When we talk about “toxicity” in cancer care, most think of the physical side effects of treatment. But there’s another form that can be just as devastating: financial toxicity.
Research shows the scope of this burden[1]:
- 42% of patients with cancer report significant financial strain
- 20% take less medication than prescribed due to cost
- 46% dip into savings to cover out-of-pocket expenses
- 68% cut back on leisure activities to manage bills
The financial toll doesn’t stop there. Patients with cancer are five times more likely to experience bankruptcy than those without cancer, and many see their credit scores drop as a result of mounting medical expenses.[2]
Financial toxicity is more than an economic challenge, it’s a hidden side effect of cancer that impacts treatment adherence, mental health, and overall quality of life.
What Is Financial Toxicity?
Financial toxicity refers to the financial strain and the emotional stress that patients and their families face due to the high costs of cancer care. These burdens go far beyond medical bills and touch nearly every aspect of life. Families often grapple with:
- Out-of-pocket medical expenses such as copays, deductibles, and coinsurance
- Transportation to and from appointments
- Temporary lodging and meals during treatment
- Lost income from time away from work for both patients and caregivers
- Additional costs like childcare
These hardships don’t always end when treatment does. For many, the financial effects of cancer linger long after active care, forcing patients and their families into difficult trade-offs that affect daily life and overall well-being.
The Impact of Financial Toxicity on Quality of Life
The cost of cancer care doesn’t just strain finances, it deeply affects emotional and physical well-being. Financial stress is closely tied to higher rates of anxiety and depression, which in turn can reduce treatment adherence and compromise outcomes. In fact, research shows that financial toxicity is one of the strongest predictors of poor quality of life among cancer survivors.[3]
Beyond medical impact, these financial pressures often limit social connections, as patients may withdraw from activities with friends and neighbors. The result is isolation, diminished well-being, and an overall decline in quality of life.
How Iris by OncoHealth Makes a Difference
Iris by OncoHealth® is a cancer support program that supports individuals with cancer and their families through the emotional, physical, and financial challenges of diagnosis and treatment.
Designed to meet members where they are, Iris combines a digital engagement platform with access to licensed oncology social workers, oncology-certified nurses, and registered dietitians specializing in cancer care. This integrated approach delivers expert guidance that extends beyond the doctor’s office and provides a personalized experience available anytime, anywhere.
By proactively addressing issues like financial strain, social determinants of health, and unmet resource needs, Iris closes gaps in care and delivers continuous, compassionate support — improving quality of life for patients while helping health plans and employers lower avoidable costs and achieve better outcomes.
[1] Impact of financial burden of cancer on survivors’ quality of life, Journal of Oncology Practice