register

News & Trends - Pharmaceuticals

Oncologists tackle financial toxicity in cancer care: Can patients afford their treatment?

Health Industry Hub | August 30, 2023 |

Pharma News: To address the mounting concerns surrounding the financial toxicity of cancer diagnosis, the Private Cancer Physicians of Australia (PCPA) held a webinar to equip cancer specialists and nurses with effective communication strategies for discussing innovative yet non-subsidised treatments with patients.

Rare Cancers Australia (RCA) CEO, Richard Vines, and PCPA President, A/Prof Christopher Steer, Medical Oncologist at Albury Wodonga Regional Cancer Centre, have voiced deep-seated concerns about the unforeseen and often overwhelming financial burdens that accompany a cancer diagnosis. The daunting prospect of financial toxicity, exacerbated by the demands of cancer treatment, has prompted both organisations to seek avenues to mitigate these challenges and provide patients with a more supportive environment.

“As cancer physicians providing high quality, personalised, patient-centred care, we work very hard to limit the out-of-pocket expenses that are within our control. As patient advocacy leaders, we see first-hand the often-extreme choices some patient feel they must make. Sell the house or have treatment? Retain childcare services or have treatment? Keep working or take the much-needed time off to recover?” PCPA and RCA said in their 2023-2024 pre-budget submission.

Dr Amy Davies, a member of PCPA’s Emerging Leader Advisory Board, shared her experiences during the webinar.

“If my patient struggles to afford the bus trip to hospital, it is really hard to then discuss a new treatment that I know will leave them out of pocket by tens of thousands of dollars,” she stated.

Recent statistics are indicative of the urgency surrounding this issue. In 2022 alone, Australia reported over 162,000 new cancer cases, translating to an average of more than 440 diagnoses daily. Yet, the sobering figures are paralleled by the growing burden of out-of-pocket costs that accompanies cancer treatment. The financial strain of living costs coupled with this burden often forces patients to make life-altering decisions concerning their treatment journey.

The financial burden of cancer care has even led to the postponement or discontinuation of treatments, as patients grapple with the uncertainty of affording their medical bills. Estimates suggest that some patients may end up shouldering up to $22,000 of their cancer treatment expenses out of their own pockets.

A recent study undertaken in Western Australia delved into the experiences of cancer patients facing out-of-pocket expenses during cancer diagnosis and treatment. The findings highlight the urgent need for healthcare practitioners to initiate discussions around treatment costs at an earlier stage. Failing to address the financial aftermath of cancer treatment leaves patients vulnerable to “adopting maladaptive coping mechanisms, such as medication rationing and stringent budgeting”.

The PCPA and RCA’s proposition of immediate access to the Medical Benefits Schedule (MBS) and Pharmaceutical Benefits Scheme (PBS) patient safety net programs upon cancer diagnosis seeks to bridge the financial gap for patients. By introducing a ‘Cancer Care’ patient safety net that is triggered the moment cancer diagnosis is made, the benefits will follow the patient and not the providers. This will reduce the discriminatory financial implications faced by patients diagnosed later in the year who face the current patient safety net reset in January.

The webinar was supported by the pharmaceutical industry, including Merck Healthcare, Gilead Sciences, AstraZeneca, Roche, MSD, and Servier Pharmaceuticals.

Reimagining healthcare across the entire patient journey: Health Industry HubTM is the only one-stop-hub bringing the diversity of Pharma, MedTech, Diagnostics & Biotech sectors together to inspire meaningful change in healthcare.

The content on Health Industry Hub is copyright protected and can only be accessed under individual user licenses. To subscribe, please click here and visit T&Cs here.


News & Trends - MedTech & Diagnostics

Medtronic, J&J MedTech and Edwards Lifesciences senior leaders reflect on 2023 and voice outlook for the year ahead

Medtronic, J&J MedTech and Edwards Lifesciences senior leaders reflect on 2023 and voice outlook for the year ahead

Health Industry Hub | December 7, 2023 |

MedTech & Diagnostics News: As we approach the end of 2023, senior leaders in the medtech sector, including Medtronic, Johnson […]

More


News & Trends - Pharmaceuticals

Sanofi, AstraZeneca and BeiGene senior leaders reflect on 2023 and voice outlook for the year ahead

Sanofi, AstraZeneca and BeiGene senior leaders reflect on 2023 and voice outlook for the year ahead

Health Industry Hub | December 7, 2023 |

Pharma News: As 2023 draws to a close, senior leaders in the pharmaceutical and biotechnology sectors paused to reflect on […]

More


Medical

AbbVie leader takes helm as President of medical affairs association

AbbVie leader takes helm as President of medical affairs association, emphasising optimism fuelled by collaboration

Health Industry Hub | December 7, 2023 |

Medical: The Medical Affairs Professionals of Australasia (MAPA) has revealed its newly appointed President and executive committee for 2024. Lauren […]

More


News & Trends - MedTech & Diagnostics

National Cabinet endorses hospital funding overhaul as surgery waiting lists skyrocket beyond 850,000

National Cabinet endorses hospital funding overhaul as surgery waiting lists skyrocket beyond 850,000

Health Industry Hub | December 7, 2023 |

MedTech & Diagnostics News: National Cabinet met in Canberra yesterday to make progress on key health reforms. National Cabinet endorsed […]

More


This content is copyright protected. Please subscribe to gain access.