Cancer is one of the most dreaded diseases,all over the world. It is also among the 10 most expensive diseases to treat.
Life expectancy of a cancer patient has increased now, thanks to advancements in medicine. Instead of 1 out of 2 in the 70s, now the ratio of cancer deaths is 3 out of 10.Because of increased knowledge about the disease and more advanced technology,better treatments are available for cancer patients.
However, cancer treatment comes with a considerably large price tag.The projected cost of cancer treatment in 2020 in America is $158 billion.
New drugs can often cost $100,000 or more per year, and patients are now taking it at an earlier stage than before because of heightened awareness, and early detection of the disease, sometimes for rest of their lives. Drugs for treating cancer are often customized according to the patient’s genetic makeup, which increases the expense.
In addition to the drugs, radiation therapy costs are also very high,because superior technology obviously comes at a high price.
Because of the expense of cancer treatment, patients often find it difficult to decide on the course of treatment. While discussing the treatment, they are afraid of choosing the lower priced treatment for fear of getting less effective treatment, which may not be the case. The hospital staff also may not always bother to explain to the patient that both treatments may have the same results.
The worry about the expensive treatment also makes it difficult for patientsto focus on their recovery. It is not uncommon to have patients even stop their treatment when their insurance company decides to stop paying for the treatment.
Many people declare themselves bankrupt after cancer treatment because of the enormous bills that use up all their savings.
Nevertheless, there are certain steps that can be taken to avoid bankruptcy. Financial counselors provide the following pointersfor cancer patients:
- Determine how the diagnosis of cancer is going to affect your income.
- Will your health insurance policy cover the treatment costs?
- Make sure that know all the clauses in your health insurance policy for coverage of work absences.
- If needed, get a new/additional insurance plan.
- Prioritize your bills.
- Request credit card companies to defer the bills.
- Claim your rights; take the insurance company to court if you feel you have been cheated.
- Start budgeting non essentials.
- Make sure that you understand the finer prints of insurance and hospital policy, and discuss at length how treatment will be financed.
- Talk with your social worker. They are trained to help find financial resources for the patient and their families.
- Talking with social workers will also reduce the psychological and social burden.Social workers are also trained in dealing with actual costs of drugs. They may help you get the same generic drug at a lower cost.
- Take care to save and file all your bills.
- When diagnosed with cancer, the cost of treatment may not be the first thing that you think of. But when you do, do not be shy to ask for clarifications from the doctors, hospitals, nurses, insurance and social workers.
Apart from these few pointers, the most important thing to do after being diagnosed with cancer is take a little time and think of the options available for the treatment. Spend time on reviewing the insurance policy, contact financial agencies for the details of aid available, and seek help from friends and family.
Most of all, do not lose heart. Even if you have been diagnosed with cancer, remember that help is available. Take the initiative to find out all the available options, and your treatment can progress without any problems.
Author Bio: Sameer Gupta is a medical writer who writes well-researched, in-depth cancer articles which provide relevant information to help patients combat the deadly disease.
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