Treating cancer is expensive and according to the American Cancer Society, the cost isn’t just incurred by the patient, but society as a whole. Here are some interesting economic facts and stats about cancer and cancer treatment in the U.S.
In 2014, the medical costs of treating cancer patients in the U.S. was estimated at around $88 billion, of which 58 percent was outpatient services and 27 percent was inpatient services.
Cost of Being Uninsured
Cancer treatment is expensive and patients need to have adequate insurance to ensure they receive the best treatment. Unfortunately, there were approximately 29 million Americans who didn’t have health insurance in 2015, totalling 9 percent of the population. This varied from state to state with only 3 percent uninsured in Massachusetts and a staggering 17 percent uninsured in Texas.
The uninsured are more likely to come from minority backgrounds. Sadly, they are more likely to be diagnosed with cancer at a later stage when treatment is more expensive and less effective.
Cost of Life
It’s estimated that one in four people in the U.S. will die of cancer. This year around 600,920 people will die from some form of cancer, which is about 1,650 people per day. Cancer is the second biggest killer in the country, following heart disease.
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