Cancer treatment can be very expensive and in addition to the physical side effects, the financial side effects can sometimes be more devastating. Nurses Announcements Archive
Published
"Urgent action must be taken to address the dramatic rise of cancer drug prices and to better align prices with value, according to a report released today by the President's Cancer Panel. The Panel's report, Promoting Value, Affordability, and Innovation in Cancer Drug Treatment, finds that while some cancer drugs have indeed been transformative, and may warrant prices that reflect their value, many new drugs do not provide benefits commensurate with their prices. The Panel concludes that stakeholders across the cancer enterprise-including drug developers and manufacturers, policy makers, government and private payers, healthcare institutions and systems, providers, and patients themselves-must work together to maximize the value and affordability of cancer drug treatment and to support investments in science and research that drive future innovations."
So...how do we do we make cancer medications more affordable?
The American Cancer Society states; "Cancer is one of the leading causes of death and disease in the U.S. The American Cancer Society (ACS) estimates that roughly 1.7 million new cases of cancer will be diagnosed in the U.S. in 20171 and more than 15 million Americans living today have a cancer history."
Almost all of us know of someone that has had or does have cancer. Many forms of cancer that were incurable now show long survival rates. However, what if you or a loved one is diagnosed with a cancer that is treatable but only by a very costly means? What do you do? Why are these meds so expensive?
An article from the Journal of Oncology Practice details the reasons for the high cost of cancer medications:
"First, pharmaceutical companies use a variety of strategies to delay or discourage competition by generic companies, for example "pay-for-delay" and "approved generics.
Second, as part of the Medicare Reform Act of 2003, and influenced by the pharmaceutical lobby, legislation forbade Medicare to negotiate drug prices. This, together with the Medicare expansion in 2006 to include prescription drug benefits, resulted in a financial bonanza to companies, clearly charted by the skyrocketing profits since 2006.
Third, the Patient-Centered Outcomes Research Institute (PCORI), which evaluates treatments for coverage by federal programs, is prevented from considering cost comparisons and cost effectiveness in its recommendations. Such mechanisms, which emphasize value and price, rebalance the legitimacy of the purchaser and patient perspectives by diminishing their position as passive price takers.
Fourth, US laws forbid the importation of prescription medicines from abroad, even for personal purchases. The purported reason (supported by the pharmaceutical lobby) is patient safety.18 However, in the latest estimates of the Canadian government's Patented Medicine Prices Review Board, as of 2011, US consumers pay 100% more for patented drugs than elsewhere."
The President's Cancer Panel concludes; "that when it comes to defining the value of cancer drugs, patients' benefit must be the central focus. When patients' finances are strained, they are less likely to follow treatment regimens, potentially worsening health outcomes the drugs are intended to improve. The term "financial toxicity" describes the negative impact of cancer care costs on patients' well-being. Like medical toxicities caused by cancer treatment, financial toxicity can impose a significant burden on cancer patients. Rapidly rising spending on cancer drugs is unprecedented and cannot be ignored, and that public-private collaboration is critical to ensure that patients receive high-quality cancer treatment and experience the best possible health outcomes without financial toxicity."
Some of the suggestions from the Panel include:
So, where do our patients stand? Its seemingly up to us, as nurses to provide some of this education. Its not enough that providers and physicians prescribe, but we must all be mindful of the cost.