America’s opioid epidemic has cost the country more than $1 trillion from 2001 to 2017 and could cost another $500 billion by 2020, a new analysis found.
The analysis released Tuesday from consulting firm Altarum estimates the cost of the opioid crisis increased from $29.1 billion in 2001 to $115 billion in 2017.
The analysis says the costs of the crisis come from lost wages, lost productivity in the private sector, and healthcare costs.
“The greatest cost comes from lost earnings and productivity from overdose deaths — estimated at $800,000 per person based on an average age of 41 among overdose victims,” the analysis said.
In 2017, the number of opioid overdose deaths is estimated to be higher than 62,500 based on data through June, Altarum added.