The economic impact on the nation is something that may not come to mind when you think about the impacts of cancer. While you might have known that cancer is the second leading cause of death in the United States, you likely didn’t realize that the economic burden of this disease is approximately 1.8% of gross domestic product (GDP). This is for a multitude of reasons — high costs of treatment and medicine, rising need nationwide, specialized doctors, costly research, and more — but the reasons are irrelevant in that when a patient gets to that point of need, they will likely shell out much more than they can afford. This leaves individuals and businesses struggling even if treatment goes well.
Dr. Jessica Ohemeng-Dapaah works at the intersection of early cancer detection and cutting-edge treatments designed to reduce financial and health burdens on both patients and healthcare systems. Looking at her mission through a cultural lens allows Dr. Ohemeng-Dapaah to cultivate compassion and worldliness in her work, improving patient outcomes and lessening financial burdens across the board. She studies trends in the nationwide impact of cancer on individuals and the economy, maintaining focus on the big picture by balancing high-stakes decision-making with long-term impact.
When it comes to cancer treatment and innovation in the industry, Dr. Ohemeng-Dapaah foresees CAR T-cell therapy being very successful in training the body’s immune system to fight malignancies by genetically altering those immune cells. This treatment has the potential to upend cancer treatment as we know it and enhance patient outcomes. Alongside AI and machine learning, as well as other advancements in treating cancer at lower cost and lower risk of toxicity to patients through intensive treatments, CAR T-cell therapy might help one day bridge the gap posed by socioeconomic barriers, allowing all people who need treatment to receive it without financial devastation.
The escalating cost of cancer treatment is posing a massive threat to American cancer care. The financial burden on patients, businesses, and the economy is growing too heavy to bear for some: diminishing access to care, pulling families into financial ruin, and stretching employer-offered insurance programs to their limits. One way to offset this is optimized and proactive cancer treatment, which can mean a number of things. A solution is for companies to encourage timely and routine screening, which is proven to reduce non-urgent emergency room visits and hospitalizations.
“Early diagnosis allows individuals to remain in the workforce and reduces productivity losses from absenteeism due to illness,” says Dr. Ohemeng-Dapaah. “By improving health outcomes and reducing financial burdens, these measures contribute to a more resilient and robust economy.” Companies can support their employees’ overall health by supporting preventative treatment and screening while also minimizing downtime in the organization, all the while keeping humanity at the forefront.
For entrepreneurs building solutions in healthcare and beyond, the ability to delegate tasks while remaining accessible as a leader is integral to effectively and efficiently solving problems. Leaders need to be present with their teams to instill confidence in them that they are fully capable individuals and that their leader is right there to support them should they need it. Fostering a culture of trust and loyalty is essential to success, and showing employees by example is key.
“Entrepreneurs aiming to improve healthcare access and affordability should focus on developing solutions that cater to all socioeconomic classes, ensuring that financial barriers do not prevent underserved populations from receiving the care they need,” Dr. Ohemeng-Dapaah says. “By investing in preventive care such as wellness workshops, health issues can be addressed before they become severe, reducing long-term healthcare costs. Furthermore, supporting research into novel therapies can result in breakthroughs that make treatments more effective and affordable.”
Potential economic challenges can be better mitigated by companies and governments facilitating wellness and prioritizing health every day, before there is something to truly worry about.
