The economic toxicity of cancer is increasing. Here’s how we reduce it | Wilnesh News

Cancer can deplete an individual’s physical, emotional and financial health. Given the impact of cancer on patients and those in their lives, including their employers, CEOs should take note and take action to reduce the burden of cancer.

in a American Cancer Society Cancer Action Network ResearchNearly half of cancer patients and survivors report that they are burdened by significant medical debt. many interviewees Negative balance of at least $5,000 More than a year after cancer treatment, 42% of cancer patients Deplete their life savings within the first two years after diagnosis.

Financial hardship caused by cancer can also lead to “financial toxicity,” where the cost of treatment forces individuals to make trade-offs that affect their chances of survival. These may include abiotic factors Examples include skipping or cutting cancer medications in half to extend supply, or not being able to complete cancer treatment as planned due to the high cost of transportation to a cancer treatment center or living near a cancer treatment center. This model is unsustainable and Rising costs The emergence of new, life-saving cancer therapies will bring additional economic toxicity and pose an increasing threat to patients’ lives.

The financial toxicity of cancer care not only affects individuals, but also negatively impacts their employers. As a health insurance provider almost half of the countryemployers and unions bear much of the financial burden of cancer. today, Cancer is a major healthcare cost for large and medium-sized organizations In the United States, the burden is growing.

For the first time in history, More than 2 million Americans will receive a new cancer diagnosis in 2024. Young people diagnosed with 17 major cancers. These individuals may still remain in the workforce and use employer-sponsored health insurance. As a result, employers are asking what they can do to reduce the burden of cancer on their employees and their bottom lines.

When cancer is diagnosed early, patients, families and employers all “win.” More than just detecting cancer early Improve chances of survivalsignificantly Reduce the cost of care. Overall, the average cost of treatment for a patient diagnosed with Stage IV (cancer that has spread throughout the body) is Increase $156,000 Compared with patients diagnosed in the first stage, the disease is localized at this time. The first year of colorectal cancer treatment affects More than 150,000 Every year there are individuals in the United States, and is rising Among younger age groups, the average cost is $111,000 When diagnosed in the first stage, there are approx. 90% five-year survival rate. In comparison, the average cost of treatment for stage IV colorectal cancer is $256,000 The first-year survival rate and five-year survival rate are respectively Below 20%. Evidence shows that cancer mortality will decrease if individuals take advantage of existing prevention, early detection, and cancer treatment strategies 30% to 50%.

These statistics are profound and provide strong evidence that employers and individuals working together to encourage cancer prevention and early detection will improve health and reduce health care costs. Today, our best tool to achieve this goal is screening. Follow recommended screening guidelines—such as those publish Presented by ACS – The U.S. Healthcare System Can Be Saved $26 billion per year Avoid treatment costs.

Despite the importance of early detection and the proven value of screening, access to preventive care remains a barrier to better outcomes. Currently, a staggering 65% of eligible Americans do not receive recommended cancer screenings. Covid-19 restrictions delayed or blocked 9.4 million Cancer screenings in 2020 alone could lead to Late diagnosis Usually it is discovered earlier.

There are also logistical and social barriers that can cause financial toxicity and impact a person’s ability to get screened. People may need to take time off work or arrange childcare to attend their screening appointment. They may need to weigh potential future treatment costs against the need to pay rent. some may not be aware They are eligible for screening, but the stigma and fear associated with cancer screening prevent some from seeking treatment. Inequality varies from person to person socioeconomic status — including where they live, income, education level, access to health care and healthy foods, and other social determinants of health — create barriers to preventive care. To realize the benefits of early detection to individuals and organizations, we must develop new strategies to remove these barriers.

ACS is committed to tackling cancer, approaching the challenges of improving care and reducing economic toxicity from multiple angles. Similar or supportive actions by U.S. employers will increase our collective impact in combating the burden of cancer.

To improve the goals of early detection, ACS recently partnered with Color Health Joint venture to improve access to screening and preventive care through employers and unions. The program aims to increase awareness, accessibility and affordability of cancer screening and early detection by making care more accessible and convenient for employees through home testing kits and care navigation support throughout the cancer journey . Notably, organizations utilizing the ACS-Color program experienced a 77% increase in cancer screening compliance.

In addition to direct screening measures, initiatives such as road to recovery and ACS Hope Inn Eliminate the burden of transportation and accommodation costs for cancer treatment. other partners through bright edgeACS is a donor-funded innovation and investment arm that provides a broad range of solutions to help people navigate the financial complexities of cancer throughout their care continuum. One of the BrightEdge portfolio companies, Customized medicineprovides a platform to help patients find resources to pay for treatment and reduce out-of-pocket costs. Further investment aims to incorporate patient voice into treatment and diagnostic development to enable the next generation of sustainable cancer innovations that reduce financial distress for patients.

Advocacy is also key to reducing financial toxicity. ACS Cancer Action Network Advocacy Medicaid expansion Help currently uninsured individuals access screening and preventive care. To lower the cost of prescription drugs, ACS CAN has also successfully advocated for “smoothing” policies that allow Medicare beneficiaries to spread the cost of prescription drugs over a year. By making payments more manageable for patients, we remove a key element of cancer’s financial challenges.

Cancer can affect One in two women and one in three men at some point in their lives. By promoting guidance-recommended screening and initiating programs that make early detection affordable and accessible, employers can offset financial toxicity and improve outcomes for people across the country. When employers help employees get screened, they bring us one step closer to ending cancer and its costs.

—Author: Karen Knudsen, CEO of the American Cancer Society. She is also a member of the organization CNBC CEO Council.