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The New Jersey Life Sciences Vendors Alliance (NJLSVA) is a coalition of businesses, individuals and academia who provide goods and services to New Jersey’s life sciences companies.

The NJLSVA was founded to educate suppliers on trends in industry procurement and public policy that affects the life sciences industry.

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Choose New Jersey’s RFP Watch provides up-to-date information on business opportunities throughout the Garden State at a cost that is affordable for all companies – with a place of business in New Jersey – large and small.

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Study: Wiser Medication Use Could Save U.S. $213B a Year in Avoidable Health Care Costs

Washington, NJ, June 20, 2013The Washington Post reported that if doctors and patients used prescription drugs more wisely, they could save the U.S. health care system at least $213 billion a year, by reducing medication overuse, underuse and other flaws in care that cause complications and longer, more-expensive treatments, researchers conclude.

The new findings by the IMS Institute for Healthcare Informatics improve on numerous prior efforts to quantify the dollars wasted on health care.

The Post reported that the institute, part of data analysis and consulting firm IMS Health, used its proprietary data on prescriptions written by doctors — many of which patients never fill — plus other information to produce a current, more reliable estimate of avoidable costs solely related to medication use.

According to the Post, IMS arrived at the $213 billion figure based on six categories in which doctors, patients or both could be making better use of medication, from getting a prompt diagnosis when new symptoms arise to taking medicines as directed by the doctor.

Across the six categories, the researchers generally focused on spending on a handful of very common or very expensive diseases — from high cholesterol and blood pressure to HIV and diabetes — for which costs of care and complications are well documented.

For the complete Washington Post story, click here.