WASHINGTON, DC – Families across the country continue to feel the effects of the opioid crisis. A new study explored the financial toll of the opioid epidemic, concluding it has cost the U.S. more than $1 trillion since 2001. The new analysis also predicts that the crisis will cost the U.S. another $500 billion by 2020.
These costly figures come from lost productivity in the private sector, lost wages, and increased spending by Congress to fight this epidemic. Other factors include lost tax revenue and heightened spending on health care to fight this national scourge.
The new analysis from Altarum explains that the greatest cost of this crisis, however, is due to overdose deaths. The lost earnings of workers and productivity losses of employers from opioid epidemic deaths is estimated at $800,000 per person.
But there’s a reason for hope – Energy and Commerce continues to lead the way in the national fight to solve this urgent crisis. In addition to continuing to investigate some of the causes of the opioid crisis, including alleged pill dumping in West Virginia, patient brokering, and the surge of fentanyl and other synthetic drugs, #SubHealth will begin holding hearings examining potential legislation to combat the crisis later this month.
This report also comes on the heels of President Trump signing the Bipartisan Budget Act of 2018 into law, which paves the way for additional opioid funding and resources.
To learn more about what Energy and Commerce is doing to lead the fight against the opioid epidemic, click here.