Silver Book Fact

Fact image

Using Newer Medicines Results in Savings of $111 per Treated Condition

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

  • The United States would have spent $634 billion less on health care in 2000 without many of the improvements in health and the associated investments that were seen between 1980…  
  • The Cleveland Clinic lists these medical innovations in their top ten, because of the potential for short term clinical impact, high probability of success, the availability, and/or data to support…  
  • For every $1 spent on newer instead of older medicines, total health care spending is reduced by $6.17.  
  • The percentage of noninstitutionalized adults 65 years of age and over with limitation of activity decreased from 39% to 36% between 1997 and 1999 and then remained at 34-35% between…  
  • In an optimistic scenario, more effective prevention and management of disease could save $218 billion in treatment expenditures annually in 2023.