Cancer Drug Costs

These prices are out of control. Upwards of $80,000 per patient per year or treatment protocol. Yes insurance companies pay the bulk of the costs but patients are hit with 20-30% out of pocket co-payments. Since the average family income in the US is $52,000, how are we supposed to pay for this? Can you only beat cancer if you are rich? That really creates a chasm between the 'haves' and 'have nots'. And the current insurance system cannot afford them either.

There is a new call by a group of doctors, oncologists, to get a better control of the pricing set by the drug manufacturers. This was announced in a recent issue of Proceedings published by the Mayo Clinic. It was also written about in Time Magazine and there is a petition on Change.org.

They offer a substantive set of arguments for the pricing changes that are definitely worth the read. They also discuss the high costs of developing drugs that are borne by the manufacturers and how that should be changed as well. They are not just firing at the drug manufacturers but providing multiple recommendations:

"Among the recommendations are allowing Medicare to negotiate prices, permitting cancer drug imports for individual patients, and passing laws to keep drug companies from delaying access to generic drugs."

My only complaint on this issue is that they focus on cancer drugs and not on the other high priced drugs out there. In my opinion, the changes should effect all drugs.

Please go read the articles and sign the petition.

The Costs of Cancer

So you get diagnosed with cancer and all of a sudden you put your entire life on hold and you grapple with side effects, hair loss, constant aches and pains, surgical recovery, and giant medical bills. You rob Peter to pay Paul so to speak every month as you juggle your bills. You take time off work to cope with treatment and your income tanks and money is even tighter. You try to save for retirement as you wonder if you will be there for retirement.

But picture this if you were in college or just out and didn't really have a job. You are dependent on your parents for money. You alternate between your dorm room, your parent's sofa, and the infusion room. You try to figure out how you are ever going to have a career, if you are going to have a career. You hope you do not have to declare bankruptcy before 30 just to stay solvent because you have student loans and medical bills. At the same time you wonder if you will be around to turn 30.

I have been in both situations. At 19, I was diagnosed with thyroid cancer, but was still on my parent's health insurance and it took a summer to deal with the bulk of treatment, but have had follow up's every year or more often since. Medical bills and student loans were not as sky high back then but I did go through a lot of angst as a result of my diagnosis.

Then at 45 I was diagnosed with breast cancer and wondered how to pay bills as I job hunted through treatment. I haven't worked full time since. Money is much tighter now. Saving for retirement has been less important. With two cancer diagnoses, retirement looks a bit iffy at times.

At some point I learned about a wonderful organization called The Samfund. This group helps those young adult cancer patients figure out their financials and provides some grants. How do they know how to do this? The founder has been through this herself. I just wish they were around for me decades ago.

Being told you are cancer free only makes you find out about all the costs you still have to pay - financial, emotional, and physical.

More on cancer costs

A few days ago, I blogged about the costs of cancer. But there are lots more costs of cancer that are not just financial.

There are physical costs that include surgical scars, damage to your body from treatments, and more.
The emotional costs are things like PTSD which takes a lot to get through. Neither of these can ever really go away. You just end up covered in scars inside and out.

So well-intentioned people do things like give free trips and events for those who were diagnosed with cancer. These are the people who offer trips to us cancer people.

If you have been diagnosed with cancer, you can go to events like the Stowe Weekend of Hope for free the first year. Then you get an incredibly discounted rate for future years. Don't get me wrong, the Stowe Weekend of Hope is a wonderful event with so many resources for those with cancer. But I just wish I didn't have the medical history which allows me to go so cheaply.

So as we dig deep in our financial pockets we also have to cope with all the other costs and you can't just declare bankruptcy and walk away from your emotional and physical costs.