Managing expected and unexpected costs brought by cancer

Health care should not cost a fortune, nor should it bankrupt individuals and families. Moreover, access to specialist doctors and care should not depend on financial capacity or accessibility. 

By: Preferred Global Health

Imagine if you could ensure that you receive appropriate recommendations from well-credentialed professionals for critical illnesses like cancer. Imagine if this treatment didn’t depend on your personal network, your financial ability, or what’s only available through your employment or government benefits.

Rather than only reimbursing certain procedures from a pre-selected provider network, imagine having coordinated, financed access to an international and local specialist care system of top-ranked hospitals. This even includes distinguished doctors at the forefront of research and treatment and personalized care management.

Yet so often, total expenses for diagnosing, treating, and recovering from critical and chronic illnesses like cancer or heart disease can reach exorbitant amounts.

It is not uncommon for individuals and families to spend their own money for treatment, rehabilitation, or post-treatment as they adapt to living with a cancer diagnosis. Income can be affected if there are lost wages, loss of career advancement, or time taken off from income generating activities. For instance, going from a double income home to a single income one can hit hard and savings for the household can also be wiped out.

Traditionally, cash provided upon diagnosis by insurance policies helped address education, housing, or other costs that might be jeopardized or displaced by immediate health care needs. Sometimes known as ‘lump sums’, these financial benefits may also be used to pay for new expenses such as caregiving costs for themselves or for their children. Such expenses could also be for items to help manage the secondary effects of cancer. These include wigs, special food or fertility treatments, and transport and lodging if individuals need to travel far or spend time near a hospital.

With more than 200 different types of cancer, there is no ‘one size fits all’ treatment and the costs of cancer treatment vary significantly.

There are however a few consistent factors that contribute to overall costs of care.

Treatment

·         Treatment plan – the type of treatment (surgery, radiation, chemotherapy, immunotherapy, or a combination of these treatments) and how much treatment is needed (duration, number of drugs, number of surgeries, etc.) all influence the overall cost. The stage at which patients are diagnosed is also important to determine treatment plans, outcomes, and costs.

·         Geographic location – costs differ based on where patients live and how many health care providers are available in that area. Areas with higher costs of living generally also have higher treatment costs, while rural areas tend to have fewer cancer specialists or hospitals than urban areas.

·         Treatment setting – charges for treatment are based on many factors and can vary whether care is delivered in a hospital, a clinic, or a doctor’s office.

Types of cancer treatment costs

Surgery, radiation, and pharmacological therapy (including hormone therapy, immunotherapy, chemotherapy, and supportive care like pain or anti-nausea medication) are the three most common approaches to cancer treatment.

Fortunately, there have been a lot of improvements in science and cancer treatment is a very active area of research and development for teaching university hospitals, governments, and industry researchers. Decades of investment and research is producing a steady stream of new and more targeted and personalized treatments. Patients may also need other types of treatment such as palliative care, rehabilitative therapy, mental health services, and nutrition counselling and cardiology consultations because of the actual cancer itself or the treatments involved.

It is very common for people with cancer to see multiple medical providers including primary doctors, specialists for both the type of cancer and for secondary effects (like endocrinologists, cardiologists, and neurologists), medical oncologists, radiation oncologists, surgeons, palliative care specialists, rehabilitation specialists, physical therapists, and nutritionists. The complexity of cancer treatment and the need for multiple specialists can drive up the cost of cancer care.

Survivorship care costs

There are various non-treatment related costs after active cancer treatment that can surprise people. Examples include durable medical equipment, compression clothing, physical therapy, biopsies and ongoing regular monitoring, dealing with effects of chemotherapy, different clothes or eating habits, and counselling.

Cancer survivors may also take long-term treatments to prevent cancer from coming back. For instance, hormone therapy is done to help prevent the recurrence of breast cancer.

Reinventing critical care by putting patient interests first

Health care systems and serious illnesses are complex. Patients and their families are thrown into a complicated landscape of medical language and treatment terminology. It is important to have someone completely on your side to make things simple, help you understand the options and their implications, and make sure your voice is heard and your questions answered.

You can benefit from world-leading health care, engage the best doctors and medical teams, know that your interests are being prioritized, and that your finances are secure.

The ideal coverage to manage the risks associated with the high costs of cancer include:

·         Protection and services that eliminate cost barriers

·         Expertise from leading doctors internationally and locally

·         Benefits designed to empower you by ensuring you have the correct diagnosis and knowledge of the most appropriate course of treatment

·         Tangible personal support, independent advocacy, and dedicated care management.

Cancer and other critical illnesses are serious illnesses that can be diagnosed when we least expect them, and may persist for a long time. In such cases, AXA’s wide range of health solutions covering critical illnesses can help you be more prepared. Check these out by visiting AXA’s Health Hub: AXA Philippines | AXA Health Page

Preferred Global Health (PGH) is the global patient organization with more than 20 years’ experience successfully helping patients from around the world receive personalized medical care and consultation services from Harvard-affiliated specialists at the leading hospitals in the US, enabling patients to make informed decisions about their diagnosis and treatment plan.

Preferred Global Health is the valued partner and independent service provider to AXA Philippines for Preferred Consultation and Care services.

Find out more at: www.pghworld.com