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Nov 24, 2024
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Health Policy
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Health Policy
The Medical Innovation Act of 2022 is a proposed policy. It aims to encourage further breakthroughs in medical research and practice by rewarding the creation of novel therapeutics that enhance patient outcomes. Its goal is to make improved medical care more accessible while mitigating the effects of growing medical expenses.
The availability of health care is a social health factor intended to be addressed by the Medical Innovation Act of 2022. Those without ready access to medical treatment are statistically more likely to have worse health outcomes than their counterparts who do have such access (Milstead, & Short, 2019). Those with lesser incomes and members of underrepresented groups already have less access to medical care than those in the majority population.
There is solid evidence in favor of the Medical Innovation Act of 2022. According to Kilbourne et al. (2018), incentives for medical innovation might assist in lowering costs and making treatments more accessible to people as medical expenditures continue to rise. The strategy could increase economic activity by creating new medical-related employment opportunities.
Many studies have shown that financial incentives for medical innovation may improve patient outcomes, providing a solid foundation for the suggested strategy (National Institutes of Health, 2020). For instance, increased survival rates and enhanced quality of life for cancer patients were among the positive patient outcomes associated with incentives for developing novel medicines, according to recent research by the National Institutes of Health (2020). World Health Organization research also shows that financial incentives for medical innovation may lower treatment costs, increasing availability to those from lower socioeconomic backgrounds (WHO, 2023).
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In conclusion, the Medical Innovation Act of 2022 can increase treatment quality, therefore reducing health disparities among disadvantaged groups. A substantial body of research
favouring this approach shows that financial incentives for medical innovation may improve health outcomes, lower healthcare costs, and expand access to quality medical treatment.
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References
Kilbourne, A. M., Beck, K., Spaeth-Rublee, B., Ramanuj, P., O’Brien, R. W., Tomoyasu, N., & Pincus, H. A. (2018). Measuring and improving the quality of mental health care: a global
perspective. World Psychiatry
, 17
(1), 30–38. https://doi.org/10.1002/wps.20482
WHO. (2023). WHO at the 67th Commission on the Status of Women: Improving women’s health
outcomes through technology and digital innovations
. Www.who.int. https://www.who.int/news/item/17-03-2023-who-at-the-67th-commission-on-the-status-
of-women--improving-women-s-health-outcomes-through-technology-and-digital-
innovations
Milstead, J. A., & Short, N. M. (2019). Health policy and politics: A nurse's guide
(6th ed.). Jones & Bartlett Learning.
National Institutes of Health. (2020, August 12). New treatments spur a sharp reduction in lung cancer mortality rate
. National Institutes of Health (NIH). https://www.nih.gov/news-
events/news-releases/new-treatments-spur-sharp-reduction-lung-cancer-mortality-rate