A new study being circulated reveals that the total impact of knee replacement surgery on both the recipient’s life and on society results in significant overall cost savings. The study states that for the average knee replacement, the cost of the operation by your knee surgeon is offset by savings of approximately $40,000, translating to an average societal benefit of $10,000 – $30,000 over a lifetime.
They estimated the total societal savings associated with knee replacement surgery by comparing costs for direct medical care and indirect costs, including lost wages from work and disability payments for treatments. Your New Orleans knee surgeon, Dr. Richard Meyer, advises that the majority of these savings come from the patient’s ability to go back to work, and remain in the working world longer, thereby increasing their earnings.
It also factored in fewer missed workdays and reduced disability payments due to the procedure. Higher earnings from being able to work longer represented about 85 percent of the benefits, which accrue mainly to workers and their employers.
With today’s economy, our aging workers are staying in the workplace longer, and with that, obesity rates are continuing to climb. Therefore, the need for total knee replacement surgery is expected to surpass the 3.5 million mark by the year 2030.
Total knee replacement is one of the most successful and life-enhancing surgical procedures available because it significantly relieves pain for over 90 percent of the patients who have the procedure, allowing them to return to work and tremendously improving their quality of life.
These patients who are suffering from osteoarthritis of the knee now have a way to compare direct and indirect costs between different types of surgery – both surgical and non-surgical. And they can now get a measurable look at the overall cost benefits of knee replacement surgery as it relates to economic savings.
Your New Orleans knee surgeon performs knee replacements on his patients at a time when he knows it will add value to their lives, allowing them to return to their family and to their normal work routine. But although it improves the quality of their life and allows them to be more productive and active, until now that value has been hard to measure.
This recent study gives knee replacement patients the opportunity to see the big picture and the effects on their daily lives going forward. If you’re interested in knee replacement surgery, call your New Orleans knee surgeon Dr. Richard Meyer today!