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Drugs: The Key to Modern Medicine

In: Who Shall Live? Health, Economics and Social Choice

Author

Listed:
  • VICTOR R. FUCHS
  • KAREN EGGLESTON

Abstract

Drugs are the key to modern medicine. Surgery, radiotherapy, and diagnostic tests are all important, but the ability of health care providers to alter health outcomes — Dr. Walsh McDermott’s “decisive technology” — depends primarily on drugs. Six dollars are spent on hospitals and physicians for every dollar spent on drugs, but without drugs the effectiveness of hospitals and physicians would be enormously diminished…

Suggested Citation

  • Victor R. Fuchs & Karen Eggleston, 2023. "Drugs: The Key to Modern Medicine," World Scientific Book Chapters, in: Who Shall Live? Health, Economics and Social Choice, chapter 6, pages 95-113, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811268519_0006
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    More about this item

    Keywords

    Health; Economics; Health Economics; Health Care; Health Policy; Medicine; Medical Care; Health Systems; Health Insurance; Pandemic; COVID-19; ACA; Obamacare; Health Expenditures; Health Care Spending; Health Care Utilization; Health Outcomes; Life Expectancy; Mortality; Social Choice; Innovation; Personalized Medicine; Opioids; Opioid Epidemic; Deaths of Despair; Health Disparities; Social Determinants of Health; Hospitals; Doctors; Physicians; Patients; Polarization; Partisan Politics; Values; Inflation; Poverty ;
    All these keywords.

    JEL classification:

    • I1 - Health, Education, and Welfare - - Health
    • I13 - Health, Education, and Welfare - - Health - - - Health Insurance, Public and Private
    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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