What is the value of research?
If you think research is expensive, try disease - Mary Lasker, prominent US medical scientist and philanthropist
Research has resulted in significant improvements both in terms of life expectancy and quality of life, across a range of health areas, including heart problems, infection and mental health.
According to the Australian Society for Medical Research, investment in health research is the highest source of rising living standards today:
|
Our 8-year (11.5%) gain in life expectancy as well as improved wellness over 1960-99 were worth $5.4 trillion to Australians – a figure more than 8 times larger than the entire national output last year. The gains associated with the prevention and treatment of cardiovascular disease alone totalled $1.7 trillion. Improvements in lifespan account for almost half of the actual gain in Australian living standards in the past 40 years (46% of consumption). Health R&D that further reduced cancer deaths by just 20% would be worth $184billion to Australians, more than the entire annual Commonwealth spending budget. (Exceptional Returns the Value of Investing in Health and R&D in Australia, prepared for the Australian Society for Medical Research, by Canberra September 2003). |
The Society’s paper estimates that half the gains in health are attributable to global health research and development, and concluded that annual rates of return to Australian health research and development were up to $5 for every $1 spent.
“Continued boosts to investment in health research and development relative to GDP are still warranted given Australia’s poor ranking relative to other OECD countries,” the report states.
“In the coming decades, the effects of demographic ageing will place unprecedented demands on the Australian health system in particular in relation to chronic conditions of ageing such as dementia, arthritis, cardiovascular disease and cancer. The projected direct and indirect costs of chronic illness are forecast to present a challenging burden whose greatest hope is new research and development discoveries.”
“This report has shown that every dollar invested in this challenge in Australia has historically been recouped as highly valued health span, even in the worst case scenario, and in most cases, many times over. The findings of this paper should change the way that Australian policy makers view health spending, in particular investments in health R&D. The conclusion for the future must be that Australian health R&D represents an exceptional investment, with exceptional returns.”
Research specifically in the area of work disability is about reducing suffering, improving quality of life, and reducing the associated financial burden on the individual, the employer, and the community.
Though research is a labour intensive and lengthy process, and is an area in which gains are incremental rather than taking the form of major breakthroughs, even incremental gains can have a substantial impact.
Research requires us to take a long term view, looking five to ten years ahead.
That change will not occur rapidly can be a deterrent in this area, where financial and political pressures cause individuals and policy makers to seek short term solutions. However, sustained improvements will only come from quality understanding of the issues, sound assessment of relevant treatments and interventions, and a high level of focus on implementing best practice management.
Dollars spent on research are dollars spent on better understanding negative and positive effects upon our health; and this is our most important asset.