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

    • Truck Driver Supply Impacting Cargo Hauling Demand

      The U.S. unemployment rate has moved down to 3.9 percent, which is its lowest level since December 2000, according to the U.S. Bureau of Labor Statistics. Great news! Maybe not. There are business sectors that need employees due to constraints in the labor market - namely truck drivers. The level of employment in the truck transportation industry is essentially unchanged since mid-2015, according to the bureau. And the impact is being felt.

    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

    • Triple XXX Root Beer Appears in Prime Time

      A soft drink that carries the name of an iconic West Lafayette restaurant has been featured on a national television series. In a message on the Triple XXX Family Restaurant's Instagram page, co-owner Carrie Ehresman said the recent appearance of Triple XXX Root Beer on NBC's "Chicago Fire" was not product placement. She said the show's producers reached out through the restaurant's website and "we weren't sure we'd make the final cut until it aired!"

    • Mark Sandy became Ball State's director of intercollegiate athletics in 2015.

      Ball State to Introduce Next AD

      Ball State University Monday will name a new director of intercollegiate athletics. Mark Sandy, who has served in the position for more than three years, announced his retirement in January. During Sandy's tenure, eight teams won Mid-American Conference league championships or division titles. Three new facilities projects have been completed during his time in Muncie...

    • On-Air

      Find out when and where you can watch and listen to our reports.

    • Simon recently opened outlets in South Korea and France.

      Simon, Marriott Partnership Grows

      Indianapolis-based Simon Property Group Inc. (NYSE: SPG) is expanding its partnership with Maryland-based Marriott International Inc. (Nasdaq: MAR). The companies have announced plans to open at least five new hotels at Simon shopping centers throughout the country over the next several years. 

    • The facility also features a computer training lab, a bistro and Bosma's retail store.

      Bosma Launches Salesforce Training Program

      Indianapolis-based Bosma Enterprises has launched a program to train people who are blind or visually impaired to be Salesforce administrators. The organization says BosmaForce involves an 18-week online course available throughout the United States. Bosma Enterprises Chief Executive Officer Lou Moneymaker says people who are blind of visually impaired face a 70 percent national unemployment rate, and the BosmaForce program aims to create pathways to high-paying, in-demand careers.