Specialty drug spending The expenditure on specialty drugs is continuously rising, primarily due to increased usage and escalating prices.
Pharmaceutical Strategies Group’s annual Artemetrx State of Specialty Spend and Trend report reveals that specialty drug spending surged by 14.1% YoY, with 9.9% attributed to the number of claims and 3.9% to increased costs per claim.While the growth in spending on specialty drugs is still driven by increased claims and usage, there was a larger proportion of the growth attributed to the cost per claim this year. Morgan Lee, PSG’s senior director of research and strategy, highlighted this shift.
The rise in costs could indicate a shift towards more expensive medications, specific drug price increases, or changes in the distribution channel, such as outpatient hospitals, home infusion, or physician’s offices, which can impact overall costs.
AbbVie’s Humira and J&J’s Stelara maintained their positions as the top two specialty drugs in terms of spending, but newcomers like Skyrizi from AbbVie and Merck’s Keytruda climbed up the rankings in 2022.
The highest spending categories for specialty drugs remained consistent, with inflammatory disorders leading at 33%, followed by oncology (28%), multiple sclerosis (7%), immunological disorders (4%), and blood cell disorders (4%).
The net cost of specialty drugs per member per year (PMPY) increased to $1,169 from the previous year’s $1,025. PSG forecasts a continued annual growth of about 13% in PMPY through 2025.
Specialty drug spending
