Concept information
Preferred term
cost of therapy
Definition
- THE COST OF therapy for any particular medical treatment depends on a variety of factors, including technology, government regulation, and supply and demand. Therapy costs tend to be high because modern administrative regulations insist on lengthy and properly documented animal and human trials for any new medication to be licensed, and this means that pharmaceutical companies can spend up to 20 years developing a new product before it can come to market. [Source: Encyclopedia of Cancer and Society; Cost of Therapy]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/cost_of_therapy
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