Study claims biologics won't boost health costs
A new study sponsored by the Biotechnology Industry Organization (BIO) insists that new drugs and biologics will have a minor impact on total healthcare expenditures over the next five years.
A new study sponsored by the Biotechnology Industry Organization (BIO) insists that new drugs and biologics will have a minor impact on total healthcare expenditures over the next five years. According to the study, biotechnology and other innovative drug therapies constituted 5% of total healthcare costs in 2006. The study estimates that share will rise to 6% by 2011. That rise in costs would translate into an additional $5 per member per month in claims costs. The study reported that nondrug costs make up 86% of total healthcare expenses. Commissioned by the biotechnology trade group BIO, the study was conducted by Milliman, Inc., an actuarial firm.
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