Prescription/Specialty Medication Trends
Prescription drug use and spend has been steadily increasing in the U.S. and around the world. According to an annual report from IQVIA, Americans spent $98 billion out of pocket on prescription drugs in 2024, a 25% cumulative increase over five years.
The pipeline for specialty medications continues to be robust and growing despite higher costs and challenging regulatory requirements. Over the past decade, specialty medications have consistently represented a majority of new FDA drug approvals, rising from about two-thirds in the mid-2010s to approximately 80% by 2023–2024. While this trend underscores the pharmaceutical industry’s focus on complex, high-impact therapies for serious and rare conditions, it comes at a cost.
In addition, utilization is expected to increase as more innovative treatments and advanced therapies such as cell and gene therapies (CGTs) become available, providers become more familiar with prescribing, and as many Americans get older, sicker and require more medications. And, while less than 5% of the U.S. population requires treatment with specialty drugs, they now account for over 50% of net drug expenditure.
Cost Burden of Specialty Medications
Financial challenges exist for payers in both public and private sectors as they strive to provide their members with high quality care and comprehensive, affordable health benefits. However, hit by high-deductible premiums, patients tend to choose medications that minimize their out-of-pocket expenses, even if this places a greater financial burden on their health plan.
And even though discounts (or rebates) in the manufacturer-patient relationship can significantly reduce or eliminate any out-of-pocket cost for the patient, the affordability of high-cost treatments remains a challenge for patients as well. According to Kaiser Family Foundation, the average out-of-pocket prescription drug spending in 2023 was $1,432 per capita.
Reduce specialty drug spend with NASH
Navigating these challenges requires innovative solutions. At NASH, our mission is to save money for patients and payers while upholding the highest standards of quality care and clinical outcomes.
At NASH, we’re committed to empowering self-insured employers to take control of their healthcare spend. Through our specialty drug program, NASH offers a novel approach to significantly reduce the cost of 435+ high-priced self-injectable and oral specialty medications, often by 50% or more, without compromising quality of care or patient safety. We provide transparency, predictability, and substantial savings, directly addressing the core concerns of high-cost claims and specialty drug expenditures.
We exclusively partner with proven physicians, medical professionals, and other organizations who meet our stringent criteria for excellence. Every service we offer is meticulously planned to ensure a seamless experience for your patients and substantial savings for all stakeholders.
NASH is dedicated to tackling the drug affordability crisis in healthcare head-on, providing a unique solution that prioritizes quality care and substantial savings. Our commitment to excellence and cost-effectiveness positions us as a leader in the field, making healthcare more accessible and affordable for all.
Ready to find a clearer path to sustainable healthcare benefits? Contact NASH today to learn how our specialty drug program can deliver substantial savings for your self-insured plan.