Cancer survival rates are significantly impacted by credit scores, according to a recent study. The research, presented at the American College of Surgeons Clinical Congress, reveals that a decline in credit scores among cancer patients is associated with a higher risk of mortality, regardless of their initial credit status. This finding highlights the potential financial burden's impact on cancer patients' long-term survival.
The study's author, Benjamin James, emphasizes the importance of objective data, as previous research relied on self-reported financial burdens, which are susceptible to recall bias. By analyzing de-identified clinical data from 90,000 cancer patients in the Massachusetts Cancer Registry and financial information from a national credit bureau, the researchers uncovered a strong correlation between credit score drops and increased mortality rates.
When a patient's credit score dropped by two tiers within a year, their mortality rate increased by nearly 30%. This figure rose to 63% for those whose credit score dropped by two tiers within six months. The study's findings suggest that financial toxicity, such as medical bills, can significantly impact cancer patients' survival, potentially leading to life-threatening decisions.
James explains that credit scores are a reliable indicator of financial health and can change over time. The study's focus on credit scores aims to understand the long-term survival impact of financial toxicity. The research revealed that patients with lower credit scores at baseline were more likely to die, a finding consistent with social determinants of health.
The study's key finding was the association between credit score drops and mortality, even after adjusting for social determinants of health. A two-tier credit score drop within a year increased mortality by nearly 30%, while a two-tier drop within six months was linked to a 63% increase in mortality. This highlights the significant impact of financial toxicity on cancer patients' survival.
The researchers propose several reasons for the link between credit score declines and mortality. One possibility is that patients obtain less care due to financial constraints, leading to a higher likelihood of death. Another explanation is that as patients' health deteriorates, their credit scores may decline due to a lack of treatment or palliative care, creating a chicken-or-egg scenario.
To address these issues, James suggests policy reform. He argues that medical debt should not negatively impact credit scores and advocates for legislation to prevent aggressive collection agency practices targeting medical debt. Providing financial navigators at the diagnosis stage is also crucial to help patients understand the financial implications of their cancer treatment.
The study's findings have significant implications, especially in states with lower health insurance coverage. As the United States faces a potential loss of health insurance for 25 million people, the impact of financial toxicity on cancer patients' survival may worsen. The study emphasizes the need for comprehensive health insurance coverage and financial support to ensure cancer patients receive the necessary care without facing financial burdens that could jeopardize their lives.
