From the Guidelines
Startups are making cancer treatment more affordable through innovative approaches such as developing biosimilars, direct-to-consumer models, technology-driven solutions, value-based payment models, targeted therapies, and patient advocacy platforms. These approaches aim to reduce the financial burden of cancer care on patients, families, and society. For instance, biosimilars can reduce prices by 15-30% compared to expensive biologic cancer drugs like Herceptin and Avastin 1. Direct-to-consumer models, such as subscription services like CivicaRx, eliminate middlemen and offer cancer medications at wholesale prices. Technology-driven solutions, including AI diagnostic tools and telehealth platforms, can detect cancer earlier and reduce the need for costly hospital visits, as noted in the American Society of Clinical Oncology guidance statement on the cost of cancer care 1.
Some key strategies employed by startups include:
- Developing targeted therapies that focus on specific genetic mutations, potentially reducing the need for broader, more expensive treatments
- Creating patient advocacy platforms to help navigate insurance coverage and financial assistance programs
- Implementing value-based payment models where payment is tied to treatment outcomes rather than service volume
- Utilizing AI diagnostic tools to detect cancer earlier when treatment is less expensive
- Offering telehealth platforms to reduce the need for costly hospital visits
The increasing cost of cancer care is a significant concern, with the United States spending approximately 16% of its gross domestic product on health care, and cancer care accounting for approximately 5% of health care spending 1. The economic burden of cancer care can have a profound impact on individual patients and their families, with many facing financial challenges despite having health insurance 1. Therefore, it is essential to address the increasing cost of cancer care through innovative and cost-effective solutions, as emphasized in the American Society of Clinical Oncology guidance statement on the cost of cancer care 1.
From the Research
Startups' Role in Affordable Cancer Treatment
- Startups are playing a significant role in making cancer treatment more affordable by leveraging innovative technologies and approaches 2, 3.
- These technologies include advances in immunotherapy, nanotechnology, and theranostics, which are driving the next generation of cancer treatments 2.
- Startups are also working on developing novel therapeutic strategies involving areas like energy metabolism and extracellular vesicles, which can lead to promising new treatment options for a range of cancer types 2, 4.
Enhancing Access to Innovative Cancer Drugs
- There is an urgent need for imaginative policy solutions to incentivize the creation of novel therapies that address the full range of cancer-causing mechanisms 3.
- Startups are working with organizations across the medical research community to develop consensus statements on how to enhance access to innovative cancer drugs 3.
- The use of monoclonal antibodies like nivolumab and pembrolizumab, which are interchangeable, can help global payers contain the cost of cancer therapeutics 5.
Innovative Approaches for Cancer Treatment
- Startups are exploring innovative approaches for cancer treatment, including nanomedicine, bioengineering of extracellular vesicles, and cells derived from patients 4.
- These approaches can alleviate critical side effects caused by conventional treatments and provide more efficient therapies 4.
- The National Institutes of Health Affordable Cancer Technologies Program is also working to improve access to resource-appropriate technologies for cancer detection, diagnosis, monitoring, and treatment in low- and middle-income countries 6.
Point-of-Care Technologies
- Point-of-care technologies have shown promise in cancer detection, diagnosis, monitoring, and treatment in low- and middle-income countries 6.
- Startups are working to adapt and validate existing technologies for cancer detection, diagnosis, and treatment in low- and middle-income countries, making them more accessible and affordable 6.