Search
 

Opioid epidemic took $95 billion from economy in 2016

According to a new analysis from Altarum, $21.4 billion of that total was spent on treating patients who suffer from opioid abuse.

By Marlene Y. Satter | Updated on November 17, 2017
In 2016, the epidemic cost Medicare an estimated $6.4 billion, with private payers and the uninsured forking over a combined $6.3 billion. (Photo: Shutterstock)

As if the sheer human cost isn’t enough, the financial cost of the opioid epidemic cost the economy $95 billion in 2016. According to a new analysis from Altarum, $21.4 billion of that total was spent on treating patients who suffer from opioid abuse.

Quantifying the economic impact of the crisis, which in 2016 alone contributed to 53,054 overdose deaths, can sometimes hit harder and perhaps spur resolve among those who are a bit farther removed from the epidemic, as pointed out by Corey Rhyan, lead author of the report and senior analyst at Altarum, in a Modern Healthcare report.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

BenefitsPRO Broker Expo 2025 (BPRO)Event

The premier educational and networking event for employee benefits brokers and agents.

Get More Information
 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2024 ALM Global, LLC. All Rights Reserved.