Prescription Spending Falls For First Time In 50 Years

TRENTON, N.J. (May 9, 2013)--Spending on prescription drugs in the U.S. fell for the first time in more than five decades last year, according to a new report from the IMS Institute for Healthcare Informatics, which says the total spent was down 3.5 percent to $325.8 billion last year.

That's partly because patients benefited from a surge of new, inexpensive generic versions of widely used drugs for chronic conditions, such as Lipitor for high cholesterol.

But there's a downside.

Another reason for the decline was that cash-strapped consumers continued to cut back on or delay needed doctor visits, medicines and other treatments.

Some waited to seek care until they were very sick, leading to a jump in patients admitted to hospitals after coming to the emergency department.

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