05.01.19
On average, each dollar spent on OTC medicines saves the US health care system approximately $7.20, totaling nearly $146 billion in annual savings, according to a newly released joint study conducted by IRI and the Consumer Health Products Association (CHPA).
The study, “Value of OTC Medicines to the U.S. Health Care System,” quantifies the savings value over-the-counter medicine and products afford the US health care system and patients each year. According to the study, 61% of the total OTC savings from drug costs, or the price difference between the OTC products and their prescription counterparts, are driven by OTC products treating three ailment categories—medicated skin, lower GI and upper GI.
Also, $7.7 billion in costs for treatment and testing are avoided each year through the use of OTC medical devices, including products for pain relief, foot comfort and care, heat/ice packs, muscle stimulators and asthma inhalers.
The study, “Value of OTC Medicines to the U.S. Health Care System,” quantifies the savings value over-the-counter medicine and products afford the US health care system and patients each year. According to the study, 61% of the total OTC savings from drug costs, or the price difference between the OTC products and their prescription counterparts, are driven by OTC products treating three ailment categories—medicated skin, lower GI and upper GI.
Also, $7.7 billion in costs for treatment and testing are avoided each year through the use of OTC medical devices, including products for pain relief, foot comfort and care, heat/ice packs, muscle stimulators and asthma inhalers.