The Cost of Cancer Care: How Patients Can Manage Expenses

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Cancer patients deal with lots of challenges, from physical pains to emotional and financial distress. Unfortunately, the costs of medical care continue to rise, increasing the difficulty of patients to access their desired care quality for faster recovery.

These patients often require longer medical attention and advanced and more expensive procedures and medications. Although the cost of care can be overwhelming, this article shows how patients can navigate these expenses using certain strategies, provisions, and programs. 

Financial Expectations in Cancer Care

Finances and costs may not be the first thought when you or a loved one is diagnosed with cancer. However, you eventually have to consider it because care costs determine the length and quality of care provided. Cancer care can be grouped into three key phases, each requiring different care procedures and corresponding costs. 

Initial care is the first phase, covering the first 12 months after the diagnosis. Next is continuing care, which covers the period between initial care and recovery or end-of-life. Post-recovery or end-of-life is the final phase, which covers the period after recovery or the final 12 months to end-of-life. Regardless of how many treatment phases you receive, you’ll incur some of the following expenses in cancer care: 

• Surgery costs
• Doctor visits
• Hospital stays
• Drug tests
• Imaging tests
• Chemotherapy
• Radiation therapy
• Medication
• Travel costs

Early detection is the key to improved cancer treatment and lesser financial requirements. Prioritize regular healthcare to discern signs earlier for cost-effective care. 

6 Ways to Manage Expenses in Cancer Care

You can’t prepare enough for a cancer diagnosis. No amount of emergency medical funds can cover cancer care. Nevertheless, if you find yourself or a loved one dealing with cancer, you can explore any of these strategies to manage your expenses while receiving quality care: 

Leverage Health Insurance Coverage 

If you have personal or enjoy government health insurance like Medicaid or Medicare, you can leverage these to reduce your medical expenses. Some insurance plans provide extra cancer-related benefits like specialized drug coverage and clinical trial access to help manage expenses. 

Contact the insurance company to seek clarification about benefits you may be entitled to. They’ll outline the extent of your plan coverage and clear all uncertainty to allow you to plan your finances better. It also helps to review your plan details to file claims and request coverage maximums. 

Consult Healthcare Providers 

Speak with your healthcare providers to negotiate treatment costs and a flexible payment option. Explore opportunities for potential discounts for healthcare services and medications.

You can also ask about alternative treatment options. Your healthcare providers are best able to recommend cost-effective options that achieve the desired results. Compare different healthcare providers’ costs and treatment options to make more informed decisions. 

Explore Financial Assistance Programs

The U.S. Government and many non-profit organizations offer financial assistance programs to help cancer patients offset medical expenses. They may provide grants and other assistance to help manage your expenses during cancer care. 

For example, cancer charities and foundations may cover your treatment cost, travel, medication, and other expenses related to your care. Similarly, some pharmaceutical companies use Patient Assistance Programs (PAPs) to provide affordable prescription medication for patients. 

Check for available programs in your state and community and analyze the eligibility requirements. Apply for any program you qualify for to help manage your care expenses. 

Pursue Settlement Claims

If your cancer is caused by occupational hazards like Mesothelioma due to asbestos exposure, you can file a workplace injury claim for compensation. Compensations like Mesothelioma settlements provide lump sums that help you cover the cost of cancer treatments. 

These compensations also provide a level of financial stability during treatment. They can help you access specialized care and manage out-of-pocket expenses and deductibles without incurring debts. 

Consider Alternative Treatment Options

To manage your expenses, opt for alternative, more affordable treatment options that offer the desired outcome. For example, local treatment and cancer care centers may offer treatment at more affordable costs. 

You can also participate in clinical trials recommended by your healthcare provider. These trials offer innovative treatments at lower costs than conventional ones. In addition, consider using generic versions of prescriptions when available to save money on medication. 

Implement Budgeting and Cost Management

Create a detailed budget and track your income and expenses related to your medical care. Use your medical spending history and healthcare recommendations to prioritize necessary expenses. Explore possible means to reduce all non-essential expenses. 

When practical, discuss and establish a payment plan to spread large expenses and bills over time for periodic settlement. Implement all necessary cost-saving strategies like generic medication, reduced hospital visits, and utilizing discount programs. 

Endnote

Cancer patience deals with many challenges, from physical to emotional and financial distress. While the cost of medical expenses from cancer care can accumulate and overwhelm you, you can manage these by leveraging insurance, exploring financial assistance programs, and considering alternative treatment options.