Ongoing medical progress means, among other things, better treatment options, longer life expectancy and improved quality of life despite existing illnesses. Improving, restoring and maintaining health also has a social and economic impact. For example, a higher quality of life enables chronically ill people to continue working, to pursue their daily activities and thus to maintain their independence. However, these effects are often not immediately apparent and quantifiable.
With our analyses, we would therefore like to measure not only the effects on the health of the individual, but also the social and economic effects of medical innovations and thus spotlight a new perspective on the significance of medical progress.
Based on validated results of clinical studies on the benefits of medical innovations for an appropriate patient population, we quantified the productivity and value-creation potential resulting from these benefits. Our models are based on clinical studies, data from patient surveys, and official statistics on employment, productivity, and national accounts.
In addition to employment, we also consider the value-creation potential resulting from the effects on unpaid work, such as housekeeping or nursing activities.
In our analyses, we work with valid statistical methods and rely on current research results from health economics and medicine.
With the “Social Impact of Medical Innovations”, we measure the benefits to society in terms of health, productivity and value creation.