Aside from saving and improving lives, innovation has also proven to save money
Innovation: Reduces Costs
The Triple Solution for a Healthier America is a three-part approach to tackle chronic diseases, promote a healthier life, and lower healthcare costs by focusing on Prevention, Intervention, and Innovation.

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The Triple Solution for a Healthier America: Using Prevention to reduce chronic disease, promote a healthier life, and lower healthcare costs of diabetes and other chronic diseases The Triple Solution for a Healthier America: Using Intervention to better manage chronic diseases like type 2 diabetes, promote a healthier life, and lower healthcare costs. The Triple Solution for a Healthier America: Using Innovation to reduce chronic disease and lower healthcare costs. Learn what you can do to reduce chronic disease, lower healthcare costs, and live a healthier life through personal, professional, and political involvement with the Triple Solution for a Healthier America.

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Innovation Reduces Costs

Aside from saving and improving lives, innovation has also proven to save money.

  • For every $1 spent on newer medicines in place of older ones, total healthcare spending is reduced by $6.17.1*

Learn more about the importance of preserving an environment that rewards and encourages continued innovation.

* 5.5 years from FDA approval vs. 15 years.
** Health gains defined as an additional life year gained or additional quality-adjusted life year.

References:

  1. Shaw B. Take your medicine! The PBS, productivity and future prosperity. Sustaining Prosperity Conference, Melbourne. April 1, 2005.
  2. Hill JW, Futterman R, Mastey V, Fillit H. The effect of donepezil therapy on health costs in a managed care plan. Managed Care Interface. 2002 Mar;15(3):63-70.
  3. Medtap International. The Value of Investment in Healthcare: Better Care, Better Lives. American Hospital Association Web site. Available at http://www.aha.org/aha/content/2004/pdf/Value_Report.pdf. Accessed October 6, 2010.