Reducing the High Price of Prescription Medicines

Today, the prices of healthcare services—physicians, hospitals and prescription drugs—are at unprecedented levels, creating barriers to access for individuals who need care.

Addressing the excessive prices of prescription drugs provides the most immediate opportunity for some relief of exorbitant healthcare prices overall. Prescription drug prices continue to increase much more rapidly than inflation, resulting in an expected growth in spending of 6.3 percent annually. And although the drivers of high prescription drug pricing are complex, several feasible policy solutions would begin to rebalance incentives for innovation and price competition, and prioritize patient access and affordability.