AGETECH: FROM "MAYBE" TO "MUST" FOR MANAGING CHRONIC CONDITIONS.
The Economic Burden of Chronic Diseases in Aging Populations Chronic diseases are a significant and profound economic issue for individuals, the healthcare system, and society as a whole. With the aging of populations worldwide, the prevalence of chronic diseases is increasing, accounting for 90% of all medical costs in the US and even greater worldwide. It amounts to $4.1 trillion in annual health care expenditures The presence of multiple chronic conditions in the same individual has profound implications for healthcare costs and utilization. According to the CDC, six in ten adults have a chronic disease, and four in ten adults have two or more chronic diseases in the US. A Swiss study found that elderly patients with multiple chronic conditions had healthcare costs 5.5 times higher than those without multiple chronic conditions. Hence, even a small reduction in the prevalence of chronic diseases can result in significant cost savings and a genuine return on in...