DrMcPharma ep. 27: Biomedical Investment: Health, Life, and Economic Returns
Description
Investment in biomedical science in the United States, particularly through federal funding via the National Institutes of Health (NIH), offers significant advantages for both public health and the economy. This funding generates substantial economic activity and supports numerous jobs across the nation, while also leading to improved health outcomes, increased life expectancy, and a reduction in disease burden through breakthroughs in prevention, diagnosis, and treatment. The methods used to quantify these returns, such as economic impact modelling and health metrics like Quality-Adjusted Life Years (QALYs), acknowledges the inherent challenges in measuring such complex and long-term impacts, including difficulties in attribution and data collection, alongside ethical considerations in valuation. Ultimately, the sustained investment into biomedical science is crucial for national well-being and economic competitiveness.
United States
