New research from the University of North Carolina says the cost of a new cancer drug introduced in the year 2014 was six times more expensive than a new drug introduced in 2000, and the patients could be sharing a heavier part of the cost.
According to UPI, the researchers found the staggering price increases for treatments lined up with health insurance changes that are passing a greater portion of the cost onto the patients, and could be putting some people in jeopardy by not being able to afford the cost of the drugs.
Recently, the focus of the pharmaceutical industry has been on oral drugs for treatment of cancer, preferred over chemotherapy, which is also a favorite of private insurance companies. But the insurers in most recent years are shifting policies that result in higher co-pays for the patients.
In a press release from the university, Dr. Stacie Dusetzina, an assistant professor in the School of Pharmacy at the University of North Carolina, said, “Patients are increasingly taking on the burden of paying for these high-cost specialty drugs as plans move toward use of higher deductibles and co-insurance, where a patient will pay a percentage of the drug cost rather than a flat copay.”
Dr. Dusetzina reported in the study the cost of a new oral cancer drug in 2000 averaged about $1,869, and the cost for a new drug in 2014 jumped to an average of $11,325, almost six times the amount.
Since 2000, new oral cancer drugs have been introduced almost every year, with the exception of 2002, 2008 and 2010. A total of 32 new drugs were made available during the span, with an amazing 17 being launched between 2011 and 2013 alone.
To complete the study, Dusetzina analyzed changes in drug reimbursement programs for cancer drugs paid by commercial health plans, collecting data from the TruvenHealth MarketScan Commercial Claims and Encounter database.
Some experts say the newer drugs are more effective in fighting cancer, and that motivates companies to raise their prices. Dusetzina did not speculate a reason for the increases, but commented, “The major trend here is that these products are just getting more expensive over time.”
The findings from the study were published in the journal JAMA Oncology.