Saving lives can save money  

“We need to change the narrative. Health is not a cost. It is an investment. Investing in health is the most important thing a city or a country can do for the future of its population.” Dr Salomón Chertorivski, Secretary of Economic Development for Mexico City, and former Minister of Health for Mexico

There is a compelling financial argument for committing resources to cancer control. Financial investment can be cost-effective and can potentially save the global economy billions of dollars in cancer treatment costs and offer positive gains in increased survival, productivity and improved quality of life. 

Global and national economic impact

Cancer is one of the critical issues causing economic and financial burden in the world today.

The growing incidence of cancer means that the health budgets of nations worldwide are being threatened, with nations facing lost productivity through premature deaths and time taken off from work.  

Public budgets for medicines and medical equipment are also being strained due to the high cost of treatment. 

 

Fast fact: The total annual economic cost of cancer is estimated at approximately US$1.16 trillion[1].

 

Financial burden on individuals and families   

Individuals living with cancer and their carers often take a double-hit on their finances.  

Out-of-pocket expenditures for ongoing and expensive treatments like surgery or chemotherapy and lost income and benefits from taking time off work combine to create a catastrophic financial burden.

For many, this can lead to drained savings, borrowing money or selling assets. Those who struggle often give up on going to medical appointments because of the cost of transportation, cutting back on food, education and/or defaulting on bill payments[3].

The financial toll can also be a source of additional anxiety and stress for both patient and caregivers during an already difficult time[4].  

Caregiving may also reduce a person’s chance of being employed and many are unable to work, need to take leave without pay, have fewer work hours, are in lower paid jobs or work from home. 

Saving lives can save money

Investment in cancer prevention, early detection and control is critical to helping save lives. But it can also save money. 

There is a compelling and financial argument for investment: taking action can be cost-effective and have a return on investment. 

For example, by investing 11USD billion in prevention strategies in low- to middle-income countries, this could potentially save 100USD billion in cancer treatment costs[5].  

By recognising that investing in cancer is a smart move, governments can justify placing cancer control at the heart of their national health plans.

Spotlight: Tobacco control 

The economic costs of tobacco-related cancers exceed USD 200 billion each year. Yet there are many cost-effective measures that governments can take to offset this cost. Increasing excise taxes on tobacco products is considered to be one of the most affordable and effective ways of controlling tobacco[6]. The World Health Organization estimates that raising taxes doesn’t only save millions of lives, it can also increase government revenue. 

Fast fact: if countries increased tobacco tax by 50% per pack, governments around the world would earn an extra USD 101 billion in revenue[7].

What can we do? 

  • Workplaces can support policies for paid sick leave and paid caregiving leave 
  • Social and healthcare workers can also be equipped to help patients and caregivers understand the financial needs for ongoing treatment, medicines and care 
  • The financial sector including the banking and insurance industry can help to ensure their products and policies are responsive to the needs of cancer patients 
  • Governments can put in place policies that provide sufficient financial support and benefits to cancer patients and caregivers 
  • Governments should consider investing in cancer care, as a core component of all health systems
  • Governments should use national cancer data to identify the most effective interventions that provide  maximum health gains for the available resources. 

 

 


[1]IARC World cancer report (2014) http://publications.iarc.fr/Non-Series-Publications/World-Cancer-Report…

[2]International Agency for Research on Cancer (2018) Press release No 255: $46 billion in productivity lost to cancer in major emerging economies.   

[3]Macmillan Cancer Support. No small change: Time to act on the financial impact of cancer. Accessed: 06.07.2018: https://www.macmillan.org.uk/documents/policy/money-and-cancer-policy-r…

[4]Macmillan Cancer Support. No small change: Time to act on the financial impact of cancer. Accessed: 06.07.2018: https://www.macmillan.org.uk/documents/policy/money-and-cancer-policy-r…

[5]Knaul FM, Arreola-Ornelas H, Atun R, Mendez O, Guerrero R, Alsan M, Seinfeld J.: Investing in cancer care and control. Chapter 3 in: Knaul FM, Gralow JR, Atun R, Bhadelia

A. editors for the Global Task Force on Expanded Access to Cancer Care and Control in Developing Countries. Closing the Cancer Divide: An Equity Imperative. Cambridge, MA:

Harvard GlobalEquity Initiative; 2012. Distributed by Harvard University Press.

[6]Chaloupka F, Yurekli A, Fong G. Tobacco Taxes as a Tobacco Control Strategy. Tobacco Control. 2013.

[7]World Health Organization. (2014). Raising tax on tobacco - What you need to know, Geneva: WHO Press.