Many Cancer Patients Must Face Bankruptcy—Or Die - Distressed Volatility


Sunday, August 14, 2016

Many Cancer Patients Must Face Bankruptcy—Or Die

The monthly cost for new cancer drugs, especially immunologically or genomically based therapies, has increased seventy-sevenfold since 1975. A single drug can now cost over $300,000 per year. New studies showing promising clinical results with combinations of new drugs can potentially drive the cost of care to close to $1 million annually.

Health care spending in the United States is like a runaway train. It seemingly can’t be slowed. In 2014, the U.S. spent over $3 trillion on health care. About 17 percent of our gross domestic product is used on health care expenditures, almost double what is spent in the U.K. (8.8 percent) and 50 percent higher…

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