From the northern and southern portions of Leyte Province, which are endemic for schistosomiasis, a total of 801 infected individuals were interviewed, examined, and classified into mild, moderate, severe and very severe forms of disease with an assumed loss of working capacity for each category. The frequency rate or number of spells of illness for the past year under observation were correlated with the degree of incapacity to get the total days lost per person per year. Following a series of computations, of which the disability rate was considered as the most important, a total of 45.4 days lost per infected person per year was arrived at. Treatment of the disease with praziquantel was carried out and the patients were followed up one year after treatment, at which time the same methodology was applied. The results show that the 45.4 days lost prior to treatment went down to 4 days lost. There was an economic gain of 41.4 days as a result of treatment. This can be expressed in terms of financial value if we consider half of the infected cases as breadwinners receiving a minimum wage. It should be noted that a number of assumptions in this study were made. It is, however, hoped that this work will serve as a guide and a starting point for others to carry out related studies on economic loss and subsequent economic benefits to justify budgetary requests/allocations for the implementation of various preventive and control measures.