Free

Financial Costs of Diabetes - Research Paper Example

Comments (0) Cite this document
Summary
The author states that diabetes is one of the most common chronic ailments in the US and to evaluate the burden of the same, a reliable method must be established for attributing diverse clinical conditions. Direct complications costs of diabetes are some of the issues taken into account…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96.2% of users find it useful
Financial Costs of Diabetes
Read TextPreview

Extract of sample "Financial Costs of Diabetes"

Financial Costs of Diabetes
Diabetes is one of the most common chronic ailments in the US and to evaluate the burden of the same, a reliable method must be established for attributing diverse clinical conditions. Direct complications costs of diabetes and the underlying conditions costs are some of the issues taken into account.
Like most health conditions, diabetes not only impacts economic burden to the society in general, but also to the individual and their families. Some of the expenses individuals with diabetes cover include medications, physician services, laboratory tests, health insurance and other services with shared payments (Javitt and Chiang, 2001). Though the structure of health expenditure survey is not useful for approximating nationwide complications and costs of diabetes, it can however give details of how diabetes has affected individual patients and their families economically. Diabetic patients have been using medical services more than other individuals diagnosed with other disease which makes their medical expense higher. This is especially with their medication where in some circumstances they are forced to use out of pocket expenses.
In the year 2007, the economic cost of diabetes was estimated to be $174 billion in the United States of America (Javitt and Chiang, 2001). 116 billion dollars was the estimate of direct medical costs while 58 billion dollars was due to other expenses such as disability brought by diabetes, lost work days and restricted activities in health centre. At an average, people diagnosed with diabetes use $11,744 annually, with $6649 being attributed to diabetes (Javitt and Chiang, 2001). Approximately 1/5 of health care dollars in the United States is used to care for individuals diagnosed with diabetes while 1/10 of health dollars is contributed to diabetes. People diagnosed with diabetes have higher medical expenditure compared to the rest of the population from health care statistics over the years (Javitt and Chiang, 2001).
Diabetic patients and their families are not the only people who are affected economically by the disease but also the community or the society at large. Though they are affected indirectly, the impact is felt even at minimal. When patients are diagnosed with diabetes extra costs are required to cover for their medical care which means a percentage of health care for those who are not diabetic will have to reduce (Javitt and Chiang, 2001). Another example is when diabetics affects individuals output at work from the effects of suffering from the same which affects the productivity of the company as a results affects the economy of the country.
The findings in all the three groups show insightful economic effects of diabetes to the society, individual and their families. An estimate of 13% of US dollars goes to health care expenditure for patients diagnosed with diabetes. Statistics proves that diabetic people use a much elevated amount of health services and incur a large amount expenses than non diabetic people who use health services for other reasons (Javitt and Chiang, 2001). Though diabetic expenses are high and has economic effects on various people, it is important for the people diagnosed with the disease to avail themselves to health facilities and use the medical services that will be provided to them. The statistics are credible and they do represent different groups of people example, the individual suffering from diabetes, the society involved and the health care personnel involved with taking care of the diabetes patients.



Reference
Javitt, J., and Chiang, Y. (2001). Chapter 30: Economic Impact of Diabetes, In Diabetes in America. Philadelphia: Diane Publishing Company. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Financial Costs of Diabetes Research Paper Example | Topics and Well Written Essays - 500 words - 3”, n.d.)
Financial Costs of Diabetes Research Paper Example | Topics and Well Written Essays - 500 words - 3. Retrieved from https://studentshare.org/health-sciences-medicine/1780268-diabetes
(Financial Costs of Diabetes Research Paper Example | Topics and Well Written Essays - 500 Words - 3)
Financial Costs of Diabetes Research Paper Example | Topics and Well Written Essays - 500 Words - 3. https://studentshare.org/health-sciences-medicine/1780268-diabetes.
“Financial Costs of Diabetes Research Paper Example | Topics and Well Written Essays - 500 Words - 3”, n.d. https://studentshare.org/health-sciences-medicine/1780268-diabetes.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Financial Costs of Diabetes

Airbus: Financial Benefits & Costs

...? Airbus: Financial Benefits & Costs Table of Contents 3 of the firm 4 ABC benefits 7 Standard Costs 11 Relevant Costs 14 Conclusion and Recommendations 16 References……………………………………………………………………………………….17 Abstract Airbus is a leading manufacturing airline company in the world. Despite its largest share in the market, Airbus still faces some particular criticism due to its internal disagreements. This unraveled when the company lost almost $300 million on the contracts it had with the consortium, a member of Aerospace in Britain who called for the reorganization of the managerial and financial structure of Airbus. This was done in 1988 by sprucing the...
13 Pages(3250 words)Research Paper

Financial Costs

...?Running head: Research Paper Research Paper Introduction One of the most challenging tasks for any business is to maintain steady growth while satisfying the need for reduction of costs. Every company seeks to grow in size through increased profits. The demand for cost reduction always haunts the firm in the production sector. The need to come up with a viable strategy that keeps the production cost at a minimum while simultaneously promoting growth requires an expert in business. In most cases, the person or committee in a firm that is responsible for drafting a financial cost reduction plan cuts down on the less efficient functions in the firm. He aims at reducing the liabilities to the firm while being cautious not to paralyze... the...
5 Pages(1250 words)Research Paper

