ACCI Conference 2024

To aid in the fight against cancer, extensive research and innovative clinical therapies are conducted. Oncological treatments are expensive; insurance may not cover all treatment fees, and compared to individuals without a cancer history, cancer survivors have higher out-of-pocket expenses (National Cancer Institute, 2019). Collectively, these hardships are described as financial toxicity.
Financial toxicity results from increased cost-sharing payments, reduced income from the loss of work, and behavioral and psychological responses caused by incurred healthcare expenses (de Souza and Conti 2017). Some insurance policies may cover direct costs, such as physician fees, medication, and hospitalization fees. However, a typical insurance coverage plan may not cover all aspects of a patient’s course of treatment, especially indirect costs not associated with treatment itself. These gaps in coverage leave patients responsible for out-of-pocket (OOP) expenses such as deductibles, and coinsurance payments. Whether one has any insurance (i.e., Medicare, Medicaid), or no insurance, will impact the OOP cost of prescriptions, procedures, and other care needs (Singleterry 2017). With rising costs of cancer treatment in the United States, even patients with health insurance are at risk of experiencing financial toxicity. This study investigates financial toxicity among U.S. cancer patients in the context of overall financial well-being.

Author(s): Biswadeep Dhar, Travis Mountain, Michael Gutter