Have you ever considered how you’d be able to manage the financial burdens
of paying for a serious emergency?
Dealing with a life-limiting condition like kidney and liver failure,
heart disease, and other problems can be very costly. Medical problems in general can be expensive,
but in terms of sheer expense, cancer can be one of costliest diseases you can
Take a moment to think about some of the basics you have to pay for to treat
- Doctor’s appointments
- Lab tests
- Clinic treatments
Making a sound financial decision about your cancer treatment plan may
sound difficult, but a recent development may help make it easier. Oncologists and researchers from the
University of Chicago have created a
tool to estimate
the general expense of a cancer diagnosis and treatment. With the help
of over 150 cancer patients, and their own experiences financing their
treatment, they developed the Comprehensive Score for Financial Toxicity (COST).
On average, cancer survivors have higher medical expenses, usually as
much as $3,000 to $4,000 every year, compared to average medical expenses of
other life-limiting conditions. This is
an issue because many cancer patients have decreased income due to an inability
to return to work, or the need to reduce hours to continue with treatments. The study showed that the problems associated
with cancer costs aren’t limited to people of a certain income level. People
from all walks of life have problems managing medical costs. Sometimes patients that have higher income
levels opt for more expensive treatments and assume that they can afford them.
Unfortunately, as costs pile up, they end up finding themselves in debt.
COST is designed to give people a realistic and affordable way to plan
for cancer care costs. As health care
prices rise, it will become more difficult to find a way to budget for
care. This tool can help make a lot of
difficult financial decisions a little easier to handle.
Labels: Cancer, financial help for cancer patients, sell your life insurance