Report Shows Canadians with Cancer and Their Caregivers Can Expect Nearly $33,000 in Lifetime Medical Expenses
According to a new report, Canadians diagnosed with cancer and their caregivers face an average of $32,778 in cancer-related expenses over the patient’s lifetime. These costs include out-of-pocket expenses, time costs, and lost income due to unemployment.
The rising incidence of cancer in Canada not only increases costs for the healthcare system but also adds significant financial burdens on patients and their caregivers. A recent report from the Canadian Cancer Society projects the societal cost of cancer to reach $37.7 billion this year, with patients and caregivers bearing 20 percent of this amount—approximately $7.5 billion.
These societal costs include expenses to the health care system, as well as costs to patients and caregivers. The report anticipates a 23 percent increase in these expenses over the next decade, due in part to population growth, aging, and improved cancer survival rates.
The report highlights the story of Vanessa Percoco, a colorectal cancer patient who spent over $4,000 on prescription drugs and faced financial stress and challenges covering rent and other expenses.
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The average lifetime cost for cancer patients in Canada, nearly $33,000, comprises $16,018 in out-of-pocket expenses, $11,199 in time costs, and $5,560 in indirect costs. Out-of-pocket costs accounted for $3.7 billion of the total cancer societal cost this year, while time costs and indirect costs made up $2.5 billion and $1.3 billion, respectively. The healthcare system faced $30.2 billion in cancer management costs.
Researchers predict a $1.3 billion increase in economic impact for cancer patients and caregivers over the next decade, with out-of-pocket costs expected to rise nearly 20 percent. Direct costs to the health system are also projected to increase by 24 percent by 2034.
According to the report, the growth in the number of people affected by cancer is the primary reason for these economic impact increases. The initial cancer care phase, which covers the first 12 months post-diagnosis, is the most costly for patients and caregivers, while the continuing care phase is the most expensive for the healthcare system.
