Chronic disease is prevalent in a huge portion of the Medicare Advantage population, reportedly 70% of members have at least one chronic condition. Topping the list is cardiovascular diseases estimated to cost $317 billion per year.
These conditions are, according to the Centers for Disease Control and Prevention, “among the most common, costly, and preventable of all health problems.” An estimated $3.2 trillion was spent on healthcare in 2015 as calculated by Centers of Medicare and Medicaid Services, which also predicts healthcare spending to grow 5.5 percent through 2025, with a significant amount going towards chronic disease treatment.
So, which chronic conditions are the most expensive? Read the breakdown from HealthPayer Intelligence of the top ten most expensive chronic diseases to treat per year in the United States:
- Cardiovascular disease: estimated to cost $317 billion per year
- Smoking-related health issues: estimated to cost $300 billion per year
- Alcohol-related health issues: estimated to cost $249 billion per year
- Diabetes: estimated to cost $249 billion per year
- Alzheimer’s Disease: estimated to cost $223.1 billion per year
- Cancer: estimated to cost $171 billion per year
- Obesity: estimated to cost $147 billion per year
- Arthritis: estimated to cost $128 billion per year
- Asthma: estimated to cost $56 billion per year
- Stroke: estimated to cost $33 billion per year
According to a recent HealthMine survey, only ten percent of plan members surveyed said their health plan offers guidance about these chronic conditions and only eleven percent believe they are informed about how to lower healthcare costs. With the rapid rise of these conditions and their staggering costs, it is essential to mitigate their expansion.
About The Number:
The Number is a timely column from HealthMine highlighting a key statistic that is pertinent to the US health care industry.