One of the most prolific progressions in research and development over the past decade has been the discovery and development of new treatments and drugs for cancer, for good reason. According to National Cancer Institute (NCI) statistics, cancer has a major impact on our society, both in the United States and around the world. In 2016, an estimated 1,685,210 new cases of cancer were diagnosed in the United States and 595,690 people died from the disease. Nearly 39.6% of men and women will be diagnosed with cancer at some point during their lifetimes. It is rare to find anyone who has not dealt with the dreaded disease personally or had a family member or acquaintance suffer from one type or another of cancer.
To answer the call for action in defeating the disease, researchers, oncologist and drug companies have turned-up the pace of research and discovery. Over the past 5 years, 68 new cancer drugs have been approved for various cancers, many producing significant improvement in outcomes for patients. In just the last ten years, drug developers and regulators have successfully shortened the R&D path for approving new cancer drugs safely and efficiently. The global market for cancer immunotherapies, cancer drugs that enlist the body’s immune system to improve patient survival rates, are expected to grow more than fourfold globally by 2022. The number of new drugs in the cancer pipeline has swelled by 45% over the past decade alone.
With the increased activity and availability of promising new therapies for the masses suffering from cancer, one would expect that a downward trend in costs would be a positive result of the new competitive environment. But increased competition and quicker access to market is not producing the expected. In previous decades, new drugs might cost around $10,000 for a year’s treatment. However, according to one recent study, today’s newly approved cancer drugs can cost a patient a staggering $120,000 to $170,000 per year.
The result of this revolution appears to come at a high cost for patients. In the past decade patients paid just 5% of healthcare provider revenue. Today the shifting responsibility to patients for these costs has risen to 35%, and the trend is expected to continue as employers continue to transfer the high cost of healthcare insurance to their employees, the trend to higher insurance deductibles and rising operating and regulatory costs. The result is that too many Americans are struggling to afford the care. Many healthcare consumers are avoiding or delaying needed care or abandoning treatment because of concerns about their ability to pay.
In a system where the patient first learns of the price of their treatment after it has been rendered, many are shocked at the staggering high price and confused and amazed by a complicated and convoluted system of service codes and the seemingly unending list of often unseen providers. The euphoria and promise of this revolution of discovery is leading many to dread the unfathomable price of recovery and survival.
Gettysburg Cancer Center takes pride in seeking alternative financial resources that can assist its patients in managing the costs of their cancer treatment. To learn more, please contact: Erin or Kasey by calling 717.334.4033 or visiting the website at https://gettysburgcancercenter.com/patients/patient-assistance/.