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Are The Benefits Of Newer Drugs Worth Their Cost? Evidence From The 1996 MEPS
Abstract
This study analyzes data on prescribed medicines from the 1996 Medical Expenditure Panel Survey (MEPS) to examine the association between the use of newer medicines and morbidity, mortality, and health spending. We find that people consuming newer drugs were significantly less likely to die by the end of the survey and were significantly less likely to experience work-loss days than were people consuming older drugs. Our most notable finding, however, is that use of newer drugs tends to lower all types of nondrug medical spending, resulting in a substantial net reduction in the total cost of treating a given condition.
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Citations
Cited by
Goldman, D. P., Joyce, G. F., & Zheng, Y. (2007) · JAMA · doi:10.1001/jama.298.1.61 · Cited by 874
The Value of Health and Longevity
Murphy, K. M., & Topel, R. H. (2006) · Journal of Political Economy · doi:10.1086/508033 · Cited by 605
Key factors in the rising cost of new drug discovery and development
Dickson, M., & Gagnon, J. P. (2004) · Nature Reviews Drug Discovery · doi:10.1038/nrd1382 · Cited by 498
The Health Effects of Restricting Prescription Medication Use Because of Cost
Heisler, M., Langa, K. M., Eby, E. L., Fendrick, A. M., Kabeto, M. U., & Piette, J. D. (2004) · Medical Care · doi:10.1097/01.mlr.0000129352.36733.cc · Cited by 317
Metadata
- Authors
- Lichtenberg, F. R.
- Venue
- Health Affairs
- Publisher
- Health Affairs Publishing, LLC
- Published
- 2001-09
- Volume
- 20
- Issue
- 5
- Pages
- 241-251
- ISSN
- 0278-2715 (ISSN-L)
- 1544-5208
- OpenAlex
- W2118608668
- Cited by
- 214
- References
- 0
- FWCI
- 51.01
- Type
- journal article
- Language
- en
- Open access
- closed
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- CoChat. (2026). Citation check: Are The Benefits Of Newer Drugs Worth Their Cost? Evidence From The 1996 MEPS. https://app.cochat.ai/papers/10.1377/hlthaff.20.5.241
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- Lichtenberg, F. R. (2001). Are The Benefits Of Newer Drugs Worth Their Cost? Evidence From The 1996 MEPS. Health Affairs. https://doi.org/10.1377/hlthaff.20.5.241
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
