The moment a physician gives a cancer diagnosis is a life changing moment. Those who are battling this disease may seek recommended treatments and medications. Unfortunately, the costs associated with these treatments are often very high. Even those who have insurance may find they are left with a large medical bill.
Just how expensive is cancer treatment? The costs of some prescriptions used for cancer treatment are so outrageous that even medical professionals are voicing frustrations.
Outrageous indeed. Oncology therapies can cost over $100,000 annually. A single medication can run $9,000 per month. With these figures, it is no wonder that those who are battling cancer may also considering filing for financial relief through bankruptcy.
In addition to causing frustrations, these high figures have also fueled some physicians to take a stance against the pharmaceutical industry. A recent publication by the Washington Post brings attention to a group of physicians that is testing the efficiency of cancer medications at lower doses. The physicians are hoping to establish that a lower dose of these pricy medications is just as effective as the recommended, larger dose. If successful, the study could hurt the pharmaceutical industry’s bottom line.
What can I do if I cannot manage medical debt? If you find yourself struggling to pay medical bills, you are not alone. In many cases, medical debt is dischargeable in bankruptcy. As a result, a successful petition for financial relief through a Chapter 7 bankruptcy petition can help reduce your financial worries and set you up for a fresh financial start.
If you are considering this option, it is wise to seek legal counsel. An experienced bankruptcy lawyer can review the details of your financial situation and provide guidance on the best available option.
