By: Nathan Carerros
Chemotherapy is a drug that can not only say a life and help treat cancer, but it is very costly. Chemotherapy has many different ingredients that are within the chemical compound. It's a very significant issue because it's one of the few treatment plans that are out there. No matter what, chemotherapy has many different costs too it. Not just health and emotionally, but price wise.
Within our economics class we have studied opportunity cost, this relates to chemotherapy in multiple ways. Within chemotherapy it comes with a lot of health issues including fatigue, drowsiness, and nausea. This is very significant because a patient needs to figure out if the longevity of their life out ways the short term illness. According to British Journal of Cancer 124 deaths in 30 days was related to diseases out of 161. You can argue that this is such a huge risk to take, yes it is. But all of those patients were receiving treatment for at least 6 months prior from this study occurring. This is significant because the patient needs to take into account whether it's worth it to them to take this risk. If no action is taken, the patient will fall victim to cancer. The opportunity cost here aren't as super significant but they're there. The cost is the right to life being how much longer they will live after treatment, and the other cost is being the right to quality of life this being what you are able to do.
Finally, the cost of chemotherapy is very high. Just for a surgery to get a tumor removed on average it's $39,891. Karen Selby who is a RN and has a significant presence at Metholima Center in Florida stated the cost. She also stats that over an 8 week period the cost is $30,000 for chemotherapy. This needs to be lowered significantly. The issue is so many people need chemotherapy because it's one of the only ways to treat cancer, but it's way to expensive for everyone to try and pay. A way we can solve an issue like this is trying to find solutions constantly and working on a national effort to adjust the treatment plan to find a cheaper alternative. The National Comprehensive Cancer Network (NCCN.org) is a significant contributor to this conversation in setting the standards of what is needed in a successful treatments. Lastly, think about this, what is more important quality of life or lifespan? Why as a global effort can't we come together to come up with better chemotherapy treatments? If a better and cheaper way is created, more money would be added into the market but more people would pay for this product along with saving lives.
“Costs of Chemotherapy & Other Mesothelioma Treatments.” Mesothelioma Center - Vital Services for Cancer Patients & Families, www.asbestos.com/treatment/expenses/.
O'Brien, M E R, et al. “Mortality within 30 Days of Chemotherapy: a Clinical Governance Benchmarking Issue for Oncology Patients.” British Journal of Cancer, U.S. National Library of Medicine, 18 Dec. 2006, www.ncbi.nlm.nih.gov/pmc/articles/PMC2360753/#idm139623249682704title.
I think that people shouldn’t have to pay for chemotherapy because it is a necessity for those who do have cancer and if people who can’t afford don’t get the treatment that they need they could die. The demand for chemotherapy is increasing more and more as more people get cancer, so people may increase the price because they know that people are in high need for chemotherapy. However, imagine if someone is poor and doesn’t have a job and they get cancer and need chemotherapy and they are already paying for hospital bills how are they suppose to pay for their chemotherapy as well. Not only that, but chemotherapy is an example of an inelastic item because it's a necessity to those who have cancer in order to treat it and help to make the cancer they have go away. With this I think that anything that’s an inelastic should be free because it's things that people can’t live without and if they can’t offered how are they suppose to get the things they need.
ReplyDeleteI believe that chemotherapy is very important to those who need it right now, because it helps survival rates so much. Because of this, the opportunity cost of quality of life is worth it for that 1 or 2 year period because in return you get to live the rest of your life cancer-free with nothing to worry about. However, I would agree there should be better things than chemotherapy available, and that’s why researchers are working so hard on trying to find a cure or treatment that improves the quality of life when on it, but more importantly is far more cost effective and can help those who may not have the funds necessary to treat it.
ReplyDeleteI would completely agree with the fact that the government should be able to help pay for these kinds of treatments. Families are already going through a lot when it comes to the emotional and physical strain that a type of cancer has. As a person who knows what it is like to have a close family member suffer with cancer the last thing anyone wants to worry about is financial issues because the cost of chemotherapy is too high. Chemotherapy is one of those inelastic products because there is VERY few other treatments and people who have cancer can’t just not choose to not be treated by chemotherapy because of its cost. I think that the government should provide some types of aid to either the families that need the chemotherapy or to the companies that produce it so that they are able to lower costs because even with health insurance people the cost of chemotherapy is still too high.
ReplyDeleteLike you have stated, cancer is becoming even more of a relevant and malignant epidemic occurring in society than ever before. As a result of the demand of treatments to combat the various forms of cancer. There’s only a couple of solutions for patient to under take. For example the treatment you brought up chemotherapy. I agree that there are trade offs that individuals must take. Whether it being side effects of chemotherapy with nausea, and hair loss. But also the trade off of paying a hefty price of $39,000 dollars to removes a singular tumor. Where I agree with you on that there should be a cheaper alternative to dealing with tumors or lowering of costs. Not only does cancer, keep recurring as a malignant disease, it is very common in our society as of right now. As a society we are losing thousands of lives every week to cancer, where they could have been continuing to help improve the community or pursuing dreams that they have had for years. Even though more individuals would be paying for said treatment, they would be better in health in the long run. Also by having a cheaper alternative we would be able to develop further as a community. More healthier individuals means, more workers, resulting in economic progression and success.
