GAO Report Looks at Medicare Spending on Part B Drugs

A new report from the Government Accountability Office (GAO) looks at Medicare spending on Part B drugs.

From the report:

  • “In 2010, the 55 highest-expenditure Part B drugs represented $16.9 billion in spending, or about 85 percent of all Medicare spending on Part B drugs, which totaled $19.5 billion. The 10 highest-expenditure Part B drugs accounted for about 45 percent of all Part B drug spending in 2010.”
  • “We also examined the average annual per beneficiary cost of each drug and found that factor viii recombinant, although used by the smallest number of Medicare beneficiaries, was the most costly drug on an average annual per beneficiary cost basis—the average annual cost was about $217,000 for each beneficiary who used it in 2010.”
  • “Changes in Medicare expenditures from 2008 to 2010 for the 55 highest-expenditure Part B drugs in 2010 ranged from a 9,550 percent increase to a 40 percent decrease.”

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