A macroeconomic assessment of the impact of medical research expenditure: A case study of NIHR Biomedical Research Centres.

ABSTRACT: Quantifying the value of investment in medical research can inform decision-making on the prioritisation of research programmes. Existing methodologies to estimate the rate of return of medical research are inappropriate for early-phase translational research due to censoring of health benefits and time lags. A strategy to improve the process of translational research for patient benefit has been initiated as part of the UK National Institute for Health Research (NIHR) investment in Biomedical Research Centres (BRCs) in England. By providing a platform for partnership between universities, NHS trusts and industry, successful BRCs should reduce time lags within translational research whilst also providing an impetus for local economic growth through industry collaboration. We present a nove

SUBMITTER: Smith JBE 

PROVIDER: S-EPMC6457483 | biostudies-literature | 2019

REPOSITORIES: biostudies-literature