In recent years, the prices charged for specialty drugs have become a source of concern for many policymakers. Such drugs typically treat chronic, complex, or rare conditions, frequently have high prices, and may require special handling or patient monitoring. They accounted for a growing share of total net drug spending from 2010 to 2015 in both Medicare’s prescription drug benefit (Part D) and Medicaid. The net prices paid for specialty drugs are much higher in Medicare Part D than in Medicaid, and net spending on such drugs grew much faster in Medicare Part D than in Medicaid.

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