According to recent reports in Health Affairs, the rate of increase in healthcare spending in 2007 dropped to its lowest level in over ten years to 6.1%. This is still a pretty hefty growth rate and most factors grew at the same levels as they did in 2007. The driver of the reduced rate of growth was largely due to the rate of prescription drug spending to its lowest rate in 45 years (4.9%).
The driving force to the decrease of prescription drug spending has been the rise in patent expirations, increased generic penetration, and reduced new product innovations.
This trend in the use of generics is striking, according to one pharmacist who has been out of the dispensing business for years (she worked for a MECC), and has recently gone back (her firm went out of business) stated that the biggest change since she worked at a pharmacy ten years ago was that generics were, at that time, a small part of her dispensing and today represent the majority.
Health Affairs: National Health Spending In 2007: Slower Drug Spending Contributes To Lowest Rate Of Overall Growth Since 1998
The Wall Street Journal: Health-Care Outlays Climb at Slowest Rate in Years