Leading Experts Prescribe How to Make Cancer Drugs More Affordable

In support of our Mayo Clinic colleagues and Mayo Medical Laboratories clients, we are proud to announce a group of 118 of the nation's leading cancer experts have drafted a prescription for reducing the high cost of cancer drugs and voiced support for a patient-based grassroots movement demanding action on the issue. Their recommendations and support are outlined in a commentary, co-authored by the group, in the journal Mayo Clinic Proceedings.

"High cancer drug prices are affecting the care of patients with cancer and our health care system," says lead author Ayalew Tefferi, M.D., a hematologist at Mayo Clinic. "The average gross household income in the U.S. is about $52,000 per year. For an insured patient with cancer who needs a drug that costs $120,000 per year, the out-of-pocket expenses could be as much as $25,000 to $30,000 – more than half their average household income."

The group cites a 2015 study by D.H. Howard and colleagues et al, published in the Journal of Economic Perspectives,which found that cancer drug prices have risen by an average of $8,500 per year over the past 15 years.

"When you consider that cancer will affect 1 in 3 individuals over their lifetime, and [with] recent trends in insurance coverage [that] put a heavy financial burden on patients with out-of-pocket expenses, you quickly see that the situation is not sustainable," Dr. Tefferi, says. "It's time for patients and their physicians to call for change."

The group says these actions would improve the situation and allow market forces to work better.

The group also supports the patient-based, grass-roots movement on change.org that advocates against high cancer drug prices with the goal of drawing the attention of pharmaceutical companies and elected representatives to this issue. The authors write, "with proper support of these grass-roots efforts and proper use of that support downstream, it should be possible to focus the attention of pharmaceutical companies on this problem and to encourage our elected representatives to more effectively advocate for the interests of their most important constituents among the stakeholders in cancer – American cancer patients."

 

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Kelley Schreiber

Kelley Schreiber is a Marketing Channel Manager at Mayo Medical Laboratories. She is the principle editor and writer of Insights and leads social media and direct marketing strategy. Kelley has worked at Mayo Clinic since 2013. Outside of work, you can find Kelley running, traveling, playing with her new kitten, and exploring new foods.