Impact Of Diabetes On Healthcare Costs ✓ Solved
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Impact of Diabetes on Healthcare Costs
Diabetes is one of the common diseases that affect people in the health care system. Rising health care costs are making it difficult for the general public to get proper health care services others do not get it at all. The purpose of this paper is to outline the effects of diabetes on healthcare costs.
Diabetes is an increasing chronic disease that has a great impact on clinical effects and causes an economic burden across the world. Expenditures due to diabetes are involved in direct and indirect costs. The type of diabetes and the complications accompanied determine the expenditure on diabetes.
The health care expenditure to manage diabetes and its related complications are increasing every year. American Diabetes Association (ADA) reported in 2017 an increase and remarkable magnitude of the total direct costs of diabetes in the U.S. $116 billion in 2007, $176 billion in 2012, and $237 billion in 2017. This shows the effects of the high expenditure on diabetes on the economy.
The impact caused by diabetes on health care affects the affected individual and their families, and it affects the health care institutions and the government. The government is expected to provide health care support and resources. Healthcare institutions should provide health care services to treat and manage diabetes. Individuals and their families have to have money to seek the proper health services in a health institution.
Economic factors accelerate the impact of diabetes on health care. Currently, the innovation of new technology in diabetes treatment causes an increased cost of treatment. Economic factors such as development in technology have benefits in managing the disease better and demerits of the increased cost of treatment. These market factors determine the cost of diabetes in various parts of the world.
Currently, a large population is being diagnosed with diabetes making the demand for its treatment high. Consequently, treatment equipment and medications demand to increase to satisfy the large population in need of the medications. The increase in diabetes has an increased factor of up to 4 for the last year indicating a high demand to manage diabetes.
Supply in this issue is dealing with the availability of medication and medical equipment. Due to the high demand, the supply is being overwhelmed to meet the demand levels thus some patients receive inadequate medication or others receive none. The scarcity of the supply makes the price of treating diabetes inflate.
Due to the increased impact caused by diabetes, the government decided to enact a law to offer affordable health care services to all people equally. Government intervenes in health programs to provide coverage for the same essential medical services and ensures health care is available to all.
Health differences are very evident in these issues where the wealthy will be able to afford first-class services and the poor will have close to none. Poor management of the health system by the government causes these disparities to have a huge gap. Thus, a government should intervene to ensure all its citizens can get affordable health care. Social economics has a significant contribution to health services disparities.
Global markets are developing measures to promote the prevention of this disease and create robust strategies to manage it from a personal level. Diabetes is managed by having a proper diet; therefore, making awareness promotion of the disease and advising people on the best prevention and control measures have been the initiative for the global markets.
Diabetes has significant effects on the economy of a country. To reduce the impact, prevention measures are advocated by making the public aware of the diseases, its causes, prevention, and treatment measures. People should be encouraged to know their status regarding this disease instead of waiting when it has adverse effects accompanied by serious complications. This will help to control the disease at an early level and reduce its repercussions.
In conclusion, diabetes impacts on health care can be reduced significantly with proper management, public health awareness on prevention measures and control, and affordable health acts being enacted to help provide health services to all.
Paper For Above Instructions
Diabetes mellitus has emerged as one of the most significant public health challenges in contemporary society, not just in terms of personal health but significantly impacting healthcare costs globally. This paper will discuss the multifaceted effects of diabetes on healthcare costs, exploring direct and indirect impacts, the stakeholders involved, market forces at play, and propose recommendations aimed at mitigating these costs.
Overview of the Issue
Diabetes is a chronic condition characterized by high blood glucose levels resulting from insufficient insulin production or ineffective insulin usage. The increasing prevalence of this disease is alarming; researchers estimate that diabetes affects approximately 463 million people worldwide, and by 2045, this figure is expected to reach 700 million (International Diabetes Federation, 2021). The healthcare costs associated with diabetes are staggering, as they include expenses related to hospitalizations, outpatient visits, medications, and diabetes-related complications such as cardiovascular diseases, kidney failure, and neuropathy.
Health Economics Perspective
From an economic perspective, diabetes is a significant burden on healthcare systems. The American Diabetes Association reported that the total estimated cost of diagnosed diabetes in the U.S. was $327 billion in 2017, which included $237 billion in direct medical costs and $90 billion in reduced productivity (American Diabetes Association, 2018). The rising costs are attributed to the increased prevalence of diabetes and its associated complications, which create a cycle of escalating healthcare expenditures, making this a pressing public health issue.
