Do you Know what is the Impact of Flu on American Economy?

October is approaching and together with it arrives even the flu. Everyone is worried how the flu will be this year and are people rightly protected against the flu. There is a big debate going around for the flu vaccine: Is it worthy to take it? However, some pharmaceutical companies speak up for selling up more flu vaccines as of mid-September this year, compare to previous years.

Some news arrives from the University of Wisconsin. Researchers there have studied the effect of flu vaccine in the economy and society and here are what they found out:

Protection from flu through vaccination does have an impact on three aspects:

  • Number of deaths/year
  • Number of work hours lost/year
  • Social impact

For the sake of this article, we shall concentrate on the impact on work hours. Researchers say that: 1% INCREASE IN FLU VACCINATION HAS SAVED 14.5 MILLION WORK HOURS TO ECONOMY. If we calculate it with average pay/hour, THERE ARE $393 MILLION SAVED IN OPPORTUNITY COSTS only by increasing the vaccination rate by 1%.

This is fantastic news for businesses and insurance companies. It takes only small efforts on the business side to ask or supply their employees with flu shots. This way they will avoid sick calls during flu period (October – March) and will profit on opportunity costs. One guy mentioned that HR of his company have created a pharmacy-room with two pharmacy technicians that gave free flu shots to all employees.

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And if all the labor force in the US will be vaccinated, they count for 48.5% of the population, which would be a great improvement for the national vaccination rate for adults falling around 57% as of last year’s statistics.

Physicians stand for the protection value of the flu vaccine and continue to advocate its usage to the general public. But, I believe the results of this recent study will have a much higher effect on the pro-activity of businesses to protect their employees against the flu. We shall wait to see what will be the vaccination rate for the 2019 -2020 season. Till then:

BE GOOD & STAY AWAY FROM FLU!

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