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To help cancer programs and practices establish and maintain robust financial navigation programs, ACCC's Financial Advocacy Network recently developed the “Ready, Set, Go! Financial Advocacy Playbook” for all members of the cancer care team—particularly those who provide any level of financial advocacy services.
As the costs of cancer care continue to rise and the responsibility for payment falls increasingly on patients, cancer programs and practices across the country need dedicated staff to help patients afford their care. Financial advocates must be able to help patients understand their treatment costs, know what their insurance plans cover, and identify financial assistance options when necessary. It is well understood among members of the cancer care team that patients diagnosed with cancer may face financial toxicity, another word for the financial distress patients experience experience when they struggle to pay for out-of-pocket medical and associated costs. This can force some patients to have to make tough choices between, for example, complying with their treatment regimen or affording childcare, transportation, or food/groceries.
One study of patients with cancer who were at least six months into treatment found that 49% reported increased financial stress, and 32% reported increased financial strain (due to the experienced financial stress)—leading to depression, anxiety, and distress related to their finances. The same study also found that patients with cancer are 2.65 times more likely to go bankrupt than those without cancer. As these data suggest, financial advocacy services are an essential part of treating the whole patient. Financial advocates allow patients to fully focus on their physical health and treatment rather than worry about the impact their diagnosis may have on their personal finances.
To help cancer programs and practices establish and maintain robust financial navigation programs, the Association of Community Cancer Center’s Financial Advocacy Network recently developed the “Ready, Set, Go! Financial Advocacy Playbook” for all members of the cancer care team—and particularly those who provide any level of financial advocacy services. To create the Playbook, the Network brought together experts in financial advocacy to create a tool that can help train new financial advocates and provide additional training and resources for financial advocates already on the team. Readers will learn the basics of financial advocacy, including common terminology and definitions, details on benefits verification, financial distress screening, prior authorizations, insurance education and optimization, and available financial assistance options for qualifying patients.
“The knowledge and processes shared in this Playbook will significantly help you and your colleagues gain a better understanding of financial advocacy,” says Lori Schneider, chair of the ACCC Financial Advocacy Network and oncology operations manager at Green Bay Oncology in Green Bay, Wisc. You can download the Playbook now from the ACCC website.
Prior to launching the Playbook, the ACCC Financial Advocacy Network updated its Financial Advocacy Toolkit. The Toolkit is a collection of resources for financial advocates in need of support with the development, implementation, and continued delivery of effective financial advocacy services. The kit contains position descriptions for financial advocates, tools for effective communication, information about insurance processes, instruction on how to handle denials, and patient-specific information. It also now allows users to streamline their search for resources to support cancer programs, their patients, and financial advocacy-related topics.
Both the Financial Advocacy Playbook and Toolkit are key resources for financial advocates in any treatment setting. They should be used in tandem to help financial advocacy staff better provide the services that can help patients with their insurance processes, treatment costs, and financial assistance applications. The ACCC Financial Advocacy Network is proud of its efforts in defining and creating these robust resources, and it will continue to update both resources to reflect the ever-changing landscape of oncology and reimbursement/payment for cancer care.