(KNSI) – The Minnesota Department of Health has released its new Prescription Drug Price Transparency data dashboards.
The figures include a look at price inflation over the past five years. The weighted average cost for all companies shows prescriptions have risen by nearly 42% over that period, well above most other goods and services. MDH says seven in ten adults used at least one prescription medicine in 2021. The rapid increase in prices threatens to force them to stretch their supply or skip taking necessary drugs altogether.
It also gauges the cost of new drugs as they make their way onto the market. Commissioner Dr. Brooke Cunningham says, “The data indicate some worrisome patterns of price inflation, and it is important to sharpen our focus on transparency and policy solutions.”
The department received input from 200 manufacturers covering nearly 700 drugs. A link to the dashboard is here.
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