From a Science Daily online article:
“We found staggering inconsistencies between how costs of dementia are calculated across studies and our analysis strongly supports that current estimates fail to recognise the true costs of the diseases, such as Alzheimer’s, that cause dementia. Some studies have estimated that out of pocket expenses for people with dementia are up to one third of their household wealth in the final five years of their life, and that caregivers have healthcare costs that are twice as high as non-caregivers. We also found evidence that costs begin rising up to 10 years prior to diagnosis — we need to better measure and factor all these into future societal cost estimates.”
Some of dementia’s hidden costs explored in the analysis include:
- People developing other health conditions, such as anxiety or depression, as a result of caring for someone with dementia.
- Families forced to cut back on spending or to use savings to support their loved ones.
- Reduced quality of life for people with dementia and their care partners/carers.
- Costs that are incurred in the years before a diagnosis of impairment or dementia is made.
Currently, dementia is estimated to cost the US economy $290bn a year; the UK economy £26bn a year, and $1tn globally. A team of experts from institutions in the UK, Canada, Spain and the US reviewed existing evidence to assess what different costs are associated with dementia and analyse how these costs are measured.
To read more click on following link: https://www.sciencedaily.com/releases/2019/07/190730092616.htm