Patients diagnosed with major diseases, including cancer, often experience financial hardship due to high out-of-pocket medical costs in the United States. However, little is known about changes in income, wealth, and debt before and after major disease diagnoses. New data by researchers at the American Cancer Society (ACS) shows these families face various new types of debts, especially medical debt, after diagnoses. Moreover, newly diagnosed with cancer is associated with an increased likelihood of experiencing medical debt. The findings will be presented at the annual American Society of Clinical Oncology (ASCO) Quality Care Symposium in San Francisco, September 27 – 28, 2024.
