Reducing ill-health and making better use of health innovations could add billions to economic growth in the UK, a new report reveals today.
‘Defining the Size of the Health Innovation Prize’ was commissioned by Advanced Oxford member Health Innovation Oxford and Thames Valley, and produced by Frontier Economics.
Key findings from the report include:
- a £114bn opportunity from targeted improvements in cardiovascular, mental health, musculoskeletal and respiratory conditions.
- £8.55bn in NHS productivity gains through reduced health-related workforce absences, addressing 233 million hours lost each year.
“This independent report demonstrates the potential of health innovation to deliver better outcomes for patients, reduce pressure on the NHS, improve productivity and boost the economy.” – Professor Gary Ford, Chief Executive of Health Innovation Oxford and Thames Valley
Read the full report here.
