On the value of research in health care

This paper describes 3 important myths that reduce the political impact of academic research in healthcare and reviews data on the social return of such research. The myths are (i) scientists' interest in pursuing issues without concern for value to society; (ii) industry and private investors should fund more of society's basic research; (iii) Academic research can be improved by better administration. A recent study on return on investment in academic research in general is discussed as well as more specific studies on research related to healthcare. Examples include the BCG and Polio vaccines that today saves Norway more in healthcare costs than the entire public bill for drugs. Some factors that explain why research is undervalued are reviewed, notably rapid changes making benchmarking difficult, insufficient routines in accounting, changing goals, and unpredictable outcomes.