Medical bills even with the help of insurance coverage can cost an arm and a leg, especially when you have to take into account not just your procedure such as a surgery, but also the years of prescriptions you will need to buy, the continual doctors' appointments and checkups, the x-rays and CAT scans; just to name a few. Take a look at a person, who has been diagnosed with cancer, they have to deal with all of the above mentioned as well as chemo treatments, and so much more. Studies show that there are numerous cancer patients who are basically sentenced to death because they are unable to afford all of the associated costs with their illness.
According to the American Society of Hematology in their journal called "Blood," they describe that if a patients is diagnosed with Chronic Myeloid Leukemia (CML), the prices they will have to pay are far too high, which causes many individuals to not receive the full care that they need, or any at all, because they can't afford those payments. The journal notes that even with medical coverage, the majority of American cancer patients still have to come up with 20% of the medical costs out of their own pockets, resulting in at least $20-$30K per year.
This study found that in the U.S. the leading cause of bankruptcy is because of personal illnesses, and the fact that medical bills are so unreasonable, no person can afford it. In 2012, the Food and Drug Administration approved 12 new cancer drugs to be placed on the market, all but one of these drugs will cost $100,000 annually, requiring the patient to come up with about a quarter of the price. What is so interesting is the fact that just ten years ago the same sorts of cancer drugs only cost about $5,000 a month. The difference? That's about $60,000 per year, which would be much more reasonable for a patient to pay out of pocket if they were required to front about 20% of the cost. Many doctors today are very concerned with the way drugs are being marketed, claiming that their patients' lives are being put at risk if not taken because of the outrageous price to pay for their treatment.
The "Blood" journal is a peer-reviewed publication that requires the scrutiny and input of prestigious doctors in their field of medicine, it is not a street article that was written by an angry patient trying to get back a the system, but rather this research is being done by professionals who want to see change in the system for the sake of their ill patients. This particular article addressing CML is supported by an estimated 120 expert CML doctors around the world from at least 15 different countries on five continents, making this a highly educated and well researched publication.
This option of "pay or die" is one that no patient should have to fear, and yet so many do. In many cases, people who are ill don't have the ability to pay for their treatment in the first place, or if they do, they quickly lose their funds because of their illness, as they are no longer able to go into work every day to bring in the income they need for their treatments. according to the article, in the U.S. (largely because of the high rates of medical costs) Americans only have a 60% survival rate from CML, whereas in the country of Sweden they have a 20% higher chance of survival because the costs of medical treatment are more carefully regulated to be available to the general public.
If you are a victim of debt because of medical costs, use our website to help you find a trusted bankruptcy attorney in your area today.