Tue Sep 10 17:22:00 UTC 2024: ## Value-Based Care Offers Hope for Financial Toxicity in Cancer Patients
**Cranbury, NJ** – Dr. Mark Fendrick, a professor of primary care at the University of Michigan, spoke at the Community Oncology Alliance (COA) 2024 Payer Exchange about the importance of addressing financial toxicity for cancer patients while optimizing their care. He highlighted the growing problem of high deductibles and out-of-pocket costs, particularly affecting underserved communities and financially vulnerable individuals.
Dr. Fendrick advocated for a shift towards value-based care and value-based insurance design (VBID), where patient costs are based on the clinical benefit of a treatment rather than its price. This approach, he argued, could make high-value treatments more accessible and affordable, while discouraging the use of treatments with little evidence of benefit.
“We need to spend more on the good stuff and less of the bad stuff,” said Dr. Fendrick. “We don’t need to spend more on healthcare, we just need to spend it better.”
He highlighted the impact of the Affordable Care Act’s preventive services provision, which has made cancer screenings free for patients. However, Dr. Fendrick emphasized the need to extend this approach to diagnostic follow-ups and treatment, particularly for expensive treatments like immunotherapy and CAR-T therapy.
Dr. Fendrick was optimistic about the future of VBID and value-based care, citing the Inflation Reduction Act’s provisions that will cap out-of-pocket costs for prescription drugs, including a $2000 annual out-of-pocket maximum for Medicare Part D drugs. This, he believes, will have a significant positive impact on patients struggling with high costs.
“It’s my hope that we continue to inch forward to spend more on the good stuff and less of the bad stuff,” said Dr. Fendrick. “We win the gold medal for spending, but we don’t make the podium in terms of health outcomes. We could do better.”
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