Cost of Quality of Life

An interesting report by AP on the prices of new cancer treatments, and the challenges they pose to society. Hard questions that need to be faced include estimating the marginal value of life of a patient.

Denying the treatment to a person who lacks appropriate financial/insurance backing and seeing that person lose his/her life can be regarded as unethical. However, some of the groups that proclaim to "value" values do not consider this a values issue, and are trying to derail and kill the health care reforms initiated by President Obama.

$93,000 cancer drug: How much is a life worth? - Yahoo! Finance: "Cancer patients, brace yourselves. Many new drug treatments cost nearly $100,000 a year, sparking fresh debate about how much a few months more of life is worth.

The latest is Provenge, a first-of-a-kind therapy approved in April. It costs $93,000 a year and adds four months' survival, on average, for men with incurable prostate tumors. Bob Svensson is honest about why he got it: insurance paid.

'I would not spend that money,' because the benefit doesn't seem worth it, says Svensson, 80, a former corporate finance officer from Bedford, Mass."