Key Highlights
- $21 billion spent out-of-pocket on prescriptions in 2024.
- Average out-of-pocket cost per prescription is $16.26.
- 51 million Americans leave prescriptions unfilled monthly.
- 37% increase in list prices for all prescription medications since 2014.
- 54% of medications covered by insurance, with restrictions on 50% of these.
Source: Business Wire
Notable Quote
- “We at GoodRx are working to bring affordability and transparency to Americans. With our new Prescription Cost Tracker, we aim to provide an easy-to-understand, continuously updated resource that will help aid in the fight for lower costs for all. Despite efforts by policymakers and industry leaders to break down affordability and accessibility barriers, a patient’s actual out-of-pocket cost continues to increase and is often a huge surprise to them.” — Scott Wagner, Interim CEO at GoodRx
SoHC's Take
GoodRx’s introduction of the Prescription Cost Tracker marks a significant step towards addressing the persistent issues of high medication costs and limited insurance coverage in the U.S. healthcare system. By regularly updating and publicly sharing data on out-of-pocket expenses, GoodRx is enhancing transparency and helping consumers make informed decisions about their healthcare. This initiative not only highlights the ongoing challenges but also provides a valuable tool in the broader effort to make prescription medications more affordable and accessible for millions of Americans. As more data becomes available, stakeholders across the healthcare spectrum can leverage these insights to drive policy changes and improve patient outcomes.
