Proprietary Report on State of Specialty Spend and Trend Released by Pharmaceutical Strategies Group
Specialty trend increasing at a slower pace but maintains double-digit growth in PSG’s fifth annual integrated pharmacy and medical benefit report
DALLAS--(BUSINESS WIRE)--#analytics--Pharmaceutical Strategies Group (PSG) released the highly anticipated fifth annual State of Specialty Spend and Trend Report. This report uses integrated pharmacy and medical claims data to formulate a holistic view of specialty spend and trend.
PSG’s State of Specialty Spend and Trend Report details specialty drug utilization and spending through the lens of PSG’s proprietary Artemetrx® platform, which provides an integrated view of specialty costs.
“Trend increased by double-digits once again,” said Michael Lonergan, RPh, President of PSG. “But that isn’t the headline this year. It marks the first time in five years that trend increased at a slower pace, falling to 11.8 percent from 14.8 percent in 2019.”
“Claim utilization continues to drive trend,” said Lonergan. “The number of utilizers remained steady.”
This Artemetrx-powered report delivers insights such as:
- 4.0 percent of the population utilizes at least one specialty drug (2019 and 2020)
- 8.3 percent increase in the average number of claims per specialty utilizer (2019 to 2020)
- $1,276 projected average per member annual specialty spend by 2023
“Biosimilars are putting price pressure on innovator brands and driving savings for payers and plan sponsors,” said Renee Rayburg, RPh, Vice President of Specialty Clinical Consulting. “The percentage of total claims for innovator brands where biosimilars are available declined considerably between 2019 and 2020.
“For example, biosimilars for Neulasta® now account for nearly 34 percent of all pegfilgrastim claims.”
This year’s State of Specialty Spend and Trend Report continues to reflect PSG’s legacy of relentless client advocacy with perspectives on how payers and plan sponsors can transform insights into opportunities. The report is available for download effective August 12, 2021.
Download the report
Pharmaceutical Strategies Group, an EPIC company, relentlessly advocates for clients as they navigate complex and ever-changing drug cost management challenges. PSG’s innovative drug management solutions, including the proprietary data and analytics platform, Artemetrx, deliver actionable insights with exceptional financial and clinical value. PSG functions as a strategic partner through industry-leading intelligence and technologies to realize billions of dollars in drug cost savings for clients every year.
Marketing Director, PSG