Financial toxicity describes the negative impact
medical expenses
Health economics is a branch of economics concerned with issues related to efficiency, effectiveness, value and behavior in the production and consumption of health and healthcare. Health economics is important in determining how to improv ...
can have on patients in terms of their
health related quality of life
In general, quality of life (QoL or QOL) is the perceived quality of an individual's daily life, that is, an assessment of their well-being or lack thereof. This includes all emotional, social and physical aspects of the individual's life. In he ...
,
leading to negative mental and physical effects as well as, in some cases, bankruptcy, loss of job or income, or even homelessness.
Background
The term financial toxicity was used in a 2009 article about the
cancer drug
Chemotherapy (often abbreviated to chemo and sometimes CTX or CTx) is a type of cancer treatment that uses one or more anti-cancer drugs (chemotherapeutic agents or alkylating agents) as part of a standardized chemotherapy regimen. Chemotherap ...
industry "as a side effect of cancer drug treatment, along with nausea and hair loss".
The cost of medical treatment has become a major complication of treatment in the United States, leading to suffering comparable to physical suffering and damaging a person´s ability to recover from their illness, according to a 2013 study published in The Oncologist journal. Patients can forgo treatments or opt for less-costly treatments, which can have a negative impact on their health.
Prevalence
In a study from Oregon almost 20% of
older adult
Old age refers to ages nearing or surpassing the life expectancy of human beings, and is thus the end of the human life cycle. Terms and euphemisms for people at this age include old people, the elderly (worldwide usage), OAPs (British usage ...
s with advanced cancer experienced financial toxicity.
This was assessed using 3 simple questions: "At any time in the past 3 months have you taken less medication than was prescribed for you because of the cost?" (delayed medications); the second question was, "When you think about the amount of income that you have available in a typical month, is there enough for your food and housing costs?" (income available) and the third question was, "When you think about the amount of income that you have available in a typical month, is it enough for things you really need like clothing, medicine, repairs to the home or transportation” (enough income).
Risk factors
As of 2020, preexisting debt, prediagnosis conditions, type of employment like hourly versus salaried and asset levels are "areas in need of further study" according to the National Cancer Institute.
Certain types of cancer treatments that require daily attendance to a clinic or healthcare provider can place an increased risk of financial toxicity on patients.
Interventions
Since 2009, the American Society of Clinical Oncology recommends in a guidance that health care professionals talk to patients about costs.
Providing financial information, counseling of the patient with "financial navigators" have been suggested. However cancer treatment cost information is intransparent.
See also
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Medical debt
Medical debt refers to debt incurred by individuals due to health care costs and related expenses.
Medical debt is different from other forms of debt, because it is usually incurred accidentally or faultlessly. People do not plan to fall ill or ...
References
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Health economics