Drug expenditures surge due to the use of high-priced drugs
By Lee, Tak-Sun | translator Alice Kang
25.01.17 05:20:01
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Total drug expenditure in 2023 amounts to KRW 26.196 trillion...8.5% year-on-year increase
Twice high growth rate compared to Korea’s total health expenditures...drugs account for 23.6% of the expenditures
Drug expenditures have risen significantly in 2023 due to the rising cost of high-priced anticancer drugs and rare disease treatments. Due to the aging population increasing the expenditures spent on treating chronic diseases, an urgent need has arisen to come up with a measure to reduce drug expenditures.
According to the National Health Insurance Service (NHIS, President: Ki-suk Jung), the total drug expenditure in 2023 was KRW 26.196 trillion, an 8.5% increase from the previous year (KRW 24.1542 trillion).
This is twice as high as the 4.7% year-on-year increase in total medical expenses (KRW 110.8029 trillion) in 2023. The proportion of drug expenses in medical expenses also increased by
Lee, Tak-Sun(hooggasi2@dailypharm.com)
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