- Financial Distress in Cancer Care
Financial Distress in Cancer Care
More than one-third of insured cancer patients receiving treatment faced out-of-pocket costs that were greater than they expected and those patients with the most financial distress were underinsured, paying almost one-third of their income in health care-related costs, a research letter published by JAMA Oncology reports.
The financial burden of treating cancer is well known and even insured patients face financial burden and a worsened quality of life. Underinsured patients (those who spend more than 10 percent of their income on health care costs) are a growing group.
Fumiko Chino, M.D., of the Duke University Medical Center, Durham, N.C., and coauthors conducted a survey of financial distress and cost expectations among 300 insured patients with cancer presenting for treatment at a comprehensive cancer center and three affiliated rural oncology clinics. Nearly all of the patients had private insurance or Medicare and the rest had Medicaid.
Of the patients, 49 (16 percent) reported high or overwhelming financial distress. The median relative cost of care (defined as monthly out-of-pocket costs divided by income) was 11 percent for all patients, 31 percent for those with high or overwhelming financial distress and 10 percent for those with no, low or average financial distress.
“Facing unexpected treatment costs was associated with lower willingness to pay for care, even when adjusting for financial burden. This suggests that unpreparedness for treatment-related expenses may impact future cost-conscious decision making. Interventions to improve patient health care cost literacy might impact decision making. … Future studies should test interventions for cost mitigation through shared decision making,” the research letter concludes.
DISCLAIMER: Bankix Systems Ltd is the registered name of a Canadian firm since 2003, and bankixsystems.com is its OFFICIAL website. Besides these entities, we have no relationship with anyone, business, website, or any other entity anywhere in the world, claiming to be Bankix Systems, or using a similar name, and creating the impression that it has some connection with our company. We do not endorse and are therefore, not responsible for any act or lack thereof by any such entity. Bankix Systems Ltd is also not responsible for the content of the description of products and services linked to our site nor does it necessarily endorse them. The information here provided is not for diagnosing/treating your health concerns. Kindly contact your doctor or health care professional for all your healthcare requirements.
Contents © 2003-2018, BankixSystems.com. All rights reserved. Unauthorized reproduction strictly prohibited. Information based on best available resources. Opinions are current and subject to change.