KEY TAKEWAY: Per ASCO “specialty medications accounted for 37% of drug spending in 2015, and projections are that they will account for 50% of all drug spending by 2018. [inlinetweet prefix=”” tweeter=”” suffix=””]Oncology drug pricing is expected to increase at a rate of 20% per year for the next several years.[/inlinetweet] Health care expenditures, including drug costs, have become a major cause of personal bankruptcy, and financial toxicity has become a common term used to describe the financial distress that accompanies the treatment of patients with cancer”. 

KEY TAKEAWAY: The U.S. is not prepared for the coming crisis in healthcare that could have a damaging effect of caregivers as well as patients.  The crisis consists of two parts: first, there is the rising cost of new prescription drugs, especially those to treat cancer.  Second, is the costs of extended care at a time when Congress is trying to gut Medicaid.

Wilko-Johnson-refuses-cancer-treatment-after-last-diagnosisPOST SUMMARY: According to the Dallas Morning News, five years ago, cancer treatment accounted for just $157 billion of the nation’s annual $2.6 trillion health bill. Propelled by new drugs and an aging population, however, cancer spending is rising quickly. A forecast from the National Cancer Institute said spending could hit $207 billion by the end of the decade.