Costs and Benefits of Pharmaceuticals: The Value Equation for Older Americans

Authors: Levy, RA.

Benefits from new pharmaceuticals far outweigh their costs for many key diseases of the elderly. Even incremental improvements in drug therapies contribute substantially to improved care. Chronic illness, disability, and an aging population will drive future health care spending, and pharmaceutical innovation will be an integral part of effective strategies to address this challenge.

The availability of individualized therapy for the elderly is continuing to increase and is expected to result in major advances in preventing, treating, and perhaps even curing many of the costly, life-threatening, and disabling diseases afflicting older Americans. But the adequacy of drug benefit programs for elderly patients depends on the extent to which the range of drug therapies necessary for appropriate care are covered.

Policies that foster the availability of unique pharmaceuticals can have important implications for treatment outcomes, quality of life, cost containment, and ongoing research investment in newer and more effective medicines. Such policies increase the diversity of agents within drug classes and thereby enable differentiated, individualized therapy. A wide range of choices is especially important for elderly patients, who have the greatest need for individualized care and are at greatest risk for compromised outcomes if choices are overly restricted.Due to copyright issues, this article is only available through the Care Management Journals website.