Research Topic and Outline
Running head: IMPACT OF DIABETES ON HEALTHCARE COSTS 1
IMPACT OF DIABETES ON HEALTHCARE COST 5
Impact of Diabetes on Healthcare Cost
RRR
AMU
18 November 2020
Impact of Diabetes on Healthcare Cost
Introduction
Every individual within the healthcare system today understands the weight of the cost of diabetes. It is an "Elephant" that most people ignore; it is essential. The option is not viable since several clinicians and scientists tend to neglect the disease's financial opportunity and concentrate on other issues. Individuals staying with the condition feel the consequence of the illness alongside the healthcare experts who deliver the services, and payments take the issues a primary concern. Therefore, the cost of having the disease may be ignored, yet it is an issue of concern that affects 70 percent of the healthcare providers and health. Diabetes care needs to have a better presentation of the studies related to diabetes.
Body
Several diabetes associations have given out their report on the cost of diabetes in the entire nation. According to the current research, the direct costs of diabetes continue to rise, thus creating an alarm (Rosella et al., 2016, p400). In the entire United States, the price of diabetes rose to $116 billion by the ear 2007. The increase was surprising by 2012 when the record showed that it was $ 176 billion, and by 2017, it was $237 (Mapa-Tassou et al., 2019, p5). The cost of diabetes becomes a concern of healthcare since several people are diagnosed with the disorder yet do not have sufficient funds to foot their hospital bills and carter for the rest of the healthcare requirements. On the other hand, the healthcare system is also faced with the challenge since the cost increases to the point they may not accommodate all the healthcare facilities. Therefore it becomes an issue of concern to healthcare. As a result, healthcare's economic value reduces as a lot of money is spent on the management of diabetes.
The cost of diabetes mostly incorporates a few parties. The parties are the patients with the disease who may fail to meet the value of the disease. Also, the patients' families is another party involved as they must meet the cost of staying with patients. The healthcare experts are the third party as they must meet the cost of insuring an individual's safety. The government responsible for meeting the extra cost of financing the healthcare facility and providing the laws that govern the sector is a party involved (Islam et al., 2017, p2). All the market sectors which produced various medicines and other materials have an impact on the issue. They must deliver quality products and services to different healthcare sectors.
Since there are several patients diagnosed with diabetes, they require lots of attention and unique services. As a result, the demand curve of the materials used alongside the drugs increases, increasing the supply and cost. An increase in demand for any healthcare-related product increases the supply (Turner et al., 2018, p207). The health affordable act tries to impose laws regulating the disease's cost, making it somehow accessible but not every individual. On the other hand, they have special consideration for certain people. They give special attention to other people. Also, the financing sectors consider the healthcare facility first before any other issue is considered. Pagano et al., (2016, p947) posit that the problem has been addressed to ensure globally every individual does not face difficulty when addressing health issues, particularly diabetes. The cost must be reduced. Therefore, I may recommend that based on the economic principle, the improvement should be made faster to assist the individual who might not be able to sponsor themselves. Equality should be considered in the healthcare facility.
In conclusion, the cost of diabetes is a threat to the entire world. It is an "Elephant" that most people ignore; it is essential. The option is not viable since several clinicians and scientists tend to neglect the disease's financial opportunity and concentrate on other issues. Individuals staying with the condition feel the consequence of the illness alongside the healthcare experts who deliver the services, and payments take the issues a primary concern. Making adjustments would prove favorable to many people. The findings are expected to be favorable to ensure that all the issues concerning the cost of diabetes on healthcare are addressed.
References
Islam, S. M. S., Lechner, A., Ferrari, U., Laxy, M., Seissler, J., Brown, J., ... & Holle, R. (2017). Healthcare use and expenditure for diabetes in Bangladesh. BMJ global health, 2(1).
Mapa-Tassou, C., Katte, J. C., Maadjhou, C. M., & Mbanya, J. C. (2019). Economic impact of diabetes in Africa. Current diabetes reports, 19(2), 5.
Pagano, E., De Rosa, M., Rossi, E., Cinconze, E., Marchesini, G., Miccoli, R., ... & Bruno, G. (2016). The relative burden of diabetes complications on healthcare costs: the population-based CINECA-SID ARNO Diabetes Observatory. Nutrition, Metabolism and Cardiovascular Diseases, 26(10), 944-950.
Rosella, L. C., Lebenbaum, M., Fitzpatrick, T., O'reilly, D., Wang, J., Booth, G. L., ... & Wodchis, W. P. (2016). Impact of diabetes on healthcare costs in a population‐based cohort: a cost analysis. Diabetic Medicine, 33(3), 395-403.
Turner, R. M., Ma, Q., Lorig, K., Greenberg, J., & DeVries, A. R. (2018). Evaluation of a diabetes self-management program: claims analysis on comorbid illnesses, health care utilization, and cost. Journal of medical Internet research, 20(6), e207.