Research Means Jobs and Hope - Funding in Jeopardy
BOSTON – While certain elements of the "fiscal cliff" have been resolved, budget sequestration - across the board cuts Congress passes alternative legislation - has only been delayed temporarily and federal research funding remains in jeopardy. The Conference of Boston Teaching Hospitals (COBTH) has released a video, Research Means, highlighting the impact that medical research has on the economy and patient care.
With sequestration, the National Institutes of Health (NIH) will face an 8.2 percent funding cut. More than 80% of the NIH’s funding is awarded through competitive grants to hospitals, universities, medical schools, and other research institutions in every state - including more than 100 organizations in Massachusetts. Research means jobs and sequestration's impact on Massachusetts will be more than $200m in reduced funding and the potential loss of more than 2,500 jobs. The impact on all of New England would be significant, with nearly $300m in lost funding supporting 3300 jobs.
"We are very fortunate that our Congressional delegation understands the positive impacts of medical research and has been very supportive of federal funding. This video is an opportunity for researchers and business leaders to provide firsthand accounts of why that research is so important from a number of different perspectives," said John Erwin, Executive Director of COBTH.
The prospect of automatic spending cuts threatens the future of U.S. leadership in medical research and development and will delay or permanently remove access to life-saving medical treatments. Sequestration would slash federal investments in research aimed at discovering treatments, moving safe and effective new medicines to market, and creating innovations to grow our economy.
"Research means leadership and with such a drastic reduction in funding, we face the prospect of losing an entire generation of scientists as other countries look to take away our leadership position. But more importantly, for millions research means hope and we lose the progress we are making toward better treatment and ultimately cures," said John Fernandez, President and CEO of Massachusetts Eye and Ear and COBTH Chair.
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About COBTH: The Conference of Boston Teaching Hospitals exists to maximize the Boston area teaching hospitals' visibility on the issues that are fundamental to their unique missions of teaching and research. COBTH educates opinion leaders at all levels about the contributions of its members to the area's health and economy. Members include Beth Israel Deaconess Medical Center, Boston Children’s Hospital, Boston Medical Center, Brigham and Women's Faulkner Hospital, Brigham and Women’s Hospital, Cambridge Health Alliance, Carney Hospital, St. Elizabeth Medical Center, Dana-Farber Cancer Institute, Lahey Clinic Medical Center, Massachusetts Eye and Ear, Massachusetts General Hospital, Tufts Medical Center, VA Boston Healthcare System.
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