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Cutting Cancer's Cost
By CNBC's Bertha Coombs
(CNBC) A new study suggests that some seemingly "modest" tweaks to the way an oncology practice operates could help realize millions of dollars of savings.
The study released Tuesday indicated that reducing the use of imaging services, getting patients discharged quicker and checking up on those people sooner could result in dramatic savings even as spending on chemotherapy drugs increased significantly at the same time.
The study of five oncology practices found that treatments for 810 patients that were projected to cost a total of more than $98 million actually ended up costing less than $65 million--a 34 percent reduction, according to an article published in the Journal of Oncology Practice.