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Prescription drugs represented the largest portion of the Medicaid programâs asthma-related expenses âgrowing from $223.5 million, or 53.1 percent of all asthma-related Medicaid spending, in SFY 200809 to $306.- 6 million, or 57.6 percent, in SFY 2012-13.
After dropping during the recession, drug prices have reignited in the past four years, returning to growth rates of a decade ago. In 2012, prescription drug prices rose 3.6%, twice the 1.7% inflation rate, Bureau of Economic Analysis data show.The trend is in sharp contrast to other health costs.Prices for a doctor's visit, lab test and nursing home room all fell below the rate of inflation for the past two years. What's driving drug costs up: brand-name drugs paid for by insurance and often heavily advertised.he top-selling drugs reflect the strategy of the $310 billion annual drug industry: No. 1 Nexium, a heartburn drug, had a 7.8% price hike to a $262 average prescription in the first nine months of 2012, IMS Health reports.