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opioid crisis extremely expensive

The Cost of the Opioid Crisis on the US economy? $631 Billion and Counting…

Landmark trials are now ongoing with the aim of settling who is financially responsible for the opioid crisis in the United States. Analysts at the Society of Actuaries have assessed perhaps just how much those responsible will have to pay – and they have put the total cost to the US economy of the opioid crisis at $631 billion.

The study identified the parts of the economy that have suffered the most because of the opioid epidemic. The biggest costs originated from the unrealized earnings of those who were unlucky enough to fatally succumb to an opioid related overdose.

The Figure of $631 billion Will Increase Annually Until the Crisis is Over

The four year study period ended in 2018. When it comes to 2019, it is likely that between $172 billion and $214 billion will be added to that $631 billion total.

Nearly one-third, or around $205 billion of the overall economic cost was due to the healthcare spending for those people suffering from opioid related disorders. Another $253 billion was put down to estimated losses via premature mortality costs.

Other economic losses were linked to the following causes:

  • Costs incurred by the criminal justice system
  • Family and child assistance programs
  • Absenteeism due to opioid-related factors
  • Decreased workforce participation
  • Incarceration costs for those convicted of drug related misdemeanors

Around one third of total estimated losses fell on governments at the federal, state and local level. The rest fell on the private sector and individuals.

Four in Ten People Say They Know Someone Who is Suffering from Opioid Dependency

In another study undertaken by the Kaiser Family Foundation, around 20 percent of those polled said they knew somebody who had experienced a fatal overdose due to prescribed opioids. Forty percent of those polled said that they were aware of someone in their social or working group who was suffering from opioid-dependency.

In the same poll, when asked if doctors were to blame for the opioid epidemic, 69 percent of those polled said yes and 31 percent said no. When questioned further, 68 percent of those polled said they blamed people who use opioids for the crisis, and 32 percent said they did not.

Only six out of ten people, when asked if they thought that drug companies were to blame for the opioid epidemic said yes.

If you want to learn more about recovering from opioid dependency, then please contact us here at Advanced Rapid Detox. We can be contacted at (800) 603 1813, or online via our contact form.