Cancer medical costs to balloon to $245B by 2030, study finds
That would mark a 34% increase from 2015.
Costs associated with cancer treatment are expected to exceed $245 billion by 2030, or nearly a 34% increase from 2015 billing, according to a new study.
The study published in the medical journal Cancer Epidemiology, Biomarkers & Prevention found the total costs varied by the type or location of the cancer, and the stage in which it was caught. Earlier treatment means lower costs, while end-of-life treatment often has the biggest cost.
“Rising health care expenditures are a burden for patients, and costs of cancer care has become a critical topic in patient-provider discussions to facilitate informed decision-making,” said study author Angela Mariotto, chief of the Data Analytics Branch at the National Cancer Institute. “Studies quantifying and projecting costs can further facilitate those discussions. In addition, this type of research can help health policymakers better understand the issue of rising costs and can help health care providers better plan resource allocation.”
Related: The financial burden of cancer treatments prices some out completely
Using 2019 dollars, the study said annualized end-of-life came to about $105,500 per patient. The report also found annualized treatment for prostate cancer came in around $71,300 per patient, while treatment for acute myeloid leukemia hit $239,400 per patient.
The researches estimated that the 2015 cost for medical care related to cancer was $165 billion, while prescription drugs added another $18 billion. Those costs are expected to increase to $221 billion for medical care and $25 billion for prescription drugs by 2030.
The report notes that the number of people diagnosed with cancer increases with age, and that an aging population and increased number of cancer survivors will contribute to the increased cost.
“Patient-provider discussions about treatment options should include not only expected survival, quality of life implications, and potential adverse events, but also expected costs of care for different treatments,” said study author Robin Yabroff, senior scientific director of health services research at the American Cancer Society. “For patients with cancer who are working, these discussions should address how treatment affects the ability to work, especially if the patient’s health insurance coverage is through their employer.”
Read more: