This report provides info. about HCD eligible for a specialty tier incl. spending under Medicare Part D; how different cost-sharing structures could be expected to affect beneficiary out-of-pocket costs; how negotiated drug prices could be expected to affect beneficiary out-of-pocket costs; and Part D plan sponsors ability to negotiate price concessions. Illus.

Download or read book Closing the Medicare Part D Coverage Gap written by Joohyun Park and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The standard Medicare Part D benefit structure contains a gap in coverage (or so-called "doughnut hole") which requires beneficiaries to pay 100% of the cost for prescription drugs until they reach the catastrophic coverage phase. This coverage gap has been linked to a financial burden for beneficiaries resulting in poor medication adherence and other cost-related access problems. Under the 2010 Affordable Care Act (ACA) reform, the coverage gap has been gradually phasing out since 2011 such that beneficiaries will only pay 25% of drug costs by 2020. This study evaluated the impact of closing the coverage gap under the ACA by conducting three separate studies using data from the 2008-2015 Medicare Current Beneficiary Survey. Outcomes assessed included the utilization of and expenditures for prescription drugs, as well as cost-related access problems. Chapter 3 (Manuscript #1) analyzes trends in the distribution of beneficiaries in each benefit phase, prescription drug utilization, and expenditures among Part D beneficiaries not receiving the Low-Income Subsidy (LIS). After the ACA, the proportion of beneficiaries reaching the catastrophic coverage threshold increased (from 4% in 2010 to 6% in 2015), and they reached the threshold earlier in the year. The overall number of 30-day drug fills also increased after the ACA, although no significant changes in the number of 30-day drug fills were seen among those reaching the catastrophic coverage threshold. Total drug spending steadily increased after the ACA, with the largest increase seen in those reaching the catastrophic threshold; however, out-of-pocket spending significantly decreased among all beneficiaries (17% decrease in 2015 compared to 2009). Chapter 4 (Manuscript #2) evaluates the effects of the ACA coverage gap reform on drug utilization and expenditures using a difference-in-differences study design. Over the first five years after implementation of the ACA, out-of-pocket drug spending significantly decreased among non-LIS beneficiaries (treatment) relative to LIS beneficiaries (control), with growing decreases over time (average decreases of $41 in 2011 versus $135 in 2015). This was particularly noticeable among those who reached the coverage gap but not the catastrophic threshold. Despite seemingly large reductions in cost-sharing in the coverage gap, there were no significant changes in the number of 30-day drug fills and total drug spending after the ACA reform between non-LIS and LIS beneficiaries. Chapter 5 (Manuscript #3) evaluates the effects of the ACA coverage gap reform on cost-related access problems among beneficiaries using a difference-in-differences study design. Cost-related access problems were estimated by the likelihood of having cost-related nonadherence (CRN) or the adoption of drug cost-reduction strategies (CRS) by beneficiaries. Compared to LIS beneficiaries, no significant changes in CRN were seen among non-LIS beneficiaries after the ACA; furthermore, the likelihood of adopting CRS increased by 4 percentage points for non-LIS beneficiaries relative to LIS beneficiaries. Although the ACA reform has helped reduce out-of-pocket drug costs for beneficiaries by gradually reducing the beneficiary cost-sharing rate in the Part D coverage gap, the significant reduction in cost-sharing rate did not translate into an increased use of prescription drugs or resolved cost-related access problems for beneficiaries. Additionally, this study provides evidence of increased Part D spending, which has been a growing concern for the Medicare program. The findings of this study provide empirical evidence on the effects of closing the Part D coverage gap and address gaps in the limited existing literature. Overall, although the ACA decreased out-of-pocket drug costs, this study suggests additional initiatives will be needed to provide better protection against the cost of prescription drugs for Part D beneficiaries.

Download or read book The effects of outpatient prescription drug coverage for the elderly on the utilization and cost of health care services reimbursed under Medicare written by Earle W. Lingle and published by . This book was released on 1985 with total page 644 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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 Prescription Drug Advertising and Drug Utilization written by Abby Alpert and published by . This book was released on 2015 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pharmaceutical firms currently spend over $4 billion on direct-to-consumer advertising (DTCA) of prescription drugs, a nearly 30-fold increase since 1993 that has led to much debate about its value to patients. We examine how DTCA influences drug utilization along the extensive and intensive margins by exploiting a large and plausibly exogenous shock to DTCA driven by the introduction of Medicare Part D in 2006. Using data on advertising for local media markets from Nielsen, we show that Part D led to large relative increases in DTCA in geographic areas with a high concentration of Medicare beneficiaries compared to areas with a low concentration. We examine the effects of this sudden differential increase in advertising on non-elderly individuals to isolate the effects of advertising on drug utilization from the direct effects of Part D. Using data from pharmacy claims, we find substantial differential increases in drug utilization that mirror the increases in DTCA after Part D. These effects are driven both by increased take-up of treatment and improved drug adherence. Our results imply significant spillovers from Medicare Part D onto the under-65 population and an important role for non-price factors in influencing prescription drug utilization.