Financial Costs of the Chronic Illness Depression

...?Financial Costs of the Chronic Illness Depression Introduction Depression is the highest of stress. It affects a person’s mood hence dislike of activity. As a result, it can affect a person's views, behaviour, moods and sense of well-being. It is significant to note that depressed people may feel gloomy, anxious, empty, desperate, worried, helpless, insignificant, guilty, irritable, miffed, or restless. They might lose interest in actions that once were enjoyable, experience loss of desire for food or overeating and have problems focusing. Moreover, some are burdened with remembering facts, or making decisions, and may consider or attempt suicide. Insomnia, excessive sleeping, exhaustion, loss of drive,...
3 Pages(750 words)Essay

International Financial Management - Currencies and Costs

...ACADEMIA RESEARCH ORDER No. 157066 7080 12 MARCH 2007 Examination Of The Rationale Behind Firms' Issuing Of Foreign-Currency-Denominated Debt And A Comparative Study Of How Vodafone Group Plc's Financial Structure Is Explained By These Reasons 2. Why companies Issue Foreign-Currency Denominated Debt: Evidence from Earlier Studies. A number of studies have provided reasons why firms issue debt in foreign currency. Some of the most important reasons that I came across include: Hedging foreign currency risk; Taking advantage of capital market imperfections to lower the cost of capital; and Speculative Motives; Issuing debt in foreign-currency increases firm value; and Tax Arbitrage. Hedging...
6 Pages(1500 words)Essay

Costs

...In today's globalised economy, all professionally managed organizations understand the value of cost informatio . Costs associated with each level of production and distribution should be calculated carefully to survive and grow in a competitive market place. To manage a business successfully, the manager should make plans both in the short run and strategic perspectives. The business manager has to understand the various types of cost and their behavior in the short run and long run and hence this essay. Long run costs Long run has been defined as that period of time in which all the factors of production are variable, but the state of technology is fixed(Jocelyn,...
6 Pages(1500 words)Essay

Diabetes

...Diabetes Physical therapists who wish to provide their patients with the best possible care should makeit a practice to stay current in research studies that may have an affect on the way in which they work with those patients. In working with diabetic patients, there are many advances happening all the time as researchers learn more about how diabetes affects the normal functioning of the body and how exercise and physical therapy play a part. By studying the chemical processes that occur when the body is in active motion, such as in exercise, researchers have discovered numerous advantages for the diabetes patient in maintaining a stable exercise routine as well as...
5 Pages(1250 words)Essay

Diabetes

... Diabetes: An Annotated Bibliography Dieren, S., Beulens, J. W. J., Schouw, Y. T., Grobbee, D. E. & Neal, B. .The global burden of diabetes and its complications: an emerging pandemic. European Journal of Cardiovascular Prevention and Rehabilitation, 17(1), 3 – 8. The researchers in this study appreciate the high prevalence rates of type 2 diabetes in both the developing and developed countries in the modern world. Collecting data from various secondary sources, the study cites the rise in inactivity and obesity, the ageing population and longevity of diabetes patients as the causes for increase in diabetes prevalence, with the study taking a global scope. The findings attribute a majority of socioeconomic burden in the society... to this...
2 Pages(500 words)Annotated Bibliography

Financial projections (revenues, costs, anticipated net profit)

...Financial projections PharmaStaff is a staffing agent that provides scheduling relief to businesses and to match qualified professionals with companies to form successful work relationships. The start-up cost includes setting up office, capital equipment, location and admin expenses, launching website, advertising and promotional expenses. All these costs will be incurred at the start of the business. Nonetheless, advertisement and promotional costs will ripple across the months. Initially, large sums of funds will be directed towards advertisement but will decrease as the business picks up. The following financial projections are based on pharmacist’s...
1 Pages(250 words)Essay

Diabetes

...Exercise Prescription for Diseased Population of Introduction Exercise is as important as medication and other forms of therapy for diabetics. Hence, health care professionals should include an exercise plan for their patients. In fact, exercise, when aligned with the conditions and needs of a diabetic, is a rather effective medicine for a weak or ailing heart. This paper explores the recommended exercise prescription for middle-aged patients of gradually developing type 2 diabetes. Type 2 diabetes is caused by lack of activity and excess weight. According to the American Heart Association, a combination of aerobic exercise and strength training is ideal for type 2...
2 Pages(500 words)Essay

Costs

...to the required results, it utilizes all the relayed data contrary to visual fit method, which mostly leaves out some data. This is especially when intending to link certain points of data graphically. References Aartsengel, A. & Kurtoglu, S. (2013). Handbook on continuous improvement transformation: The lean Six Sigma framework and systematic methodology for implementation. Berlin: Springer. Dunn, J. P., Sherwood, P. K., Stevens, R. E. & Winston, W. (2013). Market Analysis: Assessing Your Business Opportunities. London: Routledge. Hansen, D. R., Mowen, M. M., & Guan, L. (2009). Cost management: Accounting and control. Mason, Ohio: South-Western. Hartman, J. M., Vang, D. O. & Cornwall, J. R. (2015). Entrepreneurial...
1 Pages(250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Paper on topic Financial Costs of Diabetes for FREE!

Contact Us