Health insurers have been urged to cover the cost of blood sugar monitoring technology as the economic cost of treating diabetes in the region is forecast to surge to more than US$21 billion by 2040.
The growth of technology innovations including apps, wearables and virtual health systems allows patients and doctors to remotely monitor key metrics from weight to glucose levels, says the report by the Economist Intelligence Unit, which was sponsored by EY.
It is estimated that close to 20 per cent of the adult population in GCC countries is living with diabetes – compared to 11 per cent in the US, 5.3 per cent in France and 4.7 per cent in the UK.
If left unchecked, healthcare expenditure to treat diabetes is forecast to rise to $21.8bn by 2040 from $12.8bn in 2015, the report says.
“We should encourage insurance companies to cover these new technologies,” said Dr Bassam bin Abbas, head of endocrinology and diabetes at the department of pediatrics at King Faisal Specialist Hospital and Research Center in Saudi Arabia. “They should know in general that covering these devices will help them, not harm them [financially], as [greater use of these technologies] will decrease the number of complications and admissions to hospitals and emergency rooms. They are looking at short-term metrics. In the long-term complications will reduce, generating savings.”
business@thenational.ae
Follow The National's Business section on Twitter
