New Drugs Save Lives, Reduce Costs
A new paper by Frank Lichtenberg says new cardiovascular drugs increased spending on drugs by $24 per capita over a ten-year period, but reduced hospital costs by $89-for a net savings of $65 for every man, woman and child in the country. Also, people live longer as a result.
A second paper, using Australian data, finds that newer drugs increased life expectancy by 1.23 years for a cost of $10,585 per year of extra life. (In the cost/benefit business, this is considered a very good return.)
Hat tip to Jason Shafrim, who has a very good blog.
thanks for the information
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