The Economic Impact of Cancer

Cancer is an expensive illness. Millions of people suffer from it and are treated each year for the disease, but what impact does it really have upon the economy? The answer to this question is actually quite surprising. Cancer is not cheap to treat, but it takes a toll on much more than the healthcare costs, too. Things like worker productivity and the expenses that relatives might have in order to compensate for their family member's illness are also major factor that contribute to the economic impact of cancer.

When someone has cancer, they need to go through a whole lot of tests and treatments. These are expensive and time intensive procedures. The impact of the cost of healthcare is pretty easy to determine, but there are so many other variables that go along with this illness that it is hard to say just what kind of economic impact it has. Europe recently conducted a study to try and estimate the social and financial impact of cancer up the society. If you look at a nation like Germany, the average cost for treating cancer is over 160 Euros per individual residing within the nation. This is the equivalent of about $200 per person per year. This is obviously a huge economic factor and impacts almost everyone within the nation somehow.

Perhaps the hardest part about cancer is that when the disease is advanced, caregivers are often required. This presents a double whammy in many instances. For example, if you have a family member caring for you, that family member's money making ability becomes significantly lower. Caring for a family member is a noble task, but it has a definite economic drain upon families.

This is where getting help can be a big advantage for your family. If you have an elderly loved one with cancer, you should consider having an assisted living facility watch them. People need to work to make a living, and if you are unable to make a living, your entire family will suffer. Assisted living is not free, but in many cases, you will be able to offset the cost of assisted living while you work.

There's no reason to feel that this is giving up or giving in. Assisted living provides an extremely valuable service and it is certainly not a concession upon your behalf. If you want, you can visit your loved one every day while they are in assisted living. For the family to function at its best, this might become a necessary step for you. No one wants to have to put a family member in an assisted living facility, but it can be extremely beneficial, not just from a financial standpoint, but for their own wellbeing, too.