Silver Book Fact

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New Medicines Account for 40% of Increase in Life Expectancy

Reference

Title
Patient Impact of Medicines
Authors
PhRMA
URL
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Categories

  • Innovative Medical Research
  • Human Value

Related Facts

  • Spending $11,000 on general medical care adds an average of 1 year of life. Spending only $1,345 on pharmaceutical research and development yields the same return.  
  • Appropriate use of diagnostics prevents between $28-$46 million in prescription drug, outpatient and inpatient costs.  
  • Medicare could save $26 billion per year if currently healthy older people were able to remain fully independent over the course of a single year.  
  • In an optimistic scenario, more effective prevention and management of disease could save $218 billion in treatment expenditures annually in 2023.  
  • Increased longevity added about $3.2 trillion per year to national wealth between 1970 and 2000, an uncounted value equal to approximately 1/2 of the average annual GDP during that period.