14 DAY TRIAL // According to Research!America's latest annual estimate, the United States invested $139 billion last year in health research, accounting for all public and private sources.
This might seem like a lot of money but the amount is actually only 5.6% of the $2.47 trillion overall US health expenses in 2009 (you could also see it like the 5.6¢ of every health dollar), which is only 0.2% more than the 2005 level and 0.1% more than the 2008 investments.
Even if the increase is rather very small, it remains an increase, which is a good thing, and this is due to the federal stimulus funding for research, established through the American Recovery and Reinvestment Act of 2009.
In 2009, the overall amount of the federal research investment was of almost $46.8 billion, rising from the $38.6 billion a year before.
Former Congressman John Edward Porter, Research!America's chair, said that “America's economic destiny lies in innovation, but other countries are stepping up, investing more and thus challenging our lead.
“We need to invest in our federal research agencies for the long term.
“Our economic competitiveness and our future standard of living depend on it.”
The health research budget is also influenced by the effects of the economic recession in all sectors that receive funding, where investment has basically stagnated or declined in 2009.
“We need to make the research and development tax credit permanent as an incentive to the private research enterprise, which builds upon the essential work of our federal research agencies,” said Mary Woolley, president and CEO of Research!America.
“We need this and other incentives and investments to support the full pipeline of research, so research can get the job done and deliver on its promise of treating, curing and preventing disease, as well as raising health care quality and lowering cost.”
Research!America was founded in 1989 and it is supported by member organizations representing 125 million Americans.