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  • Home > Blog > For Your Family > Bristol-Myers Squibb Makes Donation to Provide Financial Relief to Mesothelioma and Other Cancer Patients
Posted on Monday, Jan 23, 2012

Bristol-Myers Squibb Makes Donation to Provide Financial Relief to Mesothelioma and Other Cancer Patients

Treatment for mesothelioma can be overwhelming, requiring surgery, chemotherapy and radiation to manage the symptoms.  Managing the associated health care costs for mesothelioma can also be overwhelming for mesothelioma patients and their families.  Now, Bristol-Myers Squibb is hoping to ease the financial burden for many cancer patients.  

The company announced last week that they have donated nearly $7 million to support the HealthWell Foundation that offers financial assistance for cancer patients.   According to the press release, the money will go towards co-pay assistance funds to help underinsured cancer patients with their out-of-pocket medical expenses that are not covered by their insurance plans. 

Healthwell is “committed to addressing the needs of individuals with insurance who cannot afford their copayments, coinsurance, and premiums for important medical treatments.”  In 2010, Healthwell provided nearly $144 million in financial assistance to over 54,000 patients. 

The New York Times reports a study from Duke University Medical Center and Dana-Farber Cancer Institute found that the average out-of-pocket, cancer-related costs for the patients surveyed averaged $712 a month.  30% of the patients reported that their expenses were a “significant burden” and 11% called them a “catastrophic problem.” 

In fact, according to a study conducted by Harvard Medical School, medical bills are responsible for close to 60 per cent of personal bankruptcies in the Unites States – with 75 percent of those individuals having health insurance.  

“Bristol-Myers Squibb has robust patient assistance programs for cancer patients and this contribution reinforces our commitment to helping patients gain access to the medicines they need,” said John Tsai, vice president, U.S. Medical, Bristol-Myers Squibb. 

The Bristol-Myers Squibb Patient Assistance Foundation Inc. is a nonprofit organization that helps qualifying patients with prescription drug coverage.  Bristol-Myers is the maker of Platinol, generically known as cisplatin, one of the primary chemotherapy drugs used in the treatment of malignant mesothelioma. 

Mesothelioma is a rare, aggressive form of cancer primarily caused by exposure to airborne asbestos fibers. Close to 3,000 Americans are diagnosed with the cancer yearly. There is no known cure for the disease.