Using nonprescription, or over-the-counter (OTC), medicines to treat the symptoms of the common cold and flu could save $4.75 billion a year, according to a new study conducted by researchers from Northwestern University.
The study, sponsored by the Consumer Healthcare Products Association, demonstrated that most of the savings from taking over-the-counter medicines result from improving work productivity, reducing unnecessary physician visits, and taking prescription drugs only when appropriate.
The common cold is a leading cause of missed workdays and decreased productivity, resulting in an average loss of 8.7 work hours per cold. The economic impact of this lost productivity is estimated at $25 billion, with $16.6 billion attributed to on-the-job productivity loss.
"By alleviating symptoms, OTCs keep people more productive and reduce physician visits, without compromising health outcomes," said study economist Dr. Teresa Waters, associate director for research at the University of Tennessee's Center for Health Services Research. "This may be the first study to clearly demonstrate these benefits from the use of nonprescription medicines."
The study calculated the potential cost savings of using OTCs to treat upper respiratory infections (URIs), including symptoms from the common cold and flu, against the costs of not using these OTCs. The Northwestern researchers found an average cost savings of $9 per URI among adults using OTCs to treat their symptoms. With an average of three URIs per year among Americans age 18 to 65, this translates into potential annual savings of $4.75 billion to the health care system and economy.
"Many factors involved in the treatment of common upper respiratory infections contribute to a major economic burden," said Dr. Martin Lipsky, the study's lead investigator and a professor of family medicine at the Feinberg School of Medicine at Northwestern University. "It's important for people to understand the signs and symptoms of these common conditions and to know that many nonprescription products are available to treat symptoms at a fairly low cost." - NU
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