Hearing aids may seem expensive, but they can be a valuable investment. In this article, we will take a look at the global and personal costs of hearing loss.
What is the Global Cost of Hearing Loss?
According to the World Health Organization (WHO), the global cost of hearing loss is estimated at nearly $1 trillion. A recent study estimated the global costs of hearing loss, which include:
- The cost of hearing treatment
- The cost of healthcare for additional health concerns exacerbated by hearing loss
- The cost of educational support for those with hearing loss
- The cost to the global market, as those with hearing loss are often excluded from the labor force.
The study determined that the total global costs of hearing loss were over $981 billion. The breakdown of these costs are:
- 47% of these costs were related to a loss of quality of life
- 32% of these costs were related to additional health concerns and lower overall health outcomes in those with hearing loss
- 19% of these costs were related to productivity, as those with hearing loss were more likely to have part-time employment or no employment
- 6.5% of these costs were related to hearing loss in children under the age of 14
Of these costs, 57% of the global costs of hearing loss were in low- or moderate-income countries. 23% of these costs were from the East Asia region alone.
Preventing Hearing Loss Not all hearing loss is preventable. However, noise-induced hearing loss can be prevented by wearing earmuffs at work or earplugs when mowing the lawn.
The benefits of hearing loss treatment on your wallet
This study found that approximately 83% of hearing loss goes untreated. Treating hearing loss can help you save money in the long run in several ways:
- Increased productivity: By treating hearing loss, you may be able to hear better at work, which can lead to increased productivity and improved job performance. This can potentially lead to increased earning potential and career advancement opportunities.
- Reduced healthcare costs: People with untreated hearing loss are at an increased risk of developing other health issues such as depression, anxiety, and cognitive decline. By treating hearing loss, you may be able to reduce the risk of these additional health concerns and the associated healthcare costs.
- Reduced costs associated with social isolation: People with untreated hearing loss may find it harder to communicate with family and friends, which can lead to feelings of isolation and loneliness. Treating hearing loss can help improve communication and reduce the costs associated with social isolation.
- Lower risk of accidents: People with untreated hearing loss are at a higher risk of accidents, such as falls, due to difficulty hearing their surroundings. By treating hearing loss, you may be able to reduce the risk of accidents and the associated costs.
- Improved quality of life: Overall, treating hearing loss can help improve an individual’s quality of life by making it easier to stay connected with loved ones, remain productive at work, and fully engage in daily activities. This can help to save money in the long run by reducing the costs associated with social isolation, reduced productivity, and other health concerns.
In conclusion, treating hearing loss can have a positive impact on both your personal and the wider economic costs. It can help increase productivity, reduce healthcare costs, reduce the risk of accidents and improve the quality of life.
If you suspect you may have hearing loss, don’t wait to seek treatment. It’s important to have your hearing evaluated by a professional. We invite you to visit our hearing clinic for a comprehensive hearing evaluation and to explore the different treatment options available to you. Don’t let untreated hearing loss hold you back from living your best life. Make an appointment today and take the first step towards better hearing.