Diabetes affects over 1 million Australians to date. Not only are their emotional and social impacts, financially Australians can find it difficult to cope to manage their diabetes to their best ability.
Currently there is no cure for both forms of diabetes, type 1 and type 2. However, there are a range of solutions to manage diabetes. For this reason, are ongoing costs of managing diabetes year after year can be expensive.
There are also a large number of complications and problems that can result from poor management of diabetes, which can also increase the cost of diabetes such as Kidney disease, Eye disease, Foot complications and Cardiovascular disease.
What Is The Cost Of Diabetes?
The cost of diabetes per Australian varies depending on the complications or severity of the chronic illness. On average, Diabetes Australia in the Report entitled ‘Diabetes: the silent pandemic and its impact on Australia’ published in 2012, believe that the average cost ranges from $4,025 up to $9,645 per year for Australians living with Type 2 diabetes. The high cost reflects diabetes sufferers who have complications.
For Australians with Type 1 diabetes, the cost on average per person is $3,468 for no complications, while individuals who are experiencing complications are spending on average $16,698 per year.
Here is the complete breakdown of average costs per year per Australian living with diabetes
|Type 1 diabetes||Type 2 diabetes|
|No complications of diabetes||$3,468||$4,025|
|Microvascular complications only||$8,122||$7,025|
|Macrovascular complications only||$12,105||$9,055|
|Micro-and macrovascular complications||$16,698||$9,645|
What Do Australians Need To Cover?
There are a range of costs that reflect the annual medical expense of living with diabetes. These include:
– Medication and Treatment
– Specialist care
– Home Support
– Nursing Home (For Australians diagnosed at an older age)
– Transport for hospital visits
– Unexpected or premature death (funeral costs)