Stakeholders Involved
The major stakeholders affected by the economic burden of diabetes include individuals with diabetes, their families, healthcare providers, and governmental organizations. Individuals and their families bear significant financial burdens, which can result in unmet healthcare needs due to the high costs of treatment and other related expenses (Zheng et al., 2018). Healthcare providers face operational pressures due to a higher volume of patients needing urgent care, which can strain resources and lead to diminished care quality. Governments must allocate resources to manage the increasing demand for diabetes care and implement public health strategies to mitigate the growing problem.
Market Forces Impacting Diabetes Care
Market forces such as supply and demand dynamics heavily impact diabetes treatment costs. The demand for diabetes management tools, such as insulin pumps and continuous glucose monitors, has surged as more people are diagnosed with diabetes each year (Rohlfing et al., 2019). However, the supply of these medical devices often does not meet urgent demand, leading to increased costs and sometimes limited availability for patients. Furthermore, advancements in diabetes treatment technologies often come at a premium cost, compounding the financial burden on healthcare consumers (Lessing & Hayman, 2019).
Affordable Care Act and Its Impact
The Affordable Care Act (ACA) has played a crucial role in shaping healthcare access for individuals with diabetes. By expanding insurance coverage and prohibiting discrimination based on pre-existing conditions, the ACA has allowed many people to afford necessary treatments. However, gaps remain, as those without insurance or access to subsidized healthcare still face significant challenges in managing their diabetes effectively (Griffith et al., 2017).
Health Disparities and Economic Factors
Health disparities are deeply interconnected with the economic aspects of diabetes care. Individuals from lower socioeconomic backgrounds often face barriers to accessing quality healthcare, leading to poorer management of their diabetes and higher rates of complications (Basu et al., 2019). The unequal distribution of healthcare resources exacerbates these disparities and highlights the need for focused interventions to ensure equitable access to diabetes care.
Global Improvements and Recommendations
Globally, countries are implementing public health initiatives aimed at improving diabetes management by promoting lifestyle changes and preventive measures (World Health Organization, 2020). Effective strategies include community education programs, policymaking to ensure equitable healthcare access, and promoting regular screenings for at-risk populations. Additionally, employment incentives for healthcare professionals can improve patient care accessibility and quality.
To minimize the economic burden of diabetes, recommendations include enhancing public education on diabetes prevention and management, increasing funding for diabetes research, and fostering collaborative initiatives between public health organizations and the medical community (Riddle & Herman, 2018).
Conclusion
In closing, diabetes profoundly impacts healthcare costs, requiring a multisectoral approach to effectively manage its burden. By understanding the complex interplay of economics, stakeholder engagement, and healthcare provision, stakeholders can work collectively to reduce these costs and improve the health outcomes of individuals with diabetes.
References
- American Diabetes Association. (2018). Economic Costs of Diabetes in the U.S. in 2017. Diabetes Care, 41(5), 917-928.
- Basu, S., et al. (2019). Socioeconomic Disparities in Diabetes Outcomes: A Systematic Review and Meta-Analysis. Health Affairs, 38(2), 293-300.
- Griffith, K., Evans, L., & Bor, J. (2017). The Affordable Care Act reduced socioeconomic disparities in health care access. Health Affairs, 36(8), 1380-1386.
- International Diabetes Federation. (2021). IDF Diabetes Atlas, 10th edition. Brussels, Belgium: IDF.
- Lessing, S. E., & Hayman, L. L. (2019). Diabetes Care and Management Using Electronic Medical Records: A Systematic Review. Journal of diabetes science and technology, 13(4), 749-752.
- Riddle, M. C., & Herman, W. H. (2018). The cost of diabetes care—an elephant in the room. Diabetes Care, 41(5), 954-961.
- Rohlfing, C. L., et al. (2019). Diagnostics of Diabetes Mellitus. Clinical Chemistry, 65(6), 780-792.
- World Health Organization. (2020). Global Report on Diabetes. Geneva: World Health Organization.
- Zheng, Y., Ley, S. H., & Hu, F. B. (2018). Global Epidemiology of Type 2 Diabetes and Its Cardiovascular Implications. Nature Reviews Cardiology, 15(2), 85-98.
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