42% of new cancer patients lose their life savings
A new study delivers the dark financial reality of cancer.
- 62 percent of cancer patients report being in debt due to their treatment.
- 55 percent accrue at least $10,000 in debt, while 3 percent file for bankruptcy.
- Cancer costs exceed $80 billion in America each year.
Rebecca Meyer was diagnosed with glioblastoma when she was 5 years old. She fought bravely for 10 months before dying on her 6th birthday. The total cost of of her treatments during that time? $1,691,627.45.
Cancer is costly, emotionally and socially. But it's especially pricey in terms of money. The stress of being unable to pay for treatment doesn't help your immune system while going through chemotherapy or radiation. It's impossible to relieve yourself of tension when your medical costs are bankrupting you and your family.
This is more common than you might imagine. A new study, published this month in The American Journal of Medicine, discovered that 42 percent of patients deplete their life savings during the first two years of treatment. There's good reason the term "financial toxicity" is in the name of this report.
Of the 9.5 million cancer diagnoses studied between 2000–2012, researchers discovered that 42.4 percent of patients (median age 68.6±9.4 years) spent all of their money, averaging $92,098. This follows disturbing news from earlier this year that 40 percent of Americans can't afford to pay $400 in case of an emergency. The math is not adding up.
Financial toxicity led Fumiko Chino to co-write a research letter in JAMA Oncology last November. After her husband surpassed his insurance policy's $500,000 lifetime limit, Chino drained her savings to pay for his treatment. When he died, she was left hundreds of thousands of dollars in debt.
In her study of 300 cancer patients, Chino and team discovered that over one-third of them had to pay more than expected for their care, which put a strain on their decision-making process.
Facing unexpected treatment costs was associated with lower willingness to pay for care, even when adjusting for financial burden. This suggests that unpreparedness for treatment-related expenses may impact future cost-conscious decision making.
A 2016 systematic review of 45 studies, published in Journal of the National Cancer Institute, found that up to 62 percent of patients report being in debt due to treatment. Another study of over 4,700 patients from that year discovered that 55 percent accrued at least $10,000 in debt, while 3 percent filed for bankruptcy.
Cancer costs exceed $80 billion in America each year. Over half of all cancer patients "experienced house repossession, bankruptcy, loss of independence, and relationship breakdowns." Up to 85 percent of patients have to stop working for up to six months, putting further strain on their finances.
On October 16, cancer patients in New Zealand petitioned Parliament for treatment funding. Photo by Hagen Hopkins/Getty Images
The financial toxicity study above comes to possibly the only conclusion imaginable:
As large financial burdens have been found to adversely affect access to care and outcomes, the active development of approaches to mitigate these effects among already vulnerable groups remains of key importance.
Health care remains one of the most important issues in this election cycle — it always seems to be an issue, sadly. Seventy-two percent of all political ads that ran in Washington during September mentioned health care in some capacity, while 50 percent of national ads run by Democrats have used this talking point (compared to 28 percent of national Republican campaigns). We need to figure this out.
As a cancer survivor, I deeply empathize with this problem. There is no easy answer, as cancer treatment is expensive. Funding is needed to keep researchers searching for cures and better treatments. Hospitals need to stay in business, and cancer happens to be one of the more expensive widespread diseases to treat.
But we've also set up our society in such a way that these high costs are passed on to those who can afford it least. This study is just one example of a culture that continues to divide its wealth to such extremes. That might not be the country we wanted, but it's what we've got. Where we go from here is up to us, and a sizable piece of this puzzle will be put into place on November 6.
Dominique Crenn, the only female chef in America with three Michelin stars, joins Big Think Live this Thursday at 1pm ET.
Hungarian cartographer travels the world while mapping its treasures.
- Simple idea, stunning result: the world's watersheds in glorious colors.
- The maps are the work of Hungarian cartographer Robert Szucs.
- His job: to travel and map the world, one good cause at a time.
