Pain Awareness Month: Economics of Pain

ICYMI: In recognition of Pain Awareness Month, we are diving deep into the issues that impact the chronic pain community. This is the final post in our month-long Pain Awareness Month blog series. Click here to see the full series.

If you or someone you know suffers from chronic pain, you know the physical toll it can take on a person’s life. Constantly in pain, frequently bedridden, and unable to function the way you want, chronic illness has long lasting impacts on the lives of those living with it. What most people who don’t experience chronic pain overlook is how much of a fiscal toll that physical pain is causing. While the true cost of chronic pain is often a loss in quality of life, ongoing management and treatment is expensive. Between healthcare costs and the value of lost time and productivity, the cost to society, including individuals, insurers and employers, among others, is a staggering $635 billion.

Our recent survey, fielded in partnership with BackerNation, sought to understand how much money individuals living with chronic pain are spending out of pocket on a monthly and yearly basis. This amount could include anything related to pain management – from doctor visits and co-pays to over-the-counter medication, heating pads or other alternative treatments.

The results revealed that those living with pain are spending a significant amount on management and treatment, confirming results of recent research. Economists, using data from the Health and Retirement Study, determined that the economic impact of chronic pain on an individual’s quality of life averages  $56 to $145 per day.

It is clear that chronic pain has an impact on all aspects of ones life.  At NeuroMetrix, we advocate a toolbox approach to ease the burden of chronic pain.