Diabetes cost U.S. $245 billion last year
If there’s any question of the impact of the diabetes epidemic in the U.S., consider this: Diagnosed cases of the disease cost an estimated $245 billion in 2012. That’s the latest estimate from the American Diabetes Association, which points out that it represents a 41 percent increase from what it cost in 2007.
Factored into that number were both direct and indirect costs of the disease. Direct costs include money spent on diabetes-related hospital visits, emergency care, visits to the doctor and medications. These direct costs totaled about $176 billion. The indirect costs, which came to about $69 billion, include the cost of lost productivity due to diabetes through absenteeism, job loss, and productivity loss due to premature deaths from the disease.
Wherever the costs come from, the price tag is a significant strain on both individual wallets and the U.S. economy as a whole. According to the report, a person with diabetes spends about 2.3 times more on medical care than someone without the condition, and 64 percent of diabetes care is paid for by government insurance programs like Medicare and Medicaid.