The world<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8xOTE0MjUyNS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYzMzU3Njk1M30.rRdZpcl0bfVi4oBsljHdZSbcX0New9rdLcx6fr2mD7Y/img.png?width=980" id="f982a" class="rm-shortcode" data-rm-shortcode-id="fa67421340f881d5ab91463514cf9a6d" data-rm-shortcode-name="rebelmouse-image" />
Can you spot the world's ten largest drainage basins? In order of magnitude: Amazon, Congo, Nile, Mississippi, Ob, Parana, Yenisei, Lena, Niger, Amur. Image source: Grasshopper Geography
Africa<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8xOTE0MjUyNi9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYzOTI2MzI0MX0.OeTS-scZwBES4AlZAan7fBlaBkznkig5hPjgcd1j6hw/img.png?width=980" id="e987c" class="rm-shortcode" data-rm-shortcode-id="2d3a8999ed4071a123b30efc5652fee9" data-rm-shortcode-name="rebelmouse-image" />
Africa is home to the rivers with the world's second- and third-largest catchment areas: the Congo (in blue), with a basin of 1.44 million square miles (3.73 million km2), and the Nile (in red), with basin area of 1.26 million square miles (3.25 million km2). The Nile is the longest river in Africa, though (4,130 miles; 6,650 km), followed by the Congo: 2,900 miles (4,700 km). The Congo River's alternative name, Zaire, comes from the Kikongo nzadi o nzere ('river swallowing rivers'). Image source: Grasshopper Geography
Europe<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8xOTE0MjUyOS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY0NTkzOTMyMH0.tq5fjnq8wvLqXY0C9gzfoUd0ahOAQ7IZQxbpVnC1FdY/img.png?width=980" id="a8ec4" class="rm-shortcode" data-rm-shortcode-id="1ce5f59691501103343e080905ce74a3" data-rm-shortcode-name="rebelmouse-image" />
The Volga (in yellow) is the river with the biggest catchment area in Europe (just under 545,000 square miles; 1.41 million km2). It flows exclusively through Russia, and the catchment area is entirely within Russia as well. Europe's number two is the Danube (in orange), which flows through 10 countries — more than any other river in the world. Its drainage basin (just over 307,000 square miles; almost 796,000 km2) includes nine more countries. Image: Grasshopper Geography
Germany<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8xOTE0MjUzMC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY0Mzk4ODA3Nn0.qX1sOfJWAI7TUbTQCiIob-R5p4_wj299wEtrYAUREmg/img.png?width=980" id="d5efa" class="rm-shortcode" data-rm-shortcode-id="8e73c53d75840f21b4f2ca4b8a1e7f51" data-rm-shortcode-name="rebelmouse-image" />
The hydrographic map of Germany is dominated by just four major drainage systems: the Danube (in orange) in the south, the Rhine (in blue) in the west, the Elbe (in purple) in the east and the Weser (in green) between the latter two. In Antiquity, the Rhine was the border between the Roman Empire and the Germans. Rome once attempted to shift the border to the Elbe, which would have radically altered the course of history, but it suffered a massive defeat in 9 CE at the Teutoburger Wald (roughly between both rivers). Image: Grasshopper Geography
Great Britain and Ireland<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8xOTE0MjUzMS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1OTk2MjM3MX0.nDy__OLIyC1arty4_2xd54fjTzmfsIZo-2pe5QRjjA4/img.png?width=980" id="31a6f" class="rm-shortcode" data-rm-shortcode-id="d089f66097f37a10ab854eaccdac3581" data-rm-shortcode-name="rebelmouse-image" />
Both Ireland and Great Britain are islands, as a result of which neither boasts a continental-class river. Twenty of the 30 longest British rivers are less than 100 miles (160 km) long. The longest river in Britain is the Severn (220 miles, 354 km), its catchment area shown in blue in the southwest. Ireland's longest river is the Shannon (224 miles, 360 km). Even combined they're not as long as France's Seine (483 miles, 777 km). Image: Grasshopper Geography
United States<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8xOTE0MjUzNC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY2MDYyMzEyM30.7S_83dA6bcLyID_7BhH1R_OTy61tpgDZrBMQ_iPwnjM/img.png?width=980" id="a879d" class="rm-shortcode" data-rm-shortcode-id="a7c74a7b5a7887fb2d13b40d5d96223c" data-rm-shortcode-name="rebelmouse-image" />
