Report Warns Alzheimer's Costs Could Reach $1 Trillion By 2050
the Psychiatry Advisor take:
A report issued by the Alzheimer’s Association projects that the financial impact of Alzheimer’s disease could reach more than $1 trillion a year by 2050, unless investments are made to find a cure or more effective treatments.
The report, “The Trajectory of Alzheimer’s Disease,” calls on the federal government to meet its own goals when it comes to research funding for the disease. The organization says the U.S. could save $220 billion in the first five years if more effective treatments or a cure was found by 2025.
Even a treatment that slows Alzheimer’s onset by five years would reap $535 billion in expenditure savings over a 10-year period.
Caring for people with Alzheimer’s and dementia currently costs around $226 billion a year. Medicare and Medicaid picks up about two-thirds of that cost. But while five million people currently live with Alzheimer’s, that figure is expected to skyrocket to 13.5 million by 2050 as Baby Boomers continue to age.
The 2011 National Alzheimer’s Project Act mandated the formation of a plan to find way to prevent and treat the disease by 2025. However, compared to other diseases, such as cancer and HIV, in which, respectively, $6 billion and $3 billion is spent by the government on research annually, only about $600 million is spent annually on Alzheimer’s, Alzheimer’s Association Vice President of Public Policy Robert J. Egge told The Washington Post.
Report Warns Alzheimer's Costs Could Reach $1 Billion By 2050
A report issued on the financial impact of Alzheimer's disease in the United States warns that it could soar to more than $1 trillion a year by 2050, with much of it borne by the federal government, unless action is taken to shift current trends.
The Alzheimer's Association report, “Changing the Trajectory of Alzheimer's Disease," urges the federal government to meet its own goals for research funding in a bid to find a cure or effective treatments by 2025. The U.S. could save $220 billion within the first five years if such treatments were found, the nonprofit's report says. Even with an interim treatment that slowed onset by five years, the costs would immediately drop as much as $535 billion over a 10-year period.
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