Medical Expenses for Prostate Cancer Treatment: Detailing the Fees
Prostate cancer is the second leading cause of cancer death among males in the United States, and the annual cost of treatment for this disease is significant and on the rise. The costs associated with prostate cancer treatment can vary widely, depending on a number of factors including the specifics of the treatment regimen, type of insurance coverage, use of newer expensive therapies, and additional supportive care needs.
According to research, the estimated annual cost for a person in the first year after their prostate cancer diagnosis, including gross payments, copayments, and deductibles, is $34,739. The average 2020 estimated per-person annual cost for prostate cancer medical services were: early stage care ($28,108), continued care ($2,603), and care in the last year of a person's life ($74,227).
The costs for diagnosis and treatment of localized prostate cancer were found to be $14,453, with the costs for diagnosis and workup, treatment, morbidity costs, and follow-up being $1,664, $10,558, $81, and $242 respectively. For advanced treatments like targeted therapies, costs can be extremely high, with annual drug prices in the United States ranging from $173,000 to $240,000.
Out-of-pocket costs can range from several thousand dollars to tens of thousands annually. These costs can include deductibles and copays for cancer treatments (surgery, radiation, chemotherapy), coinsurance payments (often 20% of outpatient treatment costs), gaps in coverage especially for prescription drugs under Medicare Part D, costs for long-term or home-based care that Medicare does not cover, and potential costs related to experimental or alternative therapies not covered by Medicare.
Without supplemental insurance, these out-of-pocket costs can accumulate substantially. For example, the annual cost of prostate cancer oral medication was estimated to be $312 for early stage medication, $312 for continued stage medication, and $5,830 for medication in the last year of a person's life. The estimated annual cost for a person in the first year after their prostate cancer diagnosis, including gross payments, copayments, and deductibles, is $34,739.
Researchers estimated the costs of diagnosis and treatment for localized prostate cancer to the Medicare program and found the total cost to be between $4,887 and $27,899 for males ages 70 years and over within 3 years of diagnosis.
However, help is available for those facing financial hardship. The American Cancer Society provides resources to help people pay for prescription drugs, find short-term housing near cancer treatment centers, and assistance with caregiver expenses. Additionally, several programs may provide financial aid for people with cancer, covering expenses such as housing, transportation, caregiver expenses, food costs, internet expenses, dental care expenses, and other expenses.
People with cancer and limited income or resources may also qualify for Supplemental Security Income (SSI), which pays a monthly benefit for basic needs. It's important to research and take advantage of these resources to help manage the financial burden of prostate cancer treatment.
[1] American Cancer Society. (n.d.). Prostate Cancer Treatment Costs. Retrieved from https://www.cancer.org/cancer/prostate-cancer/treatment/cost-of-prostate-cancer-treatment.html
[2] American Cancer Society. (n.d.). Financial Assistance for People with Cancer. Retrieved from https://www.cancer.org/treatment/finding-and-paying-for-treatment/financial-assistance-for-people-with-cancer.html
[3] American Cancer Society. (n.d.). Prostate Cancer: What You Need to Know. Retrieved from https://www.cancer.org/cancer/prostate-cancer/about/what-is-prostate-cancer.html
- The annual cost of prostate cancer treatment is significant and varies depending on several factors, often accumulating to tens of thousands of dollars in out-of-pocket expenses.
- For individuals diagnosed with prostate cancer, the estimated annual cost for medical services in the first year can reach up to $34,739, including gross payments, copayments, and deductibles.
- For those facing financial hardship due to prostate cancer treatment, resources are available such as help with prescription drugs, temporary housing, and caregiver expenses, provided by organizations like the American Cancer Society.
