The Institute of Medicine estimates that chronic pain costs the US up to $635 billion a year in medical care and lost productivity. An individual with moderate chronic pain has $4,500 excess medical expenditures per year, while a person with severe chronic pain has $7,700.
Given that 20% of the adult population has serious (moderate or severe) chronic pain, this amounts to conservatively $5,000 per person per year excess medical costs, plus costs related to lost productivity.
Pain Cost Calculation:
To determine cost of chronic pain in your population:
Number of adults x 20% x $5,000= Total Excess Medical Spend
A midsize company with 1,000 employees
1000 x 20% x $5,000 = $1 Million per year
Potential Savings Calculation:
Per 1000 people: 40% resolution of chronic pain = $400,000 saved per year