The document discusses the economic impact of addiction and tools for financial capability in recovery. It notes that prescription drug abuse costs the US $55.7 billion annually, with costs including healthcare, lost productivity, and criminal justice. Addiction ruins lives by causing economic instability, debt, fines, and drained savings. The document advocates for including financial literacy and coaching in recovery plans to help rebuild financial lives, provide accountability, and allow for better long-term financial decisions through goal-setting and milestones. It provides examples of financial programs and online tools that can be resources.
Back care and back massage. powerpoint presentation
Struggle to Strength Summit on Rx Drug Abuse
1. Struggle to Strength
Reclaiming Lives, Rebuilding Communities
National Rx Drug Abuse Summit
Presented by:
Sharon Bird
Director, Public Policy, Community Ventures
Milt Sharp, Jr.
President, Ehome America, Community Ventures
4. The Problem
• The Centers for Disease Control and Prevention now labels the problem
an "epidemic."
• Deaths from drug overdose is the leading cause of injury death in the
United States.
• Every day in the United States, 120 people die as a result of drug
overdose, and another 6,748 are treated in emergency departments (ED)
for the misuse or abuse of drugs.
5. The Cost
• 46% was attributable to workplace costs (e.g., lost
productivity)
• 45% to healthcare costs (e.g., abuse treatment),
• 9% to criminal justice costs.
$55.7 billion
prescription opioid abuse
cost in 2007 in the U.S.
6. The Unfortunate Outcome
• Substance abuse is expensive.
Maintaining even a moderate habit of
drug abuse can cost thousands of dollars
annually.
• Funds to maintain a drug abuse habit are
taken from savings accounts, retirement
accounts, child education funds and
other living expenses.
7. The Unfortunate Outcome
Addictive behavior is often associated with:
• Economic instability
• Divorce
• Child/Spousal
• Missed Rent or Mortgage or Car Payments
• Carelessness with Spending Habits
• Increased Debt
• Hefty Fines for Legal Consequences
ADDICTION RUINS LIVES!
9. Financial Literacy
• Gaining financial literacy is a long-
term process that, for most people,
requires the assistance of institutions
outside the home.
• Results in more stable communities.
• Improved financial literacy results in a
higher standard of living over the long
term, including retirement.
10. Financial Coaching
A financial coach focuses on 3 key tasks to help their clients
become more financially independent and secure:
1. Assisting clients to set realistic goals.
2. Providing accountability by monitoring progress toward
those goals.
3. Helping clients “practice” by achieving key milestones
along the way to the larger goal
Adapted from: “Using a Financial Coaching Approach to Help Low-Income Families Achieve Economic Success” by J. Michael Collins
and Karen Murrell. July 2010.
11. Best Practice
As part of a patients recovery process identify financial
capability programs and services and integrate it as part
of the recovery plan
• Foreclosure Mitigation
• Credit Repair
• Homeownership Education and
Counseling
• Financial Literacy and Financial
Coaching
12. • Non Profits Certified by HUD to deliver
financial education, foreclosure
counseling and homeownership
education and counseling
• Non Profit Credit Repair Organizations
• Employer Assisted Programs
Tools
14. In Conclusion
Financial Capability as a part of the recovery process can:
• Help rebuild and recover a person’s financial life
• Reduce an individual’s financial barriers to recovery
• Allows for better financial decisions over the life course
15. Struggle to Strength
Reclaiming Lives, Rebuilding Communities
National Rx Drug Abuse Summit
Presented by:
Sharon Bird
Director, Public Policy, Community Ventures
Milt Sharp, Jr.
President, Ehome America, Community Ventures
Notas do Editor
References
Centers for Disease Control and Prevention. National Vital Statistics System mortality data. (2015) Available from URL: http://www.cdc.gov/nchs/deaths.htm.
Substance Abuse and Mental Health Services Administration. Highlights of the 2011 Drug Abuse Warning Network (DAWN) findings on drug-related emergency department visits. The DAWN Report. Rockville, MD: US Department of Health and Human Services, Substance Abuse and Mental Health Services Administration; 2013. Available from URL: http://www.samhsa.gov/data/2k13/DAWN127/sr127-DAWN-highlights.htm
Paulozzi LJ. Prescription drug overdoses: a review. Journal of Safety Research, 2012; http://dx.doi.org/10.1016/j.jsr.2012.08.009
Workplace costs accounted for $25.6 billion (46%), health care costs accounted for $25.0 billion (45%), and criminal justice costs accounted for $5.1 billion (9%).
Workplace costs were driven by lost earnings from premature death ($11.2 billion) and reduced compensation/lost employment ($7.9 billion). Health care costs consisted primarily of excess medical and prescription costs ($23.7 billion).
Criminal justice costs were largely comprised of correctional facility ($2.3 billion) and police costs ($1.5 billion).
The average "doctor shopper" -- costs insurers $10,000 to $15,000 a year, according to the Coalition Against Insurance Fraud.
When it comes to Medicare, ultimately these are taxpayer dollars that are being stolen.
Dealers also stockpile the drugs using bogus prescriptions and insurance claims. These costs get passed on to average Americans in the form of higher premiums
Integrating financial capability services into a comprehensive set of complementary services which can include financial capability