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:9/21/2017)... ... September 21, 2017 , ... In ... and Clark College Emeritus Professor of Education Gregory A. Smith examines student privacy ... Asleep at the Switch: Schoolhouse Commercialism, Privacy, and the Failure of Policymaking . ...
(Date:9/20/2017)... CHARLOTTE, NC (PRWEB) , ... September 20, 2017 ... ... for Transformation and Centers of Excellence (CoE) with the latest Artificial Intelligence (AI) ... newly designed presence offers quick and easy access to essential information that offers ...
(Date:9/20/2017)... , ... September 20, 2017 , ... ... one of the Best Places to Work in the Research Triangle for 2017. ... Once nominated, a company had to meet a threshold in employee participation--a percentage ...
(Date:9/20/2017)... ... September 20, 2017 , ... Doctors on Liens has added ... network of medical professionals working on a personal injury lien basis. Founded by Dr. ... brings these esteemed doctors’ vast experience with orthopedic injuries to patients in the Inland ...
(Date:9/20/2017)... ... 20, 2017 , ... Mirror Mirror Beauty Boutique is excited ... This Autumn with CoolSculpting®. Scheduled for Thursday, September 28th, the afternoon will include ... Beauty Boutique is Houston’s largest CoolSculpting provider, holding the prestigious title ...
Breaking Medicine News(10 mins):
(Date:9/7/2017)... , Sept. 7, 2017 Caris Life ... on fulfilling the promise of precision medicine, today ... the benefits of its molecular profiling approach in ... comprehensive genomic profiling plus (CGP+) with Caris Molecular ... tumor on a molecular level, leading to more ...
(Date:9/7/2017)... Ind. , Sept. 7, 2017  Zimmer Biomet ... in musculoskeletal healthcare, today announced that it will be ... Global Healthcare Conference at the Grand Hyatt hotel in ... 11, 2017 at 11:40 a.m. Eastern Time. ... via Zimmer Biomet,s Investor Relations website at http://investor.zimmerbiomet.com ...
(Date:9/6/2017)... , Sept. 6, 2017  Robert G. Szewc, M.D., ... Professional Member in recognition of his contributions to the ... as a Nephrologist at the practice of Kidney and ... kidney care and hypertension solutions. He has worked in ... of career experience, as well as expertise in kidneys, ...
Breaking Medicine Technology:
Cached News: