While there’s never a good time to get a cancer diagnosis, patients now benefit from novel treatments and options previously unavailable. But if it feels like cancer costs and complexity are spiraling upwards, they are. As payers approve and fund treatments for the lives they cover, they are considering a number of factors: FDA approval, evidence-based results and value-based care.
Globally, oncology spending will rise to an estimated $250 billion in 2023i. “About 40 percent of those costs are for active treatment therapeutics,” said Roger Shedlin, MD, JD, president and CEO, Medical Benefit Management (MBM), Optum. “The trend is being driven by significant advancements in the space, and new drugs hitting the market.”
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