Cost of Cancer Treatment the Factors Affecting It

Posted in Health Insurance Blogs By Bajaj Markets-
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In the next 20 years, the number of cancer patients is set to double from what it is today. Bihar, Uttar Pradesh, Jharkhand and Orissa are the four states which will witness the highest burden of cancer in the coming years.

This can be attributed to the fact that there is a huge demand for better cancer care facilities such as early diagnosis, trained health workers and effective treatment methods.

Currently, there’s a significant lack of such facilities. Rising life expectancy further widens this gap, with more Indians suffering from age related cancers in the coming years. These include breast cancer in women and prostate cancer in men.

What is even worse than being diagnosed with this life-threatening disease is the inability to fight it because of a paucity of finances. The astronomical cost of cancer treatment is enough to strip you of all your savings and even make you bankrupt.

This is especially true when you do not opt for a policy that offers cancer insurance early in life. So, the answer to the question – should you opt for a cancer insurance policy is a resounding yes!

There are several factors which influence the expenditure incurred once a person is detected with cancer. Let us understand the full burden of the cost of cancer treatment to fully comprehend the grave necessity of opting for a special cancer insurance policy. Here’s what influences the cost of cancer treatment:

1. Type of cancer:

The medicines that are prescribed to the patient along with the rate of relapse and rehabilitation differs from one type of cancer to another. While cancer of the lung and oral cavity is seen in most men, women report more cases of breast and cervical cancer.


Cost of Cancer Treatment


2. Method of treatment:

Radiotherapy, chemotherapy, surgery and transplant are some of the procedures that a patient suffering from cancer has to go through as advised by the physician. Each of these procedures uses its own drugs and equipment among other resources. If the patient has any other medical condition, it can further escalate costs. You may have to shell out Rs. 65,000 and above for a single chemo session, while radiation can set you back anywhere between 10 to 20 lakhs. A combination of both these methods is usually prescribed which makes the cost of cancer treatment a financial burden. Transplants can go up to a whopping 50 lakhs specifically for bone marrow. You can go bankrupt financing such an outstanding amount if you don’t have cancer insurance.


Cost of Cancer Treatment


3. Stage of cancer:

The earlier you are diagnosed with cancer, more are your chances of survival and less treatment expenses. With 46% of cancer patients diagnosed at the second stage or earlier and 18% in the third and fourth stage on an average, the forecast is grim as out-of- pocket expenses show no sign of reduction. Lack of awareness is the reason behind these numbers and can cost you dearly.

4. Treatment duration:

The longer you find yourself in treatment, the higher the cost will be. This depends on the type and stage of cancer as well as the suggestion of your oncologist. Some cancer patients may need more chemo cycles thus upping the cost of cancer treatment for them.

5. Paucity of doctors and medical facilities:

There are only 10 to 12 centers of excellence in India and close to 1500 oncologists. This lack of infrastructure forces patients from smaller towns flock to cities to get treated at these centers. They often have to wait for months during which the cancer advances. With most of them devoid of any health insurance policy, the battle against cancer is already lost.

6. Low insurance penetration:

Only 11 percent Indians have recognized the importance of health insurance. Do you know that paying a nominal amount every year towards health insurance can save from spending your retirement savings should cancer strike?

Not just cancer, but the number of deaths due to cardiovascular diseases, respiratory diseases and diabetes are rising every year due to changing lifestyles, diets, sleep patterns, pollution and other reasons. In addition to opting for a health insurance policy for your fight against diseases like cancer, you prepare for the onslaught of any disease by opting for health insurance. You can check out the health insurance policy available on Bajaj Markets. You can avail cashless claims at all network hospitals, coverage of pre and post hospitalization expenses, free medical check –ups and much more.

Health insurance available on Bajaj Markets also comes with tax benefits. You can save up to Rs. 75,000 that you pay as premiums of your policy under Section 80D through health insurance tax exemption. Choose medical coverage ranging from 1.5 lakh to 50 Lakhs as per your need. You can be assured of a fast claim settlement process with the 94 percent success rate of Bajaj Markets.

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