Cancer care can be a physical, emotional and mental burden — and a financial one. The cost of cancer depends on many factors, including:
- the type of cancer
- the stage at which it is identified
- the course of treatment
- the patient’s insurance
Financial resources for cancer patients certainly exist, but vary depending on these and other aspects.
For instance, colorectal cancer is often treated with oral chemotherapy and, if needed, radiation therapy. Oral drugs often come with steep copays and are used longer than other treatments, meaning the patient has to be making payments for a longer period of time.
A treatment of oral chemo can cost a patient about $10,000, a number that continues to grow annually; a few decades ago, such a treatment typically only cost patients a few hundred dollars. Also on the rise is medication costs. As more effective drugs hit the market, patients often are on pill regimens longer — meaning more financial burden — and the drug prices jump to cover the cost of the research.
It’s essential that individuals looking for financial resources for cancer patients understand all of the factors at play before deciding on a financial course of action. Whether it’s speaking to financial consultants at your cancer-care center or taking advantage of programs like Life Credit’s living benefit loan, there are ways to cut the costs and concentrate on surviving and thriving.