Responsible Use of Medicines Report 2012
The IMS Institute for Healthcare Informatics has identified an opportunity to save a half trillion dollars in annual global health spending through the responsible use of medicines.
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The IMS Institute for Healthcare Informatics has identified an opportunity to save a half trillion dollars in annual global health spending through the responsible use of medicines. Our report findings demonstrate that responsible medicine use not only improves health outcomes, but also optimizes overall healthcare spending through the prevention and/or delay of costlier and more severe conditions. When medicine policy is isolated and does not reflect the role of medicines as an integral part of the health system, efforts to contain costs across the overall health system become counterproductive. In today’s economic climate, this should be a top health policy priority, given both the positive impact on overall spending and the resulting improvement in health outcomes.
News & Media Coverage
- Press Release: IMS Health Study Identifies Six Critical Levers to Improve Medicine Use and Avoid $500 Billion in Unnecessary Annual Healthcare Spending
- Healthcare Payer News: Health IT Could Help With Medication Adherence, Saving Billions, Study Finds
- Fierce Health IT: 6 Ways To Improve Safety Of Medication Administration And Delivery
- Healthcare Technology Magazine: Study Identifies Six Critical Levers to Improve Medicine Use and Avoid $500 Billion in Unnecessary Annual Healthcare Spending
There are six levers that can be applied to realize the half trillion dollar avoidable cost opportunity identified in the Responsible Use of Medicines report
Executive Director Murray Aitken discusses the research approach used from a study on the Responsible Use of Medicines prepared for a Health Ministers summit in October 2012 organized by the Dutch Ministry of Health.
Across middle and high income countries, medicine spending is less than a quarter of total health spending while growth rates are comparable
- Total health expenditures are rising more rapidly than incomes across high-, middle-, and low income countries.
- Across high- and middle-income OECD countries, health spending per capita has surpassed economic growth since 2000.
- Global spending on medicines is predicted to reach nearly 1.2Tn USD by 2016.
- Trends over the last decade reveal the rise in health spending combined with the inherent link between medicine use and overall health.
About $500Bn dollars may be avoided through better responsible medicine use
- This research estimates that about 8% of total health expenditure, or about 500Bn USD per year globally, can be avoided with optimized use of medicines.
- Research implies that the better use of medicines can significantly improve quality of life through reduced hospitalizations and improved health outcomes such as morbidity and mortality.
- Patient's ability to live longer and enjoy better quality of life contributes to a country's overall well-being and economic productivity.
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