Costs of Cancer

Cancer is costly. Paying for cancer care shaped the way people make daily decisions, and it also takes an emotional toll. It can take a toll on your health, your emotions, your time, your relationships – and your wallet. There will be unexpected charges, and even the best health insurance won’t cover all your costs.

⦁ According to the American Institute of Cancer Research (AICR) the price for one year of life increased to $54,100 in 1995, $139,100 in 2005, and $207,000 in 2013.

⦁ The U.S. Food and Drug Administration approved a treatment which shrunk tumors in 60 percent of patients in a clinical trial. The drug’s manufacturer, Bristol-Myers Squibb, will charge $141,000 for the first 12 weeks of treatment and $256,000 for a year of treatment, according to the Wall Street Journal.

⦁ According to the Medical Expenditure Panel Survey from the Agency for Healthcare Research Quality, cancer care cost an average of $85,201 per patient in 2010-2011 (When accounting for inflation that would be about $100,102 per patient in 2018).

⦁ Annualized mean net costs of care for Male 65+ years old Esophageal Cancer Patients $79,822 in 2010 US Dollars. NIH estimates adjusted for patient deductibles and coinsurance expenses. About $90,997.08 in 2018.

⦁ Newly approved cancer drugs cost an average of $10,000 per month, with some therapies topping $30,000 per month, according to ASCO, which discussed the costs of cancer care at a 2015 meeting.

⦁ 11 of the 12 cancer drugs the FDA approved for fighting cancer in 2012 were priced at more than $100,000 per year. (Journal of National Cancer Institute)

⦁ Patients typically pay 20 to 30% out of pocket for drugs, so an average year's worth of new drugs would cost $24,000 to $36,000 in addition to health insurance premiums.

⦁ Average costs of radiation therapy: 1 Month $13,209, 2 Months $24,150, 3 Months $38,732 (Avalere Health study)

⦁ Average costs of chemotherapy: 1 Month $13,828, 2 Months $61,661, 3 Months $102,395 (Avalere Health study)

⦁ Drugs aren't the only expense. Patients must also pay for drugs that mitigate the side effects of chemotherapy, pay provider and facility fees, and often lose income when they miss work or lose their jobs.

⦁ 67% of the total costs of cancer treatment are non-medical(American Cancer Society)

⦁ According to UnitedHealthcare data, drugs themselves account for only 24% of direct cancer costs. Hospital and outpatient facilities account for 54 % of costs, and physician fees account for 22%.

⦁ Costs of surgery averages ranging from $14,161 to $56,587 (MayoClinic)

⦁ Cancer patients are 2.5 times more likely to file for bankruptcy than people who don't have cancer. A study presented at the 2014 Palliative Care in Oncology Symposium found 27% of cancer survivors reported suffering a financial problem like debt or bankruptcy. Another 37% reported modifying work plans or delaying retirement.

⦁ A survey by the American Cancer Society revealed that 25% of cancer patients in the U.S. put off getting a test or treatment because of the cost.

⦁ The same survey by the American Cancer Society found that 1 out of 5 respondents over the age of 65 said they had used all or much of their savings on cancer care.

Medical expenses for things like:

⦁ Provider visits

⦁ Lab tests (blood tests, urine tests, and more, which are usually billed separately)

⦁ Clinic visits for treatments

⦁ Procedures (for diagnosis or treatment, which can include room charges, equipment, different doctors, and more)

⦁ Imaging tests (like x-rays, CT scans, MRIs, PET scans, nuclear imaging, ultrasounds, which may mean separate bills for radiologist fees, equipment, and any medicines used for the test)

⦁ Radiation treatments (implants, external radiation, or both)

⦁ Drug costs (inpatient, outpatient, prescription, non-prescription, special nutritional supplements, and procedure-related)

⦁ Hospital stays (which can include many types of costs such as drugs, tests, and procedures as well as nursing care, doctor visits, and consults with specialists)

⦁ Surgery (surgeon, anesthesiologist, pathologist, operating room fees, equipment, medicines, and more)

⦁ Transportation and travel (gas, tolls, parking, taxis, bus, train fares, or airplane fares to get to appointments & treatment center. Hotel or other lodging. Meals while away from home. Communication costs, like copies of medical records. Special equipment or clothing.)

⦁ Family and living expenses

⦁ Employment, legal, and financial issues (Loss of wages by the patient & caregiver, learning about employment rights under the law, figuring out medical expenses to prepare income taxes, writing a will)

⦁ Home care (can include equipment, drugs, visits from specially trained nurses, and more)