Employee Benefits Updates provided by Parker, Smith & Feek

The Impact of Rising Prescription Drug Costs

Global spending on prescription drugs will reach nearly $1.8 trillion by 2026—and the United States alone will spend up to $715 billion, according to the IQVIA Institute for Human Data Science. Furthermore, the global medicine market is expected to grow at a 3% to 6% compound annual growth rate through 2026.

As prescription drug costs continue to increase, it’s important to understand the trends behind them and how to manage your organization’s healthcare expenses better.

To learn more, read the most recent HR Insight

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