The Financial Impact of a Cancer Diagnosis
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A cancer diagnosis can cause significant financial hardship and stress, but the Managing Cancer at Work nurse navigators are here to help manage these burdens. Here are some facts about the cost of cancer care, the financial impact, and how the nurse navigators can help!
Cost of Cancer Care
- Cancer care costs rising two to three times the rate of other health care costs
- New cancer therapies can cost more than $60,000 per month
- Average monthly cost per drug is $10,000
- Insurance companies have shifted cost to patient by increasing premiums, deductibles, copayments, coinsurance, and other out of pocket expenses.
- 30% of cancer survivors report financial hardship.
- Bankruptcy rates are 2.5 times higher than those without a history of cancer
Unique Challenges to Working-Age Survivors
- The ability to work full time may be affected
- Disabilities from cancer may limit ability to perform work related tasks
- High copays may cause patients to delay or forego their care and have a negative effect on health outcomes
The Nurse Navigators Can Help:
- Identify sources of financial assistance
- Provide financial counseling
- Provide guidance to copay and medication assistance programs
National Cancer Institute (2017). Division Of Cancer Control & Population Sciences Office Of Cancer Survivorship–Statistics.
American Cancer Society (2015). Employment And Income Losses Among Cancer Survivors: Estimates From A National Longitudinal Survey Of American Families.