Study: Opioid Abuse Costs Indiana $4B+ Annually

Posted: Updated:
(Image of Ryan Brewer [pictured left] and Kayla Freeman [pictured right] courtesy of Indiana University.) (Image of Ryan Brewer [pictured left] and Kayla Freeman [pictured right] courtesy of Indiana University.)
BLOOMINGTON and COLUMBUS -

New research from Indiana University says the opioid crisis cost the state $4.3 billion last year and will reach a similar level this year. The findings were pulled from 15 years of data that show opioid deaths have increased more than 500 percent over that time. It estimates some 12,300 Hoosiers have died since 2003 from opioid overdoses.

The research was conducted by IUPUC Associate Professor of Finance Ryan Brewer and Indiana University Kelley School of Business doctoral candidate in finance Kayla Freeman. Direct costs to the state in 2018, the study suggests, should exceed $1 billion.

Brewer says "while it is true the entire nation has been mired in the crisis, only a handful of states -- including Indiana -- have been struggling with the epidemic while also facing an increasingly tight labor market, which challenges our hopes of realizing strong post-recessionary growth in an economy where labor is increasingly difficult to find."

The finding, which cover costs related to families, hospitals and government agencies, include:

  • Non-lethal opioid overdoses led to more than $224 million in hospitalization costs in 2016 alone and an additional $297 million in other opioid-related hospital stays.
  • Rehabilitation costs exceed $40 million annually.
  • Drug arrests and court costs total more than $13 million a year and incarceration costs are over $70 million annually.
  • In 2016, more than 5,200 Hoosier children were in foster care because of parental opioid misuse.
  • In 2016, potential lost wages due to opioid misuse totaled $752 million.

Brewer and Freeman say "indications from national and local sources suggest communities across the country and within Indiana continue to experience worsening conditions and increasing numbers of misuse cases."

You can connect to more about the research by clicking here.

  • Perspectives

    • Regional Investment Proposal Could be a Game Changer for Quality of Place Initiatives in Indiana

      While quality of place may be defined differently by people, a growing number of Hoosiers recognize the importance of this issue. In particular, the impact of quality of place on talent attraction and retention in a geographic area cannot be ignored. The future of every community is dependent on quality of place. Like many Midwestern states, Indiana is not growing at the same pace as areas in the southern and western regions of the United States.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • GPC is a subsidiary of Kent Corp.

      Ag Manufacturer Begins Expansion

      Iowa-based Grain Processing Corp. has broken ground on an expansion project in Daviess County, which has been more than four years in the making. The company is investing $70 million to expand its Washington plant, which could create up to 20 jobs when complete.

    • Chromcraft Revington Acquisition Complete

      A Colorado company has completed its previously-announced acquisition of West Lafayette-based Chromcraft Revington Inc. As a result of the $3.5 million deal, Chromcraft will operate as a wholly-owned subsidiary of...
    • Purdue Touts New Autism Research Center

      Purdue University says it will expand community programs, resources, collaborations and faculty members researching autism with the development of its new Purdue Autism Research Center. The center has 20 faculty members from the colleges of Health and Human Sciences, Education, Science and Veterinary Medicine.

    • IU Kelley Tops U.S News and World Report Rankings

      Indiana University's Kelley School of Business is ranked first among online MBA programs and online master's programs in the most recent U.S. News and World Report Best Online Education Program rankings. Ball State University's Miller College of Business also reached the top 20 in the online MBA rankings.

    • Skilled Nursing Facility Proposed for Merrillville

      A new $7 million skilled nursing facility is being proposed in Merrillville. Our partners at The Times of Northwest Indiana report the development would include five residential buildings outfitted with 12 beds, a dining area, beauty salon and spa.