Reports and Surveys | October 9, 2024

2024 Insights into Actual Medical & Prescription Drug Trends

As a health plan sponsor, you keep abreast of health plan cost trends and are interested in the primary drivers.

We’ve created an infographic showing 2024 insights into health plan cost trends based on data from our proprietary health data warehouse, Segal Health Analysis of Plan Experience (SHAPE).

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2024 Insights Actual Medical and Prescription Drug Trends Download Now

What you'll learn

The infographic includes actual cost trend data from 2019 to 2023 for:

  • Medical plans
  • Prescription drug trend
  • Trends for generic, brand and specialty drugs
  • How trend differs for plans that cover anti-obesity medications (AOMs) compared to those that do not cover AOMs
  • Cancer-related medical and prescription drug trends
  • How the cost trend for mental health compares to overall medical cost trend

For medical and prescription drug trend, the infographic shows the trend range for each year and the median historical trend.

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You'll also learn:

  • The three main drivers of medical cost trend
  • The four conditions that are major drivers of prescription drug trend
  • The five types of cancer that are driving costs related to cancer treatment
  • The five conditions that are the main drivers of mental health cost trend
  • The percentage of plans in the SHAPE data warehouse that cover AOMs

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There's more data in the infographic! You'll learn:

  • The dramatic increase in the gross allowed cost per member per month (PMPM) for anti-diabetic GLP-1s (e.g., Mounjaro®, Ozempic® and Rybelus®) from the first quarter of 2022 to the fourth quarter of 2023
  • How the gross allowed cost PMPM for anti-obesity GLP-1s (e.g., Saxenda® and Wegovy®) increased significantly beginning in Q1 2023, when Wegovy reached the marketplace
  • The annual rate of preventive cancer screenings from 2019 to 2023
  • The post-pandemic increase in percentage of health plan participants being treated each year for mental health conditions
  • The percent of all mental health-related visits that were virtual
  • The percent of all virtual visits that are related to mental health

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How do your plan’s medical and prescription drug trends compare to this data?

Do you know what’s driving those trends?

Analysis of your data can reveal your cost drivers — information you need to focus your cost-management strategies for maximum impact.

 

About SHAPE and how it can help target your cost-management efforts

SHAPE includes information from large health plans across the United States representing a range of industries and organizations. Collectively, they cover more than four million lives.

You can use SHAPE data to benchmark your plan’s experience and performance.

Interested in mining your own health plan data and/or benchmarking it?

Let's have a conversation.

Get in Touch

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This page is for informational purposes only and does not constitute legal, tax or investment advice. You are encouraged to discuss the issues raised here with your legal, tax and other advisors before determining how the issues apply to your specific situations.