title: Projected Spending on Psychotropic Medications 2013-2020.
abstract: Spending on psychotropic medications has grown rapidly in recent decades. Using national data on drug expenditures, patent expirations, future drug development and expert interviews, we project that spending will grow more slowly over the period 2012-2020. The average annual increase is projected to be just 3.0 % per year, continuing the steady deceleration in recent years. The main drivers of this expected deceleration include slower development of new drugs, upcoming patent expirations which will lower prices, and payers' growing ability to manage utilization and promote generic use. The slowdown will relieve some cost pressures on payers, particularly Medicare and Medicaid.
authors.affiliation: Heller School for Social Policy and Management, Brandeis University, Mailstop 35, Waltham, 02454, USA. hodgkin@brandeis.edu.
authors.forename: Dominic
authors.initials: D
authors.lastname: Hodgkin
authors.affiliation: Heller School for Social Policy and Management, Brandeis University, Mailstop 35, Waltham, 02454, USA.
authors.forename: Cindy Parks
authors.initials: CP
authors.lastname: Thomas
authors.affiliation: Behavioral Health and Quality Research, Truven Health Analytics, Cambridge, USA.
authors.forename: Peggy L
authors.initials: PL
authors.lastname: O'Brien
authors.affiliation: Behavioral Health and Quality Research, Truven Health Analytics, Bethesda, USA.
authors.forename: Katharine
authors.initials: K
authors.lastname: Levit
authors.affiliation: University of Michigan School of Public Health, Ann Arbor, USA.
authors.forename: John
authors.initials: J
authors.lastname: Richardson
authors.affiliation: Behavioral Health and Quality Research, Truven Health Analytics, Bethesda, USA.
authors.forename: Tami L
authors.initials: TL
authors.lastname: Mark
authors.affiliation: Centers for Medicare & Medicaid Services, Baltimore, USA.
authors.forename: Kevin
authors.initials: K
authors.lastname: Malone
mesh_terms: D055808:Drug Discovery; D016568:Drugs, Generic / Q000191:economics; D005544:Forecasting; D005102:Health Expenditures; D006801:Humans; D008484:Medicaid; D006278:Medicare; D010330:Patents as Topic; D011619:Psychotropic Drugs / Q000191:economics*; D014481:United States
chemical_list: D016568:Drugs, Generic; D011619:Psychotropic Drugs
keywords: Generic drugs; Psychotropic medications; Spending growth