Editor’s Note: Increasing costs for prescriptions is creating a long-term financial impact on Medicare Part D and its beneficiaries. Can your claims review resources maximize the turn around time needed for complex claims? CLICK HERE and let us show how BHM’s economically maintain turn-around times and accuracy for new members.

Drugmakers increased the price of 60 products August — a sharp decline from July, which saw 110 price increases, according to a Wells Fargo drug-pricing report.

For its report, analysts at Wells Fargo reviewed PriceRx data from August.

Here are four report findings:

1. The cost of 48 drugs went down in August. In July, 32 drug prices were lowered.

2. The 60 price hikes ranged from 486 percent to 1.6 percent, with a median increase of 9.9 percent.

3. The 48 drug price decreases ranged from 1.5 percent to 88 percent, with a median decrease of 38.6 percent.

4. Seven drugs increased in price by 100 percent or more. Those drugs included: FLUoxetine, Nitrofurantoin, Irbesartan-Hydrochlorothiazide, Valsartan, Thiamine, DilTIAZem and Ondansetron. Many of these drugs are generics.

Increasing costs for prescriptions is creating a long-term financial impact on Medicare Part D and its beneficiaries. Can your claims review resources maximize the turn around time needed for complex claims? CLICK HERE and let us show how BHM’s economically maintain turn-around times and accuracy for new members.