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Article: Study claims new drugs save health care dollars. (Breaking News).
- Article from:
- Biomedical Market Newsletter
- Article date:
- October 31, 2002
CopyrightCOPYRIGHT 2002 Biomedical Market Newsletter, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OCT. 04, 2002 -- WASHINGTON DC -- A new study presented on Capitol Hill today claims that using newer medicines in the place of older medicines reduces overall health care spending--and that the savings are greatest among the Medicare population.
The study, "Benefits & Costs of Newer Drugs: An Update," conducted by Columbia University economist Frank R. Lichtenberg and released as a National Bureau of Economic Research Working Paper, examined the effect of drug age--years since FDA approval --on total medical expenditures and mortality.
Dr. Lichtenberg found that replacing older medicines with newer medicines reduced nondrug health expenditures more than ...