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Rising insulin prices drive higher diabetes care spending
Modern Healthcare: Type 1 diabetes has become a more costly disease to manage, thanks in large part to insulin costs nearly doubling over five years.
All in all, Type 1 diabetes costs rose from $12,467 in 2012 to $18,494 in 2016, according to a report released Tuesday by the Health Care Cost Institute. The group found the increased cost of insulin accounted for 31% of per-person healthcare spending in 2016, as the average annual out-of-pocket spending for insulin jumped from $2,864 to $5,705 in that same time frame.
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