If policymakers want to bend the healthcare cost curve, they should stop blaming breakthrough medicines and start fixing the hospital market.
America’s healthcare tab has hit a new record. According to federal data published late last month, national health expenditures climbed to nearly $5.7 trillion in 2025, an increase of 7.3% over the previous year.
The report noted that retail prescription drug spending rose 11%, driven in part by increased use of GLP-1 medicines.
Increases in health spending are not, by themselves, evidence that our system is failing.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.
Don’t Blame Breakthrough Drugs for Costs, Fix Hospital Market
Sally C. Pipes
If policymakers want to bend the healthcare cost curve, they should stop blaming breakthrough medicines and start fixing the hospital market.
America’s healthcare tab has hit a new record. According to federal data published late last month, national health expenditures climbed to nearly $5.7 trillion in 2025, an increase of 7.3% over the previous year.
The report noted that retail prescription drug spending rose 11%, driven in part by increased use of GLP-1 medicines.
Increases in health spending are not, by themselves, evidence that our system is failing.
Read the op-ed here.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.