Search
 
Analysis

Over-the-counter drugs have a billion-dollar impact on the bottom line

For every dollar spent on OTC medicines, an average of $7.20 is saved by the U.S. health care system.

An estimated 13 million Americans treating allergies with OTC meds would go without treatment if they had no nonprescription options to turn to. (Photo: Shutterstock)

The U.S. health care system should be very grateful for over-the-counter medications, according to a new study—because those meds save the system nearly $146 billion—that’s billion with a “b”—every year.

The Value of OTC Medicines to the U.S. Health Care System joint study, from IRI and the Consumer Health Products Association, finds that for every dollar spent on OTC medicines, an average of $7.20 is saved by the U.S. health care system. The study arrived at those numbers by considering “direct and indirect savings, driven by access to self-treatment and substitution of OTC products for prescription drugs,” the report says.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Marlene Satter

Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

More from this author

Recommended Stories

BenefitsPRO Broker Expo 2024Event

The premier educational and networking event for employee benefits brokers and agents.

Get More Information
 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.