Knowing the costs of treating different kinds of illnesses has always been important for governments partly because of the budget impacts and on the other hand the decision makers also have to consider the social impact of these costs.
Cost Measurement
According to the latest researches in the field, an average person with type 2 diabetes spends about $85,000 on treating the condition and the possible complications. We also have to take into consideration that the costs may vary among women and men.
Cost Dynamics
It is a known fact that women might have to pay more than men. Since the costs are relatively high, anything that can delay the onset of the condition could bring great economics both on micro and macro level.
Latest Studies
The lead author of the latest study regarding cost measurement claims that the main goal of the study has been to model the financial return of delaying or preventing the onset of the condition. The study is of great importance especially because of the high number of sick people worldwide.
How to Measure the Costs?
The researchers built a simulation model to measure the costs of treating the condition itself and the possible complications over the lifetime of a patient. The researchers believed that such factors have a greater impact than calculating the total costs of treating a patient over the course of only one year.
The Findings
The model shows that if a male patient is diagnosed with type 2 diabetes between the ages of 25 and 44, we expect a total cost of treatment of over $124,700. A woman diagnosed in the same age group can expect to have total costs of $130,800. Naturally, the later the diagnosis is made, the smaller the costs will be.
The Effects of Complications
Although some people might think that the most expensive part is treating the condition itself, the truth is that treating the complications represents about 53% of the total costs. Of these costs 57% represent the costs related to treating the damages of the large blood vessels.
Direct Medical Costs
It is important to know that the direct medical costs include the costs of treating the condition, like medication, testing supplies, and doctor visits, as well as treating the complications like nerve damage, kidney disease, heart disease, eye damage, stroke, and amputations.
Such studies give us an idea of how expensive it is to get sick.
