Health & Fit Opioid Crisis Cost U.S. Economy $631 Billion in Four Years, Study Shows
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The Society of Actuaries released aTuesday examining the economic impact of non-medical opioid usage in the United States, and it concludes that from 2015 to 2018 an estimated $631 billion was spent dealing with the crisis, with more to come.
The report, authored by Stoddard Davenport, MPH; Alexandra Weaver, ASA, MAAA and Matt Caverly, examines the cost of opioid misuse on a variety of areas, including health care expenditures, law enforcement and criminal justice programs and early mortality.
Opioid-related deaths increased dramatically in the period the study surveyed. According to the, 33,091 opioid overdose deaths were reported in 2015, a figure that jumped to 42,249 the following year.
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Early mortality represents the largest economic force in the study. The authors estimate that $253 billion of potential productivity and earnings are removed from the U.S. economy as a result of premature death as a result of opioid usage.
The second largest cost area is $205 billion in health care, which includes providing emergency services for overdoses and care for infants born with opioid withdrawal and abstinence syndromes.
The government has been saddled with a third of the total cost, primarily paid through Medicare and Medicaid, according to the report.
The authors also warn that the $631 billion figure is most likely underestimated, as they did not include any financial estimates from things they could not reliably measure including lost workplace productivity and diminished quality of life.
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The study uses available data to project an estimate for 2019. The midpoint cost estimate of that data is $188 billion, indicating that the economic impacts of the opioid crisis are likely to continue to increase.
Many state and local governments are turning to the courts to address the crisis and hold the companies who made these products responsible.
The first high-profile trial of that nature begins this week, as Ohio's Cuyahoga and Summit Counties are bringing drug company Teva Pharmaceutical; distributors McKesson, Henry Schein, Cardinal Health and AmerisourceBergen; and retailer Walgreens to court. Several other defendants in that case, including Johnson & Johnson and Allergan, have already agreed to settlements with the counties.
One of the largest manufacturers of synthetic opioids, Purdue Pharmaceutical, announced in September amidst multiple lawsuits that they were filing for Chapter 11 bankruptcy. They estimate that after the proceedings the company's assets will bring $10 billion to settle lawsuits across 24 states.
The FDA requests the removal of a painkiller for risk of abuse, a first
The FDA tightens the screw. On Thursday, June 8, the US Drug Agency asked Endo Pharmaceuticals. "The benefits of the drug may no longer outweigh its risks," argues the institution. This drug generates 14% revenue, which climbs to $ 1.16 billion.
Clearly, the FDA estimates that this molecule, used to treat moderate to severe pain, can lead to abuse in its consumption, with risks of(obstruction of the small vessels of the body, linked to risks kidney failure, blurred vision, ...). According to the FDA, this opioid, which can be administered by injection, is also
In its press release, the institution adds that it is asking for the withdrawal of painkillers for health consequences due to abuse of consumption for the first time.
"We are facing an epidemic of opioids - a public health crisis, and we must take all necessary measures to reduce the scope of opioid misuse and abuse."
A medical cost of more than $ 72 billion for the country
The overconsumption of opioids is a major public health problem in the United States. On average, 78 Americans die every day from opioid abuse.In six out of ten cases,
The cost is social, but also financial.a US government agency.
And in the future, the FDA could again: "We will continue to take regulatory action when we see situations where the risks of an opioid product outweigh its benefits, not only for the target population required, but also for the possibility of misuse and abuse ".
Doctors Are Taking Away Opioid Prescriptions From A Growing Number of Patients, Report Shows .
A federal guideline on removing patients from their opioid prescriptions was recently tempered, but not before physicians and hospital networks began aggressively removing people from their medication or sending them away entirely. HHS suggested tapering patients at gradual doses of about 10 percent a week or possibly less, but some clinicians and hospitals may have interpreted the guideline as a "hard stop," said the study, which was published November 15 in The Journal of the American Medical Association.
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Full Board Meeting - February 1, 2019
Agenda and meeting materials can be found here: http://www.mbc.ca.gov/About_Us/Meetings/ 14. Call to Order/Roll Call/Establishment of a Quorum 3:44 15.