Private MD News

Cancer survivors may have strained finances

Category: Prostate

Following a positive PSA test for prostate cancer, most men are focused entirely on beating the disease. However, a new study has found that even if they do survive the tumor, they may still have a long road ahead.

Researchers from Penn State University found that average yearly medical expenses for cancer survivors are tremendously higher than for those who have never had cancer.

After examining Medicare claims data containing the medical records of individuals who had been diagnosed with cancer, the researchers found that average yearly medical expenses for cancer survivors ran as high as $9,300. This figure was $4,000 to $5,000 more than individuals who never had cancer.

It makes sense that medical expenses would be higher for an individual that is currently being treated for cancer. But the researchers expected that these costs would drop off in those who beat the disease. However, their findings showed that healthcare expenses remain high, even after years of being free of cancer.

The researchers said that their findings call attention to the difficulties that many people have with paying their medical expenses. The study showed that a significant percentage of cancer survivors paid out of pocket for their healthcare, which can put a strain on families.