Whitepaper: The Importance of Clinical Trials in Cancer Care
Whitepaper: The Importance of Clinical Trials in Cancer Care
In this whitepaper, PHM highlights the critical role of clinical trials in advancing cancer treatment, improving patient outcomes, and lowering costs for employers.
With this download, you will also receive access to the previous PHM Health Intelligence Whitepapers on Cancer: "Managing Cancer Care in Your Workplace" and "Why Every Employer Needs a Molecular Profiling Strategy."
This whitepaper builds on our longstanding commitment to innovation in healthcare and our collaboration with leading physicians to provide patients with the best of what's possible in medicine.
- Patient Access: PHM patients with cancer are nearly four times more likely to join a clinical trial than the general population, resulting in better access to leading edge treatment.
- Medical and Pharmacy Cost: For employers, clinical trials can help ease the financial burden by enabling access to treatments that are generally covered by the trial sponsor.
- Healthcare Equity: The report highlights existing inequities in clinical trial enrollment and advocates for breaking down barriers to ensure all patients, regardless of their background or geography, can benefit from the latest advances in cancer care.
Employers who integrate clinical trial strategies into health plans can save costs and provide employees with cutting-edge treatments, enhancing outcomes and advancing cancer care.
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Based on our analysis of mid-market employer data from Springbuk, the average annual plan paid per claimant for a specialty cancer drug was $65,000 in 2021–2022. As a result, opportunities to mitigate these costs, such as leveraging clinical trials, should be considered.
Tommy Axford, FSA, MAAA
Senior Vice President
Business Development & Strategic Partnerships
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About PHM
Private Health Management (PHM) is a clinically sophisticated complex care management company specializing in assisting individuals in obtaining the best care and outcomes when facing serious and complex medical conditions. We help improve outcomes and optimize costs for individuals and employers by delivering science-backed information and supporting members from diagnosis through treatment.