Report: Generic Medications Saved $931B in Last Decade
Over the last decade, consumers and the U.S. health care system have saved $931 billion because of increased use of generic prescription drugs, according to a Generic Pharmaceutical Association report. The report found that in 2010 generic drug use resulted in about $158 billion in savings, or $3 billion weekly. The report -- which was based on an independently conducted analysis -- found that Medicaid could save more than $1.3 billion annually by increasing use of generic drugs by two percentage points.
- "Generic Prescription Drugs Saved U.S. Consumers $931B Over Past Decade" (Letourneau, Healthcare Finance News, 9/22).