BUSINESS
FINANCIAL PLANNING WITH REEM ASAAD The C Word
Yes, it is scary – cancer can be a nightmare.
Newly approved cancer drugs cost an average of $10,000 per month, with some therapies topping $30,000 per month, according to American Society of Medical Oncology (ASCO). So an average year's worth of new drugs would cost $24,000 to $36,000 in addition to health insurance premiums.
What is Cancer? According to cancer.org, cancer is a group of diseases characterized by the uncontrolled growth and spread of abnormal cells. If the spread is not controlled, it can result in death. The medical consequences, the looming end of life, the painful treatment (if available), shattered hopes, disrupted plans and dreams, leaving our loved ones; these are just some of the emotions associated with cancer. Sadly, there is another detriment to this debilitating disease: Financial burden. According to the American Cancer Society (ACS), the estimated medical costs for cancer in the US in 2011 reached $88 billion (SR 330 billion), about 17 percent of the entire GDP of Saudi Arabia for that year. In the GCC, over the period 1998-2009, the number of new cases of cancer reached 23,000 of which 22 percent is breast cancer. 16 DESTINATION RIYADH OCTOBER 2015
Economic Impact of Cancer So how much does it cost to receive cancer treatment? The financial costs of cancer are high for both the person with cancer and for society as a whole. One of the major costs of cancer is treatment. But lack of health insurance and other barriers to health care prevent many patients from getting optimal health care. This means that many cases go undiagnosed until a later stage when treatment can be more extensive, more costly and less successful.
So what can you do? Regular checkups, mammograms, wholesome exercise and healthful meals can all contribute to a better quality of life a whole and detecting disease early on. For more information, visit cancer.org. Also, tune in for the biggest awareness campaign for breast cancer in Saudi Arabia: 10KSA. The Author: Reem Asaad is an inspirational Saudi woman. She is a wife, mother, writer and financial adviser. Asaad was ranked the third most powerful Arab Woman in 2012 by Arabian Business Magazine. Email: Nasi7atreem@gmail.com Nasi7atreem