The Rising Cost of Living with Diabetes
A research analysis conducted by the Centers for Disease Control and Prevention (CDC) has determined that the price of living with diabetes has more than doubled over the past couple of decades, according to a Reuters report. People living with diabetes now spend $2,790 more every year on diabetes care than those living with the condition 20 years ago.
The study pulled numbers from data collected in 1987, 2000-2001, and 2010-2011. Back in the late 80’s, a person with diabetes spent about $2,600 on diabetes care annually. From 2000-2001, that figure shot up to about $4,200. It rose again to around $5,400 per person in 2010-2011. Analysts found that the cost of living with diabetes has increased because of the rising cost of medications. Also, people are using those meds more frequently than in the past.
So where does this small fortune of money go? According to the research, a little bit more than 50% of it was spent on prescription medication, almost 25% went to inpatient visits, 15% was spent on outpatient visits, and the remaining 6% went to visits to the ER and other expenses. While the cost of living with diabetes has increased, people with diabetes are living longer and have a better quality of life than in the past.