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Financial Support for Cancer Patients

Financial Support for Cancer Patients

Financial Support for Cancer PatientsFinancial support for cancer patients is becoming a necessity. Americans spent $124 billion on cancer in 2011 and experts believe that number will climb by 66% in 2020.

Even patients with insurance many find that cancer treatments leave a heavy dent in their wallet. One in ten cancer patients will spend more than $10,000 in out-of-pocket care. Treatments costs as well as ballooning out-of-pocket expenses can add additional stress to an already difficult emotional situation. The two main factors that are increasing the cost for cancer patients are new and improved treatments, and an increase in survival rates which may have many patients seeking financial help.

Better technology has introduced new and exciting cancer drugs to the market. The average cost of a cancer drug was $4,500 per month in 2002. That figure is now closer to $10,000, with some treatments topping $35,000 a month. While doctors and patients may have high hopes for experimental or new treatments, the price tag can also be staggeringly high. Treatments can be double or triple the amount of traditional treatments, and yet may not be proven any more effective. The desire to try everything and anything to help may drive cancer patients to need financial support.

Increased survival rates have also increased the cost of cancer treatment and the need for long-term financial support. Survival rates for all types of cancers have increased over the past 25 years, which is good news for everyone. A longer life can mean added treatments, especially in follow up care. Even if a cancer patient is able to get through the initial hardship of cancer expenses, many will forgo follow up treatment because they don’t have the financial support.

Drew got financial support for cancer from friends and familyDrew and his family acquired huge medical costs during his battle with stage 4 colon cancer.  After planning, and researching his insurance, his family was still left with over $400,000 in cancer costs.  His online fundraiser raised over $81,000 from family, friends and strangers who rallied to support him.

If you are interested in learning more about financial support for cancer patients, we’ve gathered resources to help cancer patients find financial aid, and navigate the current financial help available.

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