Pets Make Life Better; Help Save Billions of US Dollars on Doctors, Hospital Bills: Study

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Countless of researches have indicated the benefits of owning pet, including a recent study that showed its positive effects on kids with mental illness, as previously reported on Latinos Health. Now, a new study has revealed another good result for keeping pets around the house and it is one that centers on the economic benefits of pets and health care cost.

The research, which is conducted by the Human Animal Bond Research Initiative Foundation (HABRI), has shown that pet ownership has not only been valuable to health as it has also brought financial incentives to humans. In fact, it has saved more than $11.7 billion a year in health care costs.

"There was abundant research to show that pets have a positive effect on our health, but this is the first time that anyone has looked at the impact on the U.S. health care system," said Terry L. Clower, one of the authors of the study, via Herald Media. "Our analysis shows that pet ownership produces meaningful savings for total health care costs in the United States."

Researchers discovered that pet owners are likely to have less doctor visits than nonpet owners, thus saving them $139 per consultation. Additionally, because they tend to pets on a daily basis, they're also likely to reduce the risk of developing obesity as physical exercise is part of the responsibility of pet ownership -- they need to walk their dogs regularly. The practice helps trim down obesity related health care costs by $419 million annually.

Researchers took into account other health studies relating to cholesterol, stress, cardiovascular disease, hypertension and psychological issues, and then calculated the economics of it to arrive at their findings, per HABRI's press release. The researchers also noted that their "analysis is limited and conservative" but concluded that "health care cost savings associated with pet ownership is likely to be even greater."

Pet ownership is not limited to having dogs and cats, as taking care of fish, reptiles and farm animals also bring the same health and financial benefits. This accounts for 65 million households in the United States and Europe, according to the Pet Food Manufacturer's Association in a 2014 report. In the recent year, at least 8 million households in the U.S. have become new pet owners, according to the American Pet Products Association (APPA).

"The body of science validating that pets are good for us is growing with strong research in numerous areas of health," said APPA President Bob Vetere via Pet Food Industry. "We are extremely optimistic about the future of pet ownership and the industry that stands to serve those pets and their owners."