How to talk to your patients about finances and the cost of diabetes supplies

It's no secret that diabetes can be financially burdensome for many patients, yet money can be a sensitive subject for healthcare providers and patients alike. Patient compliance with plan of care increases as complexity, time commitment, and financial requirements decrease. So, it's important for healthcare providers to consider a patient's ability to afford treatment when prescribing medications as well as supplies. Consider the tips below and start talking with your patients about the financial aspects of diabetes care.

Rising cost of diabetes care

The American Diabetes Association estimated that the direct cost of diabetes care in the United States in 2017 was $237 billion dollars. This is almost double the 2007 estimate, at $116 billion dollars. The same report tells us that 25% of U.S. healthcare dollars are spent on diabetes, and that the cost of caring for a single person living with diabetes in the U.S. is approximately $16,752 per year.

Out-of-pocket cost of diabetes care

A 2018 study of patients covered by private insurance showed that the average out-of-pocket cost for type 1 diabetes (t1d) care was approximately $2,500 in 2018, and 8% of patients spent more than $5,000 to care for their t1d. Factors affecting out-of-pocket costs included:

• Insurance coverage. High-deductible health plans are associated with higher out-of-pocket costs.
• Age of the patient. Children's expenses for diabetes supplies are almost twice that of adults.
• The use of insulin pumps, continuous glucose monitors, or both. Increased use of technology is associated with increased costs.
  
  

Every good healthcare provider is concerned about their patients' mental and emotional well-being as well as their physical health. The last thing providers want to do is create additional burdens or barriers. Given these costs, it's important to consider a family's ability to purchase medications and supplies as you create a plan of care.

How to talk to your patients about the cost of diabetes

Conversations about money can be awkward in the best of circumstances. In a medical clinic, patients often feel stressed and may be outside of their comfort zone. They may perceive their healthcare providers as highly educated and as part of a different socioeconomic class, and that can make them feel uncomfortable. It's important to bring up the subject of the cost of care, even if your patient doesn't mention finances. Here are a few tips for approaching the conversation:

• Ask an open-ended question. "What concerns do you have about the cost of your diabetes medication or supplies?"
• Another way to start a conversation might be, "What's it like for you to handle all the costs and co-pays that come with taking care of your diabetes?"
• Explain the benefits of generic options and how they compare to more costly name-brand supplies.
• Use resources that save you time and save your patients money, such as a diabetes supply company that helps your patients navigate their health insurance program.
  
• If your organization has social workers on staff, they may be particularly adept at helping lower-income clients access care essentials.
  
  

Patients who can't afford the prescribed treatments don't follow through, and they may choose not to return for follow-up visits rather than admit that they can't pay for medications and supplies. Lack of supplies or medications, as well as not receiving medical care, means poorer outcomes for the patient. It also means more difficult care management for the provider and a loss of time and money for both parties.

It's better to talk openly about finances and prescribe medications and supplies the patient can afford. Not only will patient compliance increase, but your patient's trust in your care for them as a whole person will be elevated as well.

To learn more about diabetes treatments and supplies, check out this article on CGM therapy.