Report to the President: Prescription Drug Coverage, Spending, Utilization, and Prices.. Section 2. Prescription Drug Costs for Medicare Beneficiaries
Spending on outpatient prescription drugs by non-institutionalized Medicare beneficiaries reached $25.1 billion in 1996 1 , the latest year for which accurate statistics are available (Poisal, et al, forthcoming). Four years earlier in 1992, beneficiaries spent $16.2 billion (Laschober and Olin, 1996).