Cost savings

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Translational Science Benefits

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Clinical

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Community

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Economic

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Policy

Economic benefits (Financial savings & benefits)

Definition

Reduced financial costs of services or goods to providers or consumers. Examples of healthcare cost savings include generic drugs, at-home testing kits, or advances in surgery techniques or equipment that allow procedures to be done at outpatient facilities.

Rationale

Cost savings for patients, medical professionals and scientists from scientific research constitute direct benefits that are measurable through comparing costs of newly developed and established drugs, procedures, and other interventions. For example, less expensive but equally effective drugs developed through translational science lower purchase costs for patients and decrease disparities in access to care.

Guidance

Advice from authors on searching for information:

Consult the website of pertinent organizations for analyses related to changes in costs for treatment or prevention of a disease, disorder, or condition. Also, look to specific health care institutions for reports of incorporating effective cost savings strategies into policies and practices.

Resources & Data

Organizations, repositories, websites, and other sources where you can find more information:

Data Limitations

Challenges you may encounter while searching for information:

Cost savings is a broad topic. In general, savings is an additive benefit from progress in clinical and translational science, such as the other indicators featured here. Cost savings could be cited in reports of new drugs, procedures, and programs.

Publications

Articles, books, and other publications in translational science using the benefit:

Case Studies

Advancing Equitable Caregiver Support Through Peer Navigation

By ICTS and Washington University in St. Louis

Improving caregiver well-being through scalable, personalized support from trained former caregivers

Community & public health benefits

Economic benefits

Policy & legislative benefits

Clinicians reviewing MRI scan of brain

Refining Multiple Sclerosis Severity Detection with MRI

By ICTS and Washington University in St. Louis

Improving how we measure the severity of multiple sclerosis using a new MRI method to better match disease severity with patients’ symptoms

Clinical & medical benefits

Community & public health benefits

Economic benefits

Guiding Healthcare Workers and Governments on Treating Any Child with Cancer, Anywhere.

By St. Jude Global

The ARIA Guide provides cancer management guidelines for a range of geographic and resource-diverse settings, freely available to healthcare providers worldwide through the ARIA Guide web portal

Clinical & medical benefits

Community & public health benefits

Economic benefits

Policy & legislative benefits