Medication Shopping—It’s A Brave New World

The share of health care spending on prescription pharmaceuticals has remained stable in recent years at 10% of health care expenditures. But, medication spending has risen with the rest of health care—the amount spent has risen from $271.1 billion in 2013, to $333.4 billion last year (see National Health Expenditures 2017 Highlights). In part, this increase reflects many great new scientific developments, new options for consumers, and lower hospitalization rates for many conditions.

Medication pricing have been largely insulated from traditional market forces. Medications are complicated and have efficacy and side effects unique to individuals. Pharmaceutical purchases . . .