Navigating the costs of cancer, in addition to the disease itself, may seem overwhelming. Whether it’s paid through out-of-pocket, insurance, or, most likely, a combination of the two, cancer treatments are usually expensive, even for people with government insurance like Medicare or Medicaid.
As cancer survival rates rise, so do the price tags of life-saving treatments. According to research, forty percent of cancer patients surveyed had difficulties paying medical bills, while 12% lowered the dose of prescription drugs to make them last longer.
This rising cost of cancer treatment is likely to create affordability challenges for many patients, particularly those who are underinsured.
High Cost of Cancer Treatment
The actual treatments are not even the only factor in cancer costs. Often, the costs for other parts of medical care account for a more significant proportion of overall treatment costs than those attributed to drugs.
Many patients and their caregivers experience indirect costs related to loss of income, transportation, and childcare, among other expenses. Collectively, these costs can impose a huge burden, making lots of cancer patients accumulate considerable debts due to their treatments. Some may find themselves cutting back on necessities to cover the out-of-pocket costs associated with their care.
In 2019, the national patient economic burden associated with cancer care amounted to $21.09 billion, comprising out-of-pocket costs of $16.22 billion and patient time costs of $4.87 billion.
The Impact of High Costs on Patients and Their Families
According to the American Cancer Society (ACS), each year in the US, about 1.8 million new cases of cancer are diagnosed. In 2018, cancer patients and their families foot the bill for an estimated $5.6 billion in out-of-pocket expenses for hospitalization, radiation therapy, surgery, chemotherapy drugs, and other treatments.
The Hutchinson Institute for Cancer Outcomes Research found that, because of high cancer care costs, cancer patients are almost three times more likely to declare bankruptcy. And those who go bankrupt are likelier to pass away than those who do not.
Unfortunately, even the best health insurance may not cover every medical expense a cancer patient may face. Considering this, patients may not get the treatment they need because the insurance won’t cover the cost of the drug or drugs that could lead to the best health outcomes.
Importance of Philanthropic Funding in Covering High Cancer Treatment Costs
Cancer is expensive, and there are not many options for paying for treatment and other related costs by a patient. Although some cancer patients may get financial assistance and insurance from family members, but even with this help, cancer treatments may still be too costly for some patients.
Many advancements in cancer research are due to philanthropic efforts and fundraisers. Without Philanthropy, the healthcare industry would struggle significantly to get the proper funding or equipment to continue providing care and supporting life-saving research.
Major Philanthropic Organizations Dedicated to Cancer Support
These are a few cancer organizations making significant impacts in the lives of those diagnosed with different types of cancers by focusing on research and funding to find a cure.
- Lustgarten Pancreatic Cancer Foundation (LPCF)
This nonprofit group is one of the biggest private funders of pancreatic cancer research globally. Since it started, they have invested more than $250 million into research. Their area of interest focuses on research across three pillars: early detection, new drug development, and personalized medicine.
- Breastcancer.org
Breastcancer.org has assisted 193 million people around the world in 22 years, with its website surpassing 25 million visits in 2021. Over 230,000 registered users engage in the Breastcancer.org discussion boards covering 160,000 topics.
They share reliable educational content, cover the latest research news, and offer multimedia resources for breast cancer patients. The platform provides personalized recommendations based on each person’s diagnosis and treatment details, creating a community where everyone can join the conversation.
- Pediatric Cancer Research Foundation (PCRS)
For over 40 years, this organization has awarded 225 grants for scientific research, funded 42 top institutions, and spent $57 million on pediatric cancer research. Some of their research’s results include curing advanced B-cell non-Hodgkin’s Lymphoma in children, antigen receptor or CAR-T cell infusions, and diagnostic testing for Juvenile Myelomonocytic Leukemia.
The PCRS helps and supports researchers working daily to make the future better and more understandable.
- Ovarian Cancer Research Alliance (OCRA)
This organization invested $110 million into ovarian cancer research, shared important information with 115,000 upcoming healthcare professionals, helped secure $3.7 billion for federal research and education, and supported 15,000 patients yearly through patient programs.
They fund research for better prevention and treatments, speak up for patients, and help survivors through diagnosis, treatment, and more.
- The National Pediatric Cancer Foundation
Through the Sunshine Project, the National Pediatric Cancer Foundation has started various clinical trials and tested many new combinations of drugs and therapies. Since 2005, they have funded over $37 million in clinical trials and translational studies. New compounds continue to be tested and hold great promise for children who have not experienced positive results under the standard treatment protocol.
- Colorectal Cancer Alliance
This organization has raised more than $1.6 million to support lifesaving programs in cancer prevention, research, and patient and family support services. They also coordinated over 800 hours of volunteer help to make a difference for many people dealing with cancer. They provide new and creative treatment options, gathers experts to improve patient experiences and clinical outcomes, and supports new ideas.
How Do Cancer Philanthropic Organizations Make an Impact?
According to research by the American Association for Cancer Research, the national cancer-attributable costs in the US are projected to increase by over 30 percent from 2015 to 2030, corresponding to a total cost of over $245 billion.
Now, a lot of cancer charities find creative ways to make it easier for patients to access resources or monetary assistance while they undergo treatment and try to become survivors. These nonprofits offer resources such as financial aid and raise money to fund vital research, oncology studies, laboratory equipment, and scientists. The more this research is equipped with adequate supplies, the better the chances of treatments that work.
How Does Qualify Health Help?
Qualify Health’s proprietary technology has an extensive database of the tens of thousands of charitable options available for patients. The ability to streamline the process of identifying assistance options with the combination of its advocates that complete all aspects of the financial assistance process for the patient removes an enormous burden from both hospital staff and/or the patient.