How medical technology can help reduce the cost of ill health to the UK economy – November 2017
In November 2017, The Medical Technology Group launched its second major study, ‘Keeping Britain Working – How medical technology can help reduce the cost of ill health to the UK economy’.
Building on the Work Foundation’s 2011 study and launching in the House of Commons, the report explores the societal and economic impact of eight technologies: hip replacements; implantable cardiac defibrillators (ICDs); insulin pumps; diagnostics, including sepsis; fibroid embolisation; pain management; wound care; and coronary angioplasty.
The report concludes that £476 million in savings per year could be generated in reduced long-term health costs and benefit payments from the use of these eight technologies alone. If that money was put back into the NHS it would pay for 20,000 nurses or 10.5 million GP visits.
