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Major evolutions in health care treatments are requiring policy makers and health care stakeholders to reshape and reconsider conventional insurance coverage and other policies to help ensure patients have access to the most cost-effective, efficacious treatments. At the same time, rising costs to patients and overall health care expenditures must also be part of the discussion.
The latest research shows that access to innovative medicines, preventative treatments and cures is proven to reduce the use of higher cost conventional health care services. Biopharma Facts for a Balanced Discussion provide information and data about the economics of medicines and their cost-saving role in the health care equation and help inform policy discussions related to breakthrough medications and the biopharma industry.
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Controlling Health Care Costs: Improved use of recommended medications is a major factor associated with reduced health care costs.
Medicines Should be a Cost-Effective Option: In the United States, patients are currently paying proportionately higher out-of-pocket costs for prescription medicines than they do for other medical services.
Specialty Tiered Pricing Keeps Innovative Treatments Out of Reach: Patients with serious chronic illnesses generally pay higher prescription costs because their medication is often placed on a "specialty drug" prescription tier.
The Value and Cost of Medical Miracles: California’s BioPharma companies are continually investing in new discoveries for medicines and devices that will revolutionize health care throughout the world.
Breakthrough Medications Save Money and Save Lives: Patients who adhere to their medication regimens enjoy greatly improved health outcomes and make less use of more costly health services such as emergency room and doctor's visits, hospitalizations and long-term care.
Innovative Drug Therapies Require Health Care Financing Solutions to Match: Just as insurance coverage has been able to spread the risks and costs of expensive services like hospitalizations, health benefits must evolve to improve and not be a barrier to patients accessing more cost-effective and medically beneficial treatment options.
California Biotech Company Investments in Research and Development Drive Medical Innovation: California's biotech companies and the University of California are leading the investments needed to develop the next wave of precision medicine that will revolutionize health care throughout the world.
With over 2,000 companies and almost 900 new medicines in the Research & Development pipeline. >>>
$72.8 billion in revenue in 2007. Of that, nearly 72% was spent on research. >>>
The key to future success is a highly-skilled and diversified work force. >>>