3 Drugs Accounted for Half the Spending on New Part B Drugs in 2013

The U.S. Government Accountability Office recently conducted a study on Medicare Part B expenditures for new drugs in 2013. Here are some key findings from the report:

·         2 in 3 new Part B drugs had expenditures per beneficiary in excess of $9,000 in 2013.

·         Total Part B drug expenditures grew at an annual rate of 4.4% from 2007-2013.

·         Medicare spent $5.9 billion on new Part B drugs in 2013.

·         53% of new Part B drugs were used for cancer, blood diseases, or diagnostic imaging.

·         3 drugs accounted for 53% of spending on the 75 new Part B drugs.

·         61% of new Part B drugs from 2006-2013 were biologics, compared to 16% of new non Part B drugs.

Source: GAO, October 2015