GlobalData Report Highlights Staggering Economic Costs for New York of $37.3 Billion Due to Obesity
21 Setembro 2023 - 8:00AM
Business Wire
Obesity and overweight are estimated to have caused a staggering
$37.3 billion reduction in New York’s economy in 2022, equivalent
to 1.8% of the state's gross domestic product, according to a
report released by GlobalData Plc, a leading data and analytics
company.
GlobalData’s report, ‘Obesity’s Impact on New York's Economy
and Labor Force,’ analyzes the economic and workforce
implications of obesity in the State of New York, as well as the
impact on state tax revenue collections and costs. Obesity is a
serious, progressive disease and is associated with a range of
other diseases, including type 2 diabetes, cardiovascular diseases,
and musculoskeletal disorders. In New York, nearly one-third of
adults are classified as having obesity (29.1%), and another third
have overweight (34.5%). This disease not only contributes to an
increase in healthcare spending and premature death but also has a
detrimental effect on labor force participation and
productivity.
Estimates of the economic impact of obesity on New York include:
165,000 fewer adults in the workforce due to obesity-related
unemployment and premature death, $3.2 billion higher costs to
employers for health-related absenteeism and disability, and 9%
lower earnings for women with obesity compared to women with a
healthy weight.
Employers in New York paid an extra $3.0 billion in higher
medical expenditures for health complications attributed to obesity
and overweight. Households with private insurance incurred $1.8
billion in higher costs. Medicaid costs to the state were higher by
$1.5 billion (equivalent to 5.6% of the state's Medicaid spending).
The federal government also spent an estimated $6.5 billion more on
Medicare and Medicaid for New York residents.
Obesity and overweight have a detrimental impact on the state's
budget, estimated at $5.2 billion in 2022 which is equivalent to
4.4% of fiscal year revenues. State tax revenues were lower by $3.0
billion (2.5%) due to reduced economic activity, while state costs
for Medicaid, public assistance, and state government health
insurance increased by $2.2 billion.
The report also notes that achieving and maintaining weight loss
of 5% to 25% among New York’s non-Medicare adult population with
obesity could produce substantial medical savings, ranging from
$32.5 billion to $70.0 billion over the next 10 years.
Obesity is driving the rising number of new cases of type 2
diabetes in the US every year,” said Robert Gabbay, MD, chief
scientific and medical officer for the American Diabetes
Association®. “Obesity rates continue to increase in New York and
across the country. Research shows that healthy weight management
can significantly improve health for those at risk including the
potential to prevent diabetes and even lead to diabetes remission.
To help prevent diabetes, people with obesity need to be able to
work with their health care providers to effectively treat and
manage their chronic disease.”
Considering the analysis, GlobalData has recommended actionable
steps for state policymakers and employers:
State policymakers can (1) advocate for state employee health
insurance to cover comprehensive, evidence-based obesity
treatments, including intensive behavioral counseling, nutrition
support, pharmacotherapy, and bariatric surgery; (2) expand
Medicaid coverage for obesity treatment; and (3) invest in
community-based programs and education campaigns.
Employers can (1) offer insurance coverage and wellness programs
for obesity care at parity with other chronic diseases; (2) foster
a culture of support and inclusion that recognizes and accommodates
the needs of employees with obesity; and (3) provide education and
resources to employees to educate about the health risks associated
with obesity as well as strategies for obesity care and weight
management.
GlobalData's report serves as a wakeup call to address the
obesity crisis head-on, with the potential to alleviate the
economic burden on New York and foster a healthier and more
prosperous future for its residents and employers.
The study was supported by Eli Lilly and Company.
ENDS
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Notes to Editors
- Quote provided by Robert Gabbay, MD, chief scientific
and medical officer for the American Diabetes
Association®.
- Access the report and additional material.
- When incorporating images or videos into news articles, we
kindly request that media outlets exercise sensitivity in their
portrayal of individuals with obesity. Images are available to use
from the Obesity Action Coalition’s bias-free image
gallery.
About GlobalData
4,000 of the world’s largest companies, including over 70% of
FTSE 100 and 60% of Fortune 100 companies, make more timely and
better business decisions thanks to GlobalData’s unique data,
expert analysis and innovative solutions, all in one platform.
GlobalData’s mission is to help our clients decode the future to be
more successful and innovative across a range of industries,
including the healthcare, consumer, retail, financial, technology
and professional services sectors.
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