Silver Book Fact

Fact image

Increased Use of Medicines Reduces Overall Health Care Costs: Mental health/substance abuse (MH/SA) spending per patient fell as drug spending increased, 1992-1999

PhRMA. The Value of Medicines: Facts and figures 2006; 2006. http://innovation.org/documents/Value%20of%20Medicine%20FINAL%200712061.pdf

Reference

Title
The Value of Medicines: Facts and figures 2006
Publication Date
2006
Authors
PhRMA
URL
Read Full Resource

Categories

  • Innovative Medical Research
  • Economic 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.  
  • Using newer drugs could lower overall health expenses by as much as $111 per person, per condition, for the general population, and $155 for Medicare beneficiaries.  
  • 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…  
  • Resonable disease prevention and management efforts could add $5.7 trillion to the nation’s economic output by 2050– a boost of 18%.  
  • Using Newer Medicines Results in Savings of $111 per Treated Condition