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:5/26/2020)... ... May 26, 2020 , ... Sex educator, activist, humanitarian, and ... Joan Price have just received the 2020 AASECT Audio Visual Award for jessica drake's ... the first of its kind to feature non-actors in its demonstrations and narratives and ...
(Date:5/21/2020)... ... May 21, 2020 , ... ... Guide to Coordinating Clinical Research, CenterWatch eLearning , https://www.centerwatch.com/products/category/2764-elearning/product/472-the-crc-trainer , ... Trainer: An Interactive Companion to the CRC’s Guide to Coordinating Clinical Research ...
(Date:5/21/2020)... ... 2020 , ... Fujirebio Diagnostics, Inc., a consolidated subsidiary of ... that Cigna has added ROMA® (Risk of Ovarian Malignancy Algorithm) to its national ... improving the health, well-being, and peace of mind of the customers they serve. ...
(Date:5/21/2020)... KENNESAW, Ga. (PRWEB) , ... May 21, 2020 , ... ... Representatives District 35, has been endorsed by Planned Parenthood Southeast Advocates (PPSEA). ... candidates who support family planning and the full range of reproductive health care. PPSEA ...
(Date:5/21/2020)... ... May 21, 2020 , ... The Rise of Mental Health and Substance ... of complications and adjustments, needless to say, more complications. With rising deaths, more confirmed ... depression it can be hard to escape and find peace. Adding to these persistent ...
Breaking Medicine News(10 mins):
(Date:5/30/2020)... ... May 29, 2020 , ... Gateway for ... research, is excited to announce the launch of a new grant program to ... care. , The COVID-19 pandemic has resulted in significant disruption to clinical ...
(Date:5/30/2020)... ... May 30, 2020 , ... Pregnancy ... host of new issues related to COVID-19. Recently, Wellness Expert Jamie Hess teamed ... moms support their pregnancy and postpartum. , A video accompanying this announcement ...
(Date:5/28/2020)... N.J. (PRWEB) , ... May 28, 2020 , ... ... heart, lung, and vascular hospital, and an Alliance member of the Cleveland Clinic ... for patients diagnosed with chronic obstructive pulmonary disease (COPD). , COPD is a ...
Breaking Medicine Technology:
Cached News: