Silver Book Fact

For every $1 spent on newer instead of older medicines, total health care spending is reduced by $6.17.

Lichtenberg F. Benefits and Costs of Newer Drugs: An update. National Bureau of Economic Research Working Paper. 2002; 8996. http://www.nber.org/papers/W8996

Reference

Title
Benefits and Costs of Newer Drugs: An update
Publication
National Bureau of Economic Research Working Paper
Publication Date
2002
Authors
Lichtenberg F
URL
Read Full Resource

Categories

  • Innovative Medical Research
  • Economic Value

Related Facts

  • If the major risk factors for chronic disease were eliminated, at least 80% of heart disease, stroke and type 2 diabetes would be prevented; and 40% of cancer would be…  
  • Changes in behavior, preventative measures and innovation could save $1.6 trillion in treatment costs.  
  • New Medicines Account for 40% of Increase in Life Expectancy  
  • Between 1980 and 2000, annual age adjusted per person health care costs increased by $2,254 (102%) but were accompanied by significant health gains including: a 16% decline in annual death…  
  • National health spending growth is projected to slow from 6.9% in 2005 to 6.8% in 2006, which marks the 4th consecutive year of a slowing trend.