Silver Book Fact

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.

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
  • Future Value

Related Facts

  • Resonable disease prevention and management efforts could add $5.7 trillion to the nation’s economic output by 2050– a boost of 18%.  
  • New Medicines Account for 40% of Increase in Life Expectancy  
  • Avoidable Productivity Losses, 2023  
  • Using Newer Medicines Results in Savings of $111 per Treated Condition  
  • 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