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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
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Categories

  • Innovative Medical Research
  • Economic Value

Related Facts

  • In 2000, Americans saved 206 million days of hospital care because of health care investments.  
  • Using Newer Medicines Results in Savings of $111 per Treated Condition  
  • Every $1 invested in newer medications saves $7 in other costs.  
  • New medicines, or “new chemical entities” accounted for 40% (0.8 years) of the two-year gain in life expectancy seen in 52 countries from 1986-2000.  
  • Private health insurance benefit spending is predicted to slow from a peak of 9.5% in 2001 to 4.7% in 2006, partially because of Medicare Part D.