MAR 20, 2014 10:00 AM PDT

Neuroeconomy; Economic Impact of Neurodegenerative Diseases both in the US and Globally

Presented at: Neuroscience
Speaker

Abstract

When speaking of neurodegenerative diseases, average public is not made aware of the true cost that brain related disorders have on annual budget. The true impact on economy is not usually the direct cost of healthcare, but rather, loss of daily productivity, of not only the primary person affected, but also of the caretakers and family. Primary caretaker functions like a manager for the case. He or she loses days of work because of caretakers needs and involvement. Secondary impact on the case is anxiety and depression ensuing the illness, not only present in the primary patient, but also in family members. This further decreases productivity on the global scale. Thomas Insel, the director of NIMH suggested three approaches to estimate global economic burden: (a) a standard cost of illness method, (b) macroeconomic simulation, and (c) the value of a statistical life. The results of all three methods project staggering costs over the next two decades, with cardiovascular disease, chronic respiratory disease, cancer, diabetes, and mental health representing a cumulative output loss of $47 Trillions, roughly 75% of the global GDP in 2010. Over 2 billion people suffer from brain-based related productivity loss, which translates into a 2 trillion economic burden. One approach is to find innovative ways to prevent and treat diseases in a more economically feasible ways: neurotechnology and biotechnology of healthcare.


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MAR 20, 2014 10:00 AM PDT

Neuroeconomy; Economic Impact of Neurodegenerative Diseases both in the US and Globally

Presented at: Neuroscience


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