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:
TAG: One percent reduction cancer mortality would worth nearly billion

(Date:7/24/2014)... 2014 A few weeks have passed ... incredible high jump by Inika McPherson is a feat ... the USATF National Championships hosted the best track and ... McPherson, won US Nationals with the 2nd best jump ... for the biggest height over head jump in history. ...
(Date:7/24/2014)... 2014 Voted one of the most ... clients, BellasDress focuses on providing its new and old ... Recently, the company has announced its new collection of ... range is created according to the latest fashion trends. ... to 68% off. , As a matter of fact, ...
(Date:7/24/2014)... July 24, 2014 The federal ... ) in the U.S. District Court, District ... for plaintiff medical information covered by the federal ... the July 16th Order, U.S. District Judge Douglas ... Fresenius Medical Care the right to receive HIPAA- ...
(Date:7/24/2014)... (PRWEB) July 24, 2014 CarePoint ... specialist in hematology and oncology, Dr. Hitendra Upadhyaya, ... Our system welcomes Dr. Upadhyaya to the community. ... CarePoint Health Medical Group, a comprehensive network of ... a wide range of specialties. This latest acquisition ...
(Date:7/24/2014)... BUFFALO, N.Y. Primary care treatment of overweight and ... and child compared to when only the child is ... Pediatrics and conducted at the University at Buffalo ... in this study were overweight or obese and had ... was overweight or obese, according to body mass index ...
Breaking Medicine News(10 mins):Health News:Setting A New High Jump World Record In Zensah® Compression 2Health News:Setting A New High Jump World Record In Zensah® Compression 3Health News:BellasDress Helps Brides Get High End Wedding Dresses for Their Romantic Weddings 2Health News:GranuFlo Lawsuits Move Forward in Federal Court, With Issuance of Protective Order for HIPAA Information, Bernstein Liebhard LLP Reports 2Health News:GranuFlo Lawsuits Move Forward in Federal Court, With Issuance of Protective Order for HIPAA Information, Bernstein Liebhard LLP Reports 3Health News:GranuFlo Lawsuits Move Forward in Federal Court, With Issuance of Protective Order for HIPAA Information, Bernstein Liebhard LLP Reports 4Health News:Dr. Upadhyaya Joins CarePoint Health Medical Group 2Health News:Overweight and obese preschoolers lose more weight when parent is also treated 2Health News:Overweight and obese preschoolers lose more weight when parent is also treated 3
(Date:7/24/2014)... , July 24, 2014  Alimera Sciences, Inc. ... that specializes in the research, development and commercialization of ... its second quarter of fiscal year 2014 financial results ... An investor conference call will follow on the same ... conference call will be hosted by Dan Myers ...
(Date:7/24/2014)... -- Talyst, a market leader in pharmacy automation, will ... Veterans Homes (NASVH) Summer Conference in Charleston, ... is to ensure that each and every eligible US ... and respect which they have earned by their service ... Dispensing System, Talyst can help State Veterans Homes increase ...
(Date:7/24/2014)... 2014 Consolidated Net Profit increased by 43.65 ...   , India Business grew by 20.87% to Rs. ... 4,886.70 Mn Rest of World (ROW) Business grew by ... by 34.53% to Rs. 977.26 Mn Latin America Business ... Glenmark Pharmaceuticals Limited, the research-led global integrated pharmaceutical company, today ...
Breaking Medicine Technology:Alimera Sciences To Release Second Quarter 2014 Results 2Talyst Exhibits at the National Association of State Veterans Homes Summer Conference 2Glenmark's Consolidated Revenue Increases by 20.08% to Rs. 14,869.40 Mn for Q1 FY 14 - 15 2Glenmark's Consolidated Revenue Increases by 20.08% to Rs. 14,869.40 Mn for Q1 FY 14 - 15 3Glenmark's Consolidated Revenue Increases by 20.08% to Rs. 14,869.40 Mn for Q1 FY 14 - 15 4
Cached News: