The Leukaemia Foundation is casting the spotlight on figures showing the significant financial distress blood cancer patients and their families are currently facing in Australia, including in Maribyrnong and Hobsons Bay.
Research shows that more than 43 per cent of the patients diagnosed with blood cancer in the past year, experienced out of pocket treatment costs totalling hundreds, and sometimes thousands of dollars.
Adding to the financial hardship is the fact that about 42 per cent of patients had to take more than three months off work during treatment and 30 per cent had to leave their jobs entirely.
It was also found more than 50 per cent have not yet been able to return to work.
Leukaemia Foundation chief executive Chris Tanti said combination of out-of-pocket expenses and the inability to work during or following blood cancer treatment is creating a perfect storm for financial distress.
“Blood cancer is one the nation’s most expensive cancers to treat, creating a significant and sudden financial burden on those Australians diagnosed, and our health system,” he said.
“With incidence on the rise, we’re seeing a shocking number of patients, and their families, reaching out to us for support as the disease financially cripples them, sometimes within weeks.
“We are currently helping patients and families who are being forced use savings, sell assets including cars and homes, or turn to charity food boxes and food banks to survive.
“What’s also distressing, is the fact that these people are often immediately thrown into lifesaving treatment.
“[This leaves] little or no time to get their financial affairs in order, or to work out how they are going to support themselves or their loved ones at home.”
In 2024, an estimated 19,500 further Australians will be diagnosed with blood cancer, including leukaemia, lymphoma, and myeloma, and this figure is set to nearly double by 2035.
Mr Tanti said many Australians are already doing it tough with the rising cost of living but imagine being told you have blood cancer on top of this.
“For the 53 people diagnosed with blood cancer each day, it’s another financial hit to them at a time when they need to focus on their health and surviving their diagnosis.”
The weighted average out-of-pocket costs to an individual with blood cancer ranges from $5000-$11,000, compared with other cancer patients who incur about $2500 in out-of-pocket costs.
Blood cancers myeloma and leukaemia account for two of the top five costliest cancers in the country to treat.
With myeloma alone costing the health system about $46,000 per individual, per year, almost triple the average cost incurred by other cancer patients in Australia.
In the past year, the Leukaemia Foundation has experienced a 36 per cent increase in people living with blood cancer reaching out for financial assistance, with many turning to the charity to help make ends meet.
As the financial burden deepens, the Leukaemia Foundation is reaching out to Australians for help and urging them to get behind this year’s World’s Greatest Shave.
“As a charity that receives no on-going government funding, we heavily rely on the generosity of the Australian community so we can assist blood cancer patients and their loved ones, through this incredibly difficult time,” Mr Tanti said.
“If we are to have any hope of easing the financial burden of blood cancer on those impacted, we desperately need more people to sign up to shave, cut, or colour their hair this March.
“We know that the World’s Greatest Shave alone is not going to solve the problem, but it’s certainly going to make a significant difference to the support we can provide to patients, and their families.
To register to participate in the World’s Greatest Shave this March, sign up now via worldsgreatestshave.com or call 1800 500 088.
