Advertisement

Should investment in medical innovation continue despite the bad economy?

"The health of our nation’s economy is inextricably linked to the health of our nation’s citizens – a connection made clear by the immense impact increasing Medicare costs will have on the Federal budget in the coming years, among many other examples” said Debra Lappin, president of Council for American Medical Innovation (CAMI). 

“Fortunately, innovations in the biomedical field have resulted in procedures, medicines and devices that not only improve patients’ health but significantly lower the cost of care. Unfortunately, such innovations require long term investments that are often eliminated in times of fiscal crisis. We are asking the deficit commissioners to consider the long term positive impact on the deficit of continued – and even increased – investment in medical and bioscience innovation today.”
CAMI strongly believes that to truly slow growth in health care spending, the nation needs to identify ways to better manage chronic disease – the biggest cost driver.  75 percent of what is spent on health care goes to treating chronic illnesses, and in Medicare and Medicaid, chronic disease treatment consumes 99 percent of what is spent. Developing treatments and drugs that help prevent, treat and possibly even cure chronic diseases will result in direct cost savings.
To develop those innovative treatments, however, requires investment today to enable the biomedical community to continue, and possibly even expand, its research.
“While we understand the tough choices the deficit commission will have to make in the coming months, CAMI and its partners urge the commissioners to weigh the tremendous long term cost benefit derived from policies that continue medical innovation investment today,” continued Lappin. “We welcome the opportunity to discuss this important issue with the commissioners as they develop their recommendations.”

 

Continue Learning about Medical Research

Early Stem Cell Study Offers Hope for Children With Autism
Early Stem Cell Study Offers Hope for Children With Autism
Autism, a developmental disorder that affects about one out of 68 U.S. children, typically involves communication and learning difficulties. It’s a sp...
Read More
Is orphan drug research a distraction from more important research?
Discovery HealthDiscovery Health
Conducting research to find treatments for rare diseases and finding cures for widespread epidemics ...
More Answers
Who can participate in clinical research?
Jumo HealthJumo Health
Who can participate in clinical research depends on what treatments the doctors are testing. People ...
More Answers
Is There a Way to Improve Vision with Special Exercises?
Is There a Way to Improve Vision with Special Exercises?

Important: This content reflects information from various individuals and organizations and may offer alternative or opposing points of view. It should not be used for medical advice, diagnosis or treatment. As always, you should consult with your healthcare provider about your specific health needs.