ReplyDeleteI honestly agree with you that chemotherapy should be lowered in price significantly, because if it costs us upwards of $30,000 for an eight week period of chemo, what are we really getting out of it. Your opportunity cost is not only the cost of the chemo, but it is also the time you spend having it done to you, and any effects that it has on you afterwards. At the same time though, you have to assume that it will end up working, because if it doesn't you will end up with the current $30,000 bill, pain or even death, and if you end up surviving, you still have a chance for it to come back, which will end up forcing you to find more money to pay for more chemo to get that fixed.
ReplyDeleteMy family is one of many who have been impacted by the extensive costs of chemotherapy. My father was one of the victims of this terrible disease and went through cycles of chemotherapy, radiation, and surgery over the course of 2 years. You stated that an 8-week set of chemotherapy costs about $30,000, 8 weeks is just under 2 months, imagine years. The expenses pile up on the patient and the family. Chemotherapy is a draining treatment, a lot of patients can’t work in the time when they are in the process of the treatment because it’s so time consuming and draining. Victims families often fall into financial issues because of the extent of this cost. For example, my father was very successful with what he decided to do for a living, once he began and ended treatment we had payed a significant amount of money towards his treatment. Over the past 5 years my step mom has worked so hard to get us back where we were which also meant moving into a less expensive home. It would be a huge benefit for prices of chemotherapy to reduce.
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ReplyDeleteYour post really hits close to home. A few weeks ago my Uncle Jason was diagnosed with stage 4 cancer. He has a rare form of throat cancer caused by acid reflex. We later found out that his cancer spread from his throat, to his lymph nodes, to his lungs, and to his stomach. Considering how far along his cancer has developed, the oncologist said no surgery could be done at this point and if he doesn't do chemo, his life expectancy is at most six months. Since the cost of treatment is very expensive, my uncle couldn't see light at the end of the tunnel. The high prices of cancer treatment really put my uncle in a bleak and depressed state. Knowing how common cancer is among the general population, you would think the price of treatment wouldn't be so high. Considering this costly process isn't a for sure cure, many people diagnosed with cancer feel like they have a death sentence that puts you and your family in debt. Coming up with money for treatment isn't easy, therefore many individuals lose hope. If treatment wasn't financially unattainable for many, more lives could be saved and people diagnosed with cancer wouldn't lose hope completely.
I agree that Chemotherapy is very expensive however it is a very important medicine that most cancer patients have to take in order to shrink the cancer. If there is anyway to decrease the amount that chemotherapy costs this would benefit consumers a lot. However it costs a lot to produce this highly effective medicine so it really depends on whether or not the doctors or chemists can reduce a way of makeing the cost of medicine cheaper so they can offer it at a lower amount for patients.
ReplyDeleteThis post hits home for me as I'm sure it does for others as well. Today, there are numerous individuals who are living with cancer in the hopes of a transplant, advancement in technology, or hoping that the chemo they are taking works. There are others that have lost their battles or have just begun. With that said, the dollar amount for chemo is shocking. That $30,000 might be the cost to save your life and because of that, they are able to charge that amount. People have a high willingness to pay when it comes to medical expenses. Although I agree that chemo is a valuable option, there have been many advancements in cancer research that has opened up different treatments including radiation, organ transplants, etc. Hopefully in the near future, there will be a cure.
ReplyDeleteMy grandma received this treatment and my cousin Kendra still does receive it. This treatment so to me its very important that this is available to those who need it. Its sad that since this could save someones life that they could just make it however expensive they want to because people are going to buy it to fight their battle. Many people don't even look at costs when they need something like this they just get it and worry about payments and pricing later. Chemotherapy is very important and necessary to have in today's world but eventually after the government stops buying out the cures from pharmaceutical companies there will be a cure.
ReplyDeleteI agree that the costs of chemotherapy--or any kind of illness treatment--should be lowered. That or research should be done to find an alternative. Without competition for another option, chemotherapy prices will probably never go down. Conspiracy theory alert!! There is a better option for cancer treatment (maybe even a cure) that is much cheaper but the government is withholding it so that they can still get money from the uber expensive chemo?? Just a thought. Anyway, yes I do agree that the costs of chemotherapy sucks. My friend is currently going through it and the side affects are definitely not fun so if we were to have a different, cheaper, and healthier option, that would be great (:
ReplyDeleteI Agree with this piece whole heartedly because the cost of chemotherapy is becoming outrageous. For some, it's the only form of treatment and it's really saddening that some people experience such financial troubles to treat their disease, and to survive. I think that there is something that needs to be done because cost is an important factor in this issue, and our healthcare system does need to be improved, but the question is how can that be done, considering that finances are such a big problem as well. It's unfair and quite heartbreaking that people with cancer often find themselves struggling to pay their bills while also struggling for their lives.
ReplyDeleteYou brought up a really interesting point. Its difficult connecting health to money. While statistics do provide good evidence to justify, I think you could add more of your opinion into this topic. Try thinking about if you were in their shoes how would you act. This may help develop your idea on what the opportunity costs look like since your point wasn’t as direct and opinionated as it could be. It was a good idea to bring up the cost of extracting a tumor or chemotherapy, but this is tricky considering all the factors involved. Each tumor is different meaning a wide range of cost. Or maybe it isn’t? Next time add this research. With a new tumor is a new person with a different insurance plan, money they could/couldn’t put towards their health care. It would be an interest take to maybe include research on specific people and their points of views.
ReplyDeleteFrom Emma George ^^^
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