Research from Beth Israel Deaconess Medical Center and Harvard Medical School reveals significant financial toxicity among cancer survivors, with patients facing higher rates of bankruptcy and lower credit scores years after diagnosis. The studies, which analyzed data from nearly 100,000 cancer patients, found that those diagnosed with aggressive cancers often experienced less financial strain than those with better prognoses. Factors such as age, race, marital status, and income level were linked to greater financial challenges, highlighting the need for policy reforms in cancer care.
Cancer patients face significant financial challenges, with nearly five times the bankruptcy rate and average credit scores nearly 80 points lower than non-cancer patients. Research from Beth Israel Deaconess Medical Center highlights that financial toxicity persists for years post-diagnosis, particularly affecting those under 62, minorities, and individuals with lower incomes. These findings underscore the need for policy reforms to address the financial burdens associated with cancer care.
A study led by Dr. Benjamin C. James reveals that cancer patients face significant financial challenges, including a nearly fivefold increase in bankruptcy rates and credit scores averaging 80 points lower than non-cancer patients. The research highlights persistent financial toxicity, particularly among those with bladder, liver, lung, and colorectal cancers, lasting up to 9.5 years post-diagnosis. Factors such as age, race, marital status, and income level contribute to the severity of financial distress, underscoring the need for policy reforms in healthcare and debt collection practices.
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