Cost Considerations in Treatment
As with most cancers, multiple myeloma can be costly to treat. Navigating the financial aspects of treatment is an important part of your planning process, and you should ask about the cost of different options before agreeing to any therapy. There can be a big difference in cost between two treatments. If you are uncomfortable discussing cost with your healthcare team, ask to be assigned an oncology social worker with whom you feel more at ease revealing personal financial information. This is a great time to ask a caregiver to get involved in your care, too.
Find out what your insurance covers and what you have to pay out of your own pocket, not only for drugs, but for physician visits and hospital stays. Doctors and hospitals may offer different payment terms versus charging medical expenses to credit cards. Oral drugs and injection/infusion drugs, for example, often have different coverage.
Finances tend to be one of our biggest stressors as a family dealing with multiple myeloma. In order to stay on top of the medical bills, we had to cut costs from daily expenses - but we quickly realized that wasn't going to be enough.
Ask about patient advocacy programs with the national myeloma organizations and/or within your treatment center. A patient advocate or oncology social worker can help you navigate the insurance maze and identify financial assistance programs. They may also be able to help with other tips for reducing expenses, such as using low-cost generics for painkillers and antibiotics. Multiple myeloma organizations and some manufacturers have patient assistance programs that sometimes also help when insurance companies deny coverage. The PhRMA Partnership for Prescription Assistance can help patients without prescription drug coverage to get the medicines they need through the program that is right for them. Please visit the Resources section for contact information.
Here are some things you should ask with each new treatment regimen:
- Out-of-pocket costs and co-pays for drugs you take at home (such as pills) or those administered to you in the doctor’s office (such as injections).
- Supportive care therapies to manage effects of the disease and/or side effects, such as medications to treat infections, reduce the risk of blood clots and manage pain. Some are inexpensive, but others can be costly.
*Adapted from EveryDayHealth.com.
BRENDA
Diagnosed with Multiple Myeloma
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Brenda, on the financial challenges she faces as a self-employed entrepreneur.
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WATCH THE VIDEO
GINNY
Oncology Social Worker
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Ginny, on how an oncology social worker can help navigate the financial aspects of managing multiple myeloma.
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PAT
Diagnosed with Multiple Myeloma
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Pat, on how he and his wife deal with the financial responsibilities of multiple myeloma.
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PATTIE
Caregiver
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Pattie, on advice for caregivers and the importance of discussing finances while managing your loved one's care.
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ASSOCIATION OF ONCOLOGY SOCIAL WORK SURVEY
A survey by the Association of Oncology Social Work shows that the cost of cancer care negatively affects the ability of more than half of cancer patients to focus on their recovery.
Yet only about a third of patients discuss the cost of treatment with their oncologist. According to the survey, almost 30% of patients have delayed filling prescriptions due to financial pressures, and one-in-five have skipped a dose to lower costs.
