At the end of March, the American Diabetes Association released a report on diabetes’ fiscal impact. Guess what? It’s scarily high.
Diabetes is now the costliest chronic condition in the country. Diagnosed diabetes expenses in the US totalled $327 billion in 2017. The data indicates that one of every four healthcare dollars in spent by someone diagnosed with diabetes. And one of every seven is spent directly treating the condition and its complications.
The Economics of Diabetes in the US in 2017 kicked off the ADA’s annual call to congress event. More than 150 diabetes advocates meet with members of congress and staff, urging them to make diabetes a national priority.
The report showed that the economic costs of diabetes increased 26 percent from 2012 to 2017, thanks to its increased prevalence and the rise in cost per person living with the condition. The costs include $237 billion in direct medical bills and $90 billion in reduced productivity. The largest contributors to the costs of diabetes are higher use of prescribed medications, hospital in-patient services, medications and supplies.
These costs are passed on to all Americans thanks to higher medical costs, higher insurance premiums and taxes, reduced earnings, lost productivity, premature mortality, and intangible costs in the form of reduced quality of life.
ADA’s chief scientific, medical and mission officer, William Cefalu said: “From our new economics report, it is very clear that diabetes bears a significant impact on our nation, both in its toll on the lives of the millions affected by it, and the economic costs for all.
“The most important solution we have is continued and increased investment in critical diabetes research, care and prevention to improve diagnosis and treatment, and to help us turn the tide through diabetes prevention. These efforts can help us to improve health outcomes for people with diabetes – and hopefully decrease the cost of diabetes.”