How much money would be saved if euthanasia was legal 2024?

As a healthcare economist with years of experience in analyzing the financial implications of various medical policies and practices, I am well-equipped to address the complex question of the potential savings from legalizing euthanasia. It is important to note that the calculation of such savings involves a number of assumptions and variables, which must be carefully considered to provide a comprehensive answer.

Firstly, the assumption that 2.7 percent of patients who die each year would opt for physician-assisted suicide is a significant starting point. This figure is derived from studies and surveys that attempt to gauge patient preferences regarding end-of-life care. However, the actual percentage could vary widely depending on cultural, religious, and personal beliefs, as well as the availability and quality of palliative care.

Secondly, the estimate that these patients would forgo an average of four weeks of life is also a critical factor. This assumption is based on the premise that individuals who choose euthanasia do so to avoid prolonged suffering and the associated medical interventions that might extend their lives but not necessarily improve their quality of life.

Thirdly, the medical costs in the last month of life are substantial, with the figure of $10,118 (in 1995 dollars) being a conservative estimate. This cost includes hospital stays, medications, medical procedures, and other healthcare services that are often intensive and expensive during the final stages of life.

To estimate the potential savings, we can perform a simple calculation. If 2.7 percent of the annual deaths, which is approximately 62,000 Americans, would choose euthanasia and thereby forgo four weeks of medical care, we can multiply the number of patients by the average cost saved per patient. Assuming the cost of medical care remains constant in real terms, the savings would be:

\[ \text{Savings} = 62,000 \times 4 \times \frac{10,118}{4} \]

This calculation provides an estimate of the total medical costs that would be saved if these patients chose euthanasia instead of receiving medical care for the final four weeks of their lives.

However, it is crucial to acknowledge that these figures are based on a number of assumptions and simplifications. The actual savings could be higher or lower depending on various factors such as changes in medical costs over time, differences in healthcare utilization among individuals, and the impact of euthanasia on the demand for healthcare services.

Moreover, the ethical and moral considerations of euthanasia cannot be overlooked. The decision to legalize euthanasia is not solely an economic one but also involves a deep reflection on the values and principles that guide our society's approach to end-of-life care.

In conclusion, while it is possible to estimate the potential medical cost savings from legalizing euthanasia, doing so requires a careful analysis of numerous variables and assumptions. It is also essential to consider the broader implications of such a policy change on society as a whole.

Assuming that (1) 2.7 percent of patients who die each year (62,000 Americans) would choose physician-assisted suicide, (2) these patients would forgo an average of four weeks of life, and (3) the medical costs in the last month of life for each patient who dies are $10,118 (in 1995 dollars), we estimate that ...Jul 16, 1998