Growth in prescription drug spending has accelerated considerably in recent years, and it is projected to continue rising during the next decade, according to a report the Department of Health and Human Services recently submitted to Congress. Specifically, the report shows that growth in retail prescription drug spending increased 12.6% in 2014 – a much higher increase than overall health care spending in the U.S. Total spending on retail prescription drugs in the U.S. was $305 billion in 2014, and spending on non-retail prescription drugs was $119 billion. The report, which analyzes data and trends from 2003-2014, examines innovation and prescription drug development; prescription drug spending by Medicare Parts B and D, Medicaid, the Veterans Health Administration and purchasing arrangements and utilization management; and patient access to drugs.