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

  • For every $1 spent on newer instead of older medicines, total health care spending is reduced by $6.17.  
  • Avoidable Treatment Costs and Output Losses, 2023  
  • The share of elderly with impairments in their ability to live independently went down between 1% and 1.5% annually between 1984 and 2004, compared to the historical annual decline in…  
  • 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.  
  • 2004 saw the sharpest drop in deaths in around 60 years – down almost 50,000 from 2003. The research team for “Death: Preliminary Data for 2004” from the National Center…