What are the financial benefits of research for the NHS?

As part of our week-long series on the crucial role that clinical research plays in the NHS, Professor Pratima Chowdary, professor and consultant of haematology at the Royal Free Haemophilia Centre, talks about the financial benefits of research for the NHS.

Prof Chowdary said, “If we think about financial benefits for participating in research, the biggest benefit is the amount of money that you’re not having to pay for new drugs. In my centre we have saved around £15 million in the last 10 years by participating in various trials, including gene therapy trials. And I know that across the country these savings have been replicated.”

These figures are supported by a recent KPMG report which analysed the value of clinical research to the UK economy. The report reveals that in 2017-2019 clinical research activity added an estimated £8 billion into the economy and generated over 45,000 jobs in England.

Professor Chowdary also commented on the impact research has on her patients. “We noticed that on average patients were having about six bleeds a year in 2010. Our patients are now having about two bleeds a year. A lot of that is about new drugs, but there’s a considerable proportion which is related to how we are practicing as well. If consultants are more engaged [with research], they’re going to be more quality driven.”

Find out more and sign up for our event How to embed research into NHS trusts to improve patient care on Thursday 28 November here.