Spread-eagled across the central part of the United States, the Mississippi's drainage basin covers all or parts of 32 U.S. states (and two Canadian provinces). The easternmost point of Ol' Man River's catchment area is really far east: Cobb Hill in northern Pennsylvania. Here rises the Allegheny, tributary of the Ohio, which in turn flows into the Mississippi at Cairo, Illinois. Image: Grasshopper Geography
Washington State<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8xOTE0MjUzNS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY0MzU2MzM4OH0.mniqbkEQq84rNaWOQIl4fB4mOhNdJf5WactNyE_VsyM/img.png?width=980" id="adc4d" class="rm-shortcode" data-rm-shortcode-id="97eb5a5add49c06ef00ff0bca812b380" data-rm-shortcode-name="rebelmouse-image" />
Even leaving out the Mississippi, there's enough going on in the rest of North America to keep the eye occupied. Here's a drainage map of Washington State. The big fish in this much smaller pond is the Columbia River (drainage area in blue), the largest river in the Pacific Northwest. Only in the western third of the state is there a colourful counterpoint, in the multitude of smaller river basins that are draining into the Pacific or into Puget Sound. Image: Grasshopper Geography
Australia<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8xOTE0MjUzNi9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYzOTM0ODM2NH0.U7vckwnoNoxf-bk8SuYO246hNMpR2zXILILsd4pas9o/img.png?width=980" id="38c2b" class="rm-shortcode" data-rm-shortcode-id="0c44d30d61c6cb94b8d5c7205cbabd58" data-rm-shortcode-name="rebelmouse-image" />
At 1,558 miles (2,508 km), the Murray is Australia's longest river. It is often considered in conjunction with the Darling (915 miles, 1,472 km), the country's third-longest river, which flows into the Murray. The Murray-Darling basin (in blue, in the southeast) covers just under 410,000 square miles (1.06 million km2), or 14 percent of Australia's total territory. Don't let that spidery network of river courses in the interior fool you: Australia is the world's driest inhabited continent (Antarctica, bizarrely, is drier). Image: Grasshopper Geography
Russia<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8xOTE0MjUzNy9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYwNzg5MzIxOX0.WhShHLjjWdEh4FF_OZsY1oTN3Vc77X29TbMYbVHrHqA/img.png?width=980" id="f5cee" class="rm-shortcode" data-rm-shortcode-id="53acd93f1ab67be979e6ab128c144ce6" data-rm-shortcode-name="rebelmouse-image" />
Four of the world's largest drainage basins are in Russia: the Ob, Yenisei and Lena (origin of Vladimir I. Ulyanov's nom de guerre, Lenin) entirely and the Amur, shared with China. The Volga may be Europe's longest river, but 84 percent or Russia's surface water is east of the Urals, in Siberia. The sparsely-populated region is traversed by 40 rivers longer than 1,000 km. Combined, the Ob, Yenisey and Lena rivers cover a drainage area of about 8 million km2, discharging nearly 50,000 m3 of water per second in the Arctic. Image: Grasshopper Geography
Scientists have found evidence of hot springs near sites where ancient hominids settled, long before the control of fire.
Finances can be a stressor, regardless of tax bracket. Here are tips for making better money decisions.
- Whether you have a lot of money or a lot of debt, it matters how you handle your personal finances. A crucial step when it comes to saving is to reassess your relationship with money and to learn to adopt a broader, more logical point of view.
- In this video, social innovator and activist Vicki Robin, psychologist Daniel Kahneman, Harvard Business School professor Michael Norton, and author Bruce Feiler offer advice on achieving financial independence, learning to control your emotions, spending smarter, and teaching children about money.
- It all starts with education and understanding. The more you know about how money works, the better you will be at avoiding mistakes and the easier it will be to take control of your financial circumstances.