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Navigating the Burden of Financial Toxicity: The Hidden Battle Faced by Cancer Patients

August 31, 2023

By Laura Tanner, MSW, LCSW, OSW-C, OPN-CG

Receiving a cancer diagnosis is a life-altering event that brings about numerous challenges for patients and their families. Beyond the physical and emotional toll, cancer often inflicts a silent burden that goes unnoticed: financial toxicity. The term "financial toxicity" refers to the adverse financial impact of cancer treatment, including the high costs of medical care, medication and supportive services. In this article, we shed light on the significant challenges faced by cancer patients regarding their finances and explore potential solutions to alleviate this burden.

The Rising Cost of Cancer Care: In recent years, the cost of cancer treatment has skyrocketed, placing an immense financial strain on individuals and their families. Patients are confronted with exorbitant medical bills, expensive treatments, and the need for additional services such as transportation, home care and counseling. Even with health insurance coverage, copayments, deductibles and out-of-pocket expenses can quickly accumulate, pushing many patients into financial distress. Imagine the barriers to care faced by those with who are underinsured/uninsured.

The Impact on Quality of Life: Financial toxicity not only affects a patient's ability to afford treatment but also diminishes their overall quality of life. Mounting medical bills and financial strain often lead to anxiety, depression and increased stress levels. Patients may be forced to make difficult decisions, such as cutting back on essentials, depleting savings, taking on additional jobs, or choosing to forgo treatment entirely, further exacerbating their physical and emotional well-being.

Employment and Income Challenges: Cancer treatments frequently necessitate time away from work for medical appointments, surgeries and recovery periods. The loss of income during this time can be significant, especially for those without adequate sick leave or disability benefits. Furthermore, the effects of cancer and its treatments may limit a patient's ability to return to work or perform at their previous capacity, creating long-term financial instability. Those receiving Social Security and are placed on a fixed income are struggling to balance treatment options, medical bills, and basic needs.

Access to Medications and Treatment: Some cancer treatments involve innovative therapies and medications that come with high price tags. Insurance coverage may vary, and some patients may face difficulty accessing these vital treatments due to cost restrictions. The financial burden associated with medications can force patients to make heartbreaking choices between their health and their financial well-being.

Supportive Services and Resources: Fortunately, there are several resources available to help patients navigate the complex landscape of financial toxicity. Oncology social workers play a crucial role in connecting patients with financial assistance programs, charitable foundations, and organizations that offer financial counseling. These professionals assist patients in exploring available options and provide guidance on managing medical bills, negotiating with insurance providers, and accessing financial aid.

Tips for Managing Financial Toxicity:

Open Communication: Openly communicate with your patients from the beginning. Discuss concerns and provide education on assistance options. Apply for assistant options immediately (e.g., manufacturer programs, grants, utility assistance, transportation).

Financial Counseling: If you are in a clinic that is fortunate enough to have a financial counselor, lean on them to help assist navigating insurance. This will allow you to paint a very clear picture for the patient.

Education and Advocacy: Stay informed about insurance policies, coverage and patient rights.

Budgeting and Prioritization: Developing a comprehensive budget that accounts for medical expenses can help patients and families manage their finances more effectively. Finding assistance for things like utilities, groceries, transportation, rent and housing, can help alleviate patient’s budget month to month.

Community Support: Connect with cancer support groups and nonprofit organizations that offer financial assistance, transportation services, and emotional support. These networks can help alleviate financial and emotional burdens.

Financial toxicity is an unfortunate reality that cancer patients face alongside their medical journey. The economic impact of cancer treatment can have profound consequences on a patient's quality of life and overall well-being. However, by raising awareness, improving access to resources, and implementing comprehensive support systems, we can mitigate the burden of financial toxicity and provide cancer patients with the necessary tools to navigate this challenging landscape. Together, we can work towards a future where financial constraints do not hinder a patient's ability to receive the care they deserve.

Resources:

2023 Patient Guide to Cancer Support Services – Conquer: the journey informed (conquer-magazine.com)

Cancer and Careers | The Top Resource for Working People With Cancer

Cancer | Support Groups, Counseling, Education & Financial Assistance (cancercare.org)

Homepage | Cancer Support Community

Information and Resources about for Cancer: Breast, Colon, Lung, Prostate, Skin | American Cancer Society

Navigating Finances | Triage Cancer

About the Author

Laura Tanner, MSW, LCSW, OSW-C, OPN-CG

Oncology Social Worker, Wise Health System; Therapist, Unraveled Therapy
Decatur, Texas
ltanner@unraveledtherapy.com

Laura Tanner is the Oncology Social Worker for the Cancer Center at Wise Health System. She has over a decade of clinical oncology experience working in outpatient settings. Recently she has opened Unraveled Therapy where she provides therapy to t...
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