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Canada — Baby-Boomer Effect on Prescription Expenditures and Claims

March 16, 2011 Comments off

Baby-Boomer Effect on Prescription Expenditures and Claims (PDF)
Source: Patented Medicine Prices Review Board

In 2011, the oldest members of the baby-boomer generation will turn 65. This demographic shift will herald dramatic changes in health care expenditures, including an increase in spending for prescription medications and an increase in the number of reimbursement claims.

Based on public drug plan data from five provinces, Alberta, Saskatchewan, Manitoba, New Brunswick and Nova Scotia, this report focuses on the sector of the population that is 65 years of age or older and covered by provincial drug plans.

The study analyzes recent historical data (2002–2006) and the projected future growth in expenditures and number of prescriptions over a 25-year period (2006–2031). Future growth is predicted based on the 2006 per beneficiary cost for each 5-year period.

Although many factors contribute to the average annual growth rate (AAGR) in prescription medication expenditures (including the regulation of pharmaceuticals and market structure), for the purpose of this study, only the effects of demographic change are considered. It is important to note that the findings in this study cannot be extrapolated to other Canadian population groups or other sectors of the health care system.

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