Work-related Injuries and Diseases: More Costly than Cancer or Diabetes

Posted by CFR on Tuesday, 27 March 2012 in Work Comp & Safety Matters

The annual cost of occupational injuries and illnesses in the United States is approximately $250 billion, according to a recent study published in the Milbank Quarterly.

To put that staggering total in perspective, that is more than the yearly cost of cancer ($219 billion), diabetes ($174 billion), strokes ($62.7 billion) or coronary heart disease ($151.6 billion).

The findings, which are based on 2007 injury data, show a massive 71 percent increase in occupational injury and disease costs since 1992, the last time a similarly comprehensive study was conducted. Not surprisingly, a significant portion of that 71 percent increase can be explained by the sharp systemic rise in health care costs.

Overall, the results call attention to the need for an increased emphasis on workplace safety and accident prevention.