ASCO's New Strategy to Define 'Value' in Cancer Care

The American Society of Clinical Oncology (ASCO) has launched a strategic initiative to define value in cancer care.

The organization is currently developing a working definition of value that is specific to oncology, and their Value in Cancer Care Task Force is working on an algorithm that will help oncologists determine the value of different cancer treatments. Within this framework, value will be defined by clinical benefit, toxicity, and cost.

The recent ASCO State of Cancer Care in America: 2014 report makes it clear that the United States cannot sustain the continually rising cost of cancer care, said Lowell Schnipper, MD, chair of Value in Cancer Care Task Force.

It is projected that the annual cost will increase to $173 billion by 2020, which is an increase of 40% from 2010, he told to Medscape Medical News. At the same time, the demand for cancer care services is growing significantly, in large part because of the aging population, and it is estimated that the number of new cancer cases in United States will increase by 45% by 2030.

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Source: Medscape