First up, let’s start by saying that this is by no means an article meant to scare you. The intention of this is simply to get you thinking about your health and what may be more important to you…money or potentially saving yourself from years of pain and even more money!

 

Let us start by making a few points:

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Focusing on $ LOSS instead of potential gains

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Too often people fixate on a number instead of a long-term potential outcome. They see it will cost them $x to train at a facility or have a consultation. This can be a bit of a trap because they become so focused on what they will lose in term of monetary value, they don’t think about what potential things they could gain from parting with the dollars!

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Cheaper isn’t always better

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If you want to choose a cheaper option for your training, we recommend you weigh up the pros and cons of making the change as opposed to just focusing on the monetary value. Will you receive the same level of service? Or if you are training by yourself, do you feel confident in that you know enough knowledge to do your own exercise routines and execute them properly and safely? If you have an injury or a chronic condition, are you able to give yourself alternatives when needed as well as design adequate rehabilitation programs?

 

Pay now or pay later

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Pay now or pay later in more ways than one! In our experience, real investment comes with a heavier price tag. If you want to maintain a healthier body for longer, treat it well now. By putting yourself in a position where you are getting a lower-quality service or fumbling through the dark on your own, you may need to consider the fact that your body may pay for it later.

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So, lets talk about the main reason of this article…the money! Is a gym membership or consultation worth it? Let’s look at the numbers…

 

Average Cost of Gym Membership

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A 1-year membership at Foundations Performance is approximately $1800-$2080 per year (based on the 12 Months Upfront and the Non-Lock In $40/week contract). Obviously as this is a membership based on group fitness classes with personal coaching, these prices are a little more expensive than the average 24/7 gym membership of roughly $10/week ($520/year). Nonetheless, both types of gym formats work out much cheaper than paying for treatment for diseases and illnesses that may have had their severity decreased if not prevented altogether with regular exercise.

 

What we want to put to you is this…how much do you think it costs to treat a chronic illness or disease on average a year in Australia?

 

We have done the hard work for you and put together the average figures for you (see Figure 1).

 

Average Cost of Cardiovascular Disease per year

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The average person who suffers from a Cardiovascular Disease (such as a heart attack) takes approximately 2 months off work and combined with the hospitalisation and rehabilitation costs can cost upwards of $4760-$5060 per heart attack.

 

Average Cost of Stroke Treatment per year

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Should someone suffer a stroke, it can cost $25,800 on average per year for treatment (Mathers & Penm, 1999).

 

Average cost of Cancer Treatment per year    

                                                                                        

The Cancer Council of Australia states that the average cost of care per case was $1,622 for the year before diagnosis, $33,944 for the first-year post-diagnosis and $8,796 for the second year-post diagnosis with considerable variation by cancer type.

After the initial treatment phase, the average cost of Cancer Treatment is roughly $4,474 per year rising to $49,733 during the last year of life (Goldsbury, et al, 2018).

 

Average Cost of Diabetes Treatment per year

 

The average cost of health care per person with diabetes annually is $4,025 if there are no associated complications. However, this figure can rise to as much as $9,645. For someone with Type 1 Diabetes, the average cost can be $4,669/year (Baker IDI, 2012).

 

Average Cost of Mental Illness Treatment per year

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The National Mental Health Commission stated that the cost of mental ill-health in Australia is approximately $4,000/year per person. Although some of the mental health services may be subsidised through Medicare, many people require other specialised mental health care services which can more often than not, be out of pocket expenses (Cook, 2019).

 

Average Cost of Joint Replacement per year

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The average separation cost of a hip replacement (the total cost of the surgery and the hospital stay) ranges from $19,439 to $42,007 per person depending on the surgeon. The average out-of-pocket charge can be anywhere between $0 and $5,567 with the average being approximately $1,800 if you have private health insurance!

In regard to a knee replacement, the average cost ranges from $17,797 to $30,285 with those who are privately insured paying anywhere between $0 and $5,137 ($1,502 on average!) (Medibank, 2017).

 

Average Cost of Arthritis & Back Pain per year

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Arthritis and musculoskeletal/connective tissue conditions such as Rheumatoid Arthritis, Osteoarthritis, Osteoporosis and Back Problems have the highest prevalence when compared to other diseases and illnesses (see Figure 1). Unfortunately, these numbers are slowly increasing every year most likely due to the increasingly sedentary lifestyles of Australians. 

In 2007, the estimated cost of treatment for someone with Rheumatoid Arthritis and Osteoarthritis was approximately $1,007 and $1,684 for the year respectively.

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People with Osteoporosis have a much heftier cost at approximately $9,958/year which would include hospitalisation and rehabilitation costs ($6,092 and $3,866 respectively). This figure does not include the costs of residential aged care that may be required should the individual need it! In addition, it does also not include costs of scans and procedures that would be required with this type of condition such as DEXA scans which at $130 a pop, are not cheap either!

Chronic Back Pain is something many of us know all too well so let’s check out the costs associated with this…approximately $1,626 per year!

Again, none of these numbers factor in the costs of supplements and prescriptions that may be needed with these conditions which can be an additional $60 per person per script fill (this is not including the roughly $670 the Government might chip in!).

 

Other costs you may not have thought of…

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So we have discussed the medical costs of having one (or more!) of these illnesses or conditions but there are many more factors to consider that could cause you some serious $$:

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• Productivity costs (from a reduced employment rate or loss of work-days which may also include superannuation loss and reduced taxation revenue)

• Welfare payments

• Carer costs

• Aids and home modifications

• Travel costs

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figure 1:Comparison of annual gym membership vs. treatment for health conditions and illnesses

 

 

 

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We hope this article has been sufficient in encouraging you to think about things from a different perspective in terms of the old "Spending vs. Saving" debate. 

Whilst keeping in mind that these monetary figures are forever changing depending on your individual scenario etc, there is definitely some value in seeing the comparisons in black and white! 

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REFERENCES

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1. Baker IDI (2012). Diabetes: the silent pandemic and its impact on Australia.

2. Cook, L. (2019). Mental health in Australia: a quick guide. Parliamentary Library.

3. Goldsbury, D.E., et al. (2018). Health services costs for cancer care in Australia: Estimates from the 45 and up study. PLoS ONE 13(7).

4. Mathers, C. & Penm, R. (1999). Health system costs of cardiovascular diseases and diabetes in Australia 1993-1994. Canberra: AIHW.

5. Medibank. (2017). How much does joint surgery cost.