HOME >> MEDICINE >> NEWS
One percent reduction in cancer mortality would be worth nearly $500 billion

Even a modest one percent reduction in mortality from cancer would be worth nearly $500 billion in social value, according to a new study by economists Kevin Murphy and Robert Topel of the University of Chicago Graduate School of Business.

Finding a cure for cancer would be worth about $50 trillion, according to the study presented today (Tuesday, April 4) at the annual conference of the American Association for Cancer Research in Washington, DC.

Social value of improved health and longevity is the amount in dollars that additional life years or other health improvements are worth to people, the report said. The value of improved longevity is based on what individuals gain from the enjoyment of consumption and time during an additional year of life, rather than how much they earn.

"Since the benefits of cancer research are large, substantially greater research expenditures would be worthwhile," Murphy and Topel wrote. "A war on cancer that would spend an additional $100 billion on research and treatment may be worthwhile even if it had a one-in-five chance of reducing mortality by just one percent," they said.

During the 20th century, average life expectancy of Americans increased by 30 years, due in large part to medical advances against major diseases, according to the new study by Murphy and Topel titled "The Value of Health and Longevity," to be published in the Journal of Political Economy.

The authors estimate that this increase in life expectancy is worth more than $1.2 million for each American alive today.

From 1970 to 2000, gains in life expectancy added about $3.2 trillion per year to national wealth, the study found.

Increased spending on medical research and cost containment are complementary goals, the report said. "If there is effective cost-containment via cost-effective research spending, then the value of research rises dramatically."

"Ideally, enhanced research funding would be
'"/>

Contact: William Harms
w-harms@uchicago.edu
773-702-8356
University of Chicago
4-Apr-2006


Page: 1 2

Related medicine news :

1. Stomach cancer rate set to fall further 25 percent over next decade
2. Sleep apnea increases risk of heart attack or death by 30 percent
3. Childhood immunization against pneumonia cuts hospital admissions by almost 40 percent
4. Hospital errors rise 3 percent -- HealthGrades patient-safety study
5. Chronic pain up almost 40 percent among US workers in past decade
6. Annual study finds top hospitals have 28 percent lower mortality rate
7. 100 percent juices found as beneficial to health as fruits and vegetables
8. UGA study finds that caffeine cuts post-workout pain by nearly 50 percent
9. Pakistani women 30 percent more likely to be blind than men
10. Mets have 60 percent chance of winning league championship series, says Bukiet at NJIT
11. Study calls for 39 percent more family physicians

Post Your Comments:
*Name:
*Comment:
*Email:


(Date:4/29/2016)... STAMFORD, CONNECTICUT (PRWEB) , ... April 29, 2016 , ... ... 5K Run/Walk” at Cove Island Park on Sunday, with sunny skies, a light breeze ... event, raising nearly $33,000. , The 5k Run and Walk and 1-mile ...
(Date:4/29/2016)... (PRWEB) , ... April 29, 2016 , ... ... surgeon reveals that infants born with severe congenital diaphragmatic hernia have better survival ... born with congenital diaphragmatic hernia (CDH)—a condition where the diaphragm fails to form ...
(Date:4/29/2016)... ... April 29, 2016 , ... ... won the $30,000 Perlman Grand Prize of the 2016 Wharton Business Plan ... the Michelson People’s Choice Award, and the Committee Award for Most ‘Wow Factor,’ ...
(Date:4/29/2016)... New York, NY (PRWEB) , ... April 29, ... ... integrated manufacturer and engineer of patented products, announces the Gyrociser, an exercise invention ... industry is worth $2 billion," says Scott Cooper, CEO and Creative Director of ...
(Date:4/29/2016)... Tarzana, CA (PRWEB) , ... April 29, 2016 , ... Melanoma is the deadliest type ... is to blame for the majority of skin cancer deaths. More than 10,000 people are ... average age at diagnosis is 62, it is the one of the most commonly diagnosed ...
Breaking Medicine News(10 mins):
(Date:4/28/2016)... TapImmune,Inc. (TPIV), a clinical-stage ... gene-based immunotherapeutics and vaccines for the treatment of cancer & ... 3rd Annual Growth Capital Expo to be held ... Caesars Palace in Las Vegas, Nevada.  The Company presentation ... th by Dr. John N. Bonfiglio a ...
(Date:4/27/2016)... , le 27 Avril 2016 ... d,affaires a progressé de +5% sur le trimestre, ... récurrentes de consommables  Croissance de +16% ... Mauna Kea Technologies (Euronext : MKEA, ... d,endomicroscopie confocale laser, annonce aujourd,hui son chiffre d,affaires ...
(Date:4/27/2016)...   Zillion Group today announced the ... which specializes in live video consultation. Turning content, ... Zillion enables companies to realize the true potential ... control of their health. Zillion,s ... one-to-one, group and webcast scheduled or on-demand – ...
Breaking Medicine Technology:
Cached News: