According to the American Diabetes Association, diabetes cost the United States of America 254 Billion dollars just in 2012. This study took into account the use of health resources, loss in productivity and actual costs to those with diabetes. The stats show that 7% of the population is living with diabetes. That equates to approximately 22 million people, an increase of just under one million new diabetics every year over the last 6 years. The ADA Chief Scientific and Medical Officer, Robert E. Ratner, MD says “We have an incredible epidemic of diabetes…”.
To get a better idea of the impact and change per individual, diabetes is estimated at costing just under $8,000 per year. The numbers in growth is rising, costing lives and adding to an already rocky financial situation for all Americans. This is because 1/3rd of every Medicare dollar is spent on diabetes, with Medicare being one of the largest impacts to the US economy. Changes to this budget puts lives at risk but does not fix the epidemic or research why it is happening.
Either way, people are getting rich off of this disease while average Americans are suffering. What should we do about this?