CAPC Releases New Position Statement: Addressing Financial Toxicity in Serious Illness
People living with serious illness in the U.S. are not only navigating complex medical conditions—they’re also facing overwhelming financial hardship. Today, CAPC released a new position statement, highlighting that the prevalence of financial distress for patients and caregivers can climb as high as 53%, depending on diagnosis.
The consequences of financial toxicity—a term that captures the physical, material, and financial burdens that result from the high costs of medical care—are staggering, manifesting in medical debt, insufficient assets, low credit scores, and bankruptcy. Financial toxicity can also lead to delayed treatment, skipped medications, or other cost-related coping mechanisms—worsening health outcomes and increasing costs for hospitals and payers alike.
But there is a path forward. CAPC’s new position statement outlines eight recommendations that can ease hardship for patients and caregivers, while improving financial stability for hospitals.