The health economic burden on people in the United States is significant. According to the Peterson-KFF Tracker, Americans owe nearly $195 million in medical debt, and these financial burdens are worse for middle aged and BIPOC people. According to the Milken Institute’s Partnership to Fight Chronic Disease, chronic disease costs the U.S. economy over $1 trillion annually.
When healthcare researchers measure the economic impacts on people in the healthcare system, they often focus on direct medical costs such as hospital bills, co-pays, and deductibles. However, patients and caregivers experience a wider range of economic impacts, such as costs of transportation to receive care, ability to work, or behavioral health concerns.
The Innovation and Value Initiative (IVI) and AcademyHealth have partnered to develop a framework for researchers, value assessors, and other decision-makers to address the full range of economic impacts in research studies and decision-making.
For more information on this initiative, please contact Erica Malik at [email protected].