WHAT IS THE COST ON SOCIETY WHEN DEALING WITH CANCER?

You don't have to look far to see stories on cancer causes, research and treatment these days and the costs that go along with these issues. The effects are staggering and exceed most nation GDP. Early diagnosis is the key to survival and the economical benefit will surprise you.

I don't think we will see a new headline on "New Cancer Cure" this year or maybe not even in my lifetime but this should push us to focus on what we can do today to make a difference. By supporting cancer research we continue the steps to faster diagnosis and treatment and extending the life expectancy of those diagnosed. Verisante Technology is about to bring forward a new product in early skin cancer detection. The scanning device has an incredible accuracy rate for catching skin cancer early as well as a strong elimination rate for false positive results which can be a burden on our already stretched health care system in this country.

Since Health Canada’s requirements for medical devices are in alignment with those of Australia and Europe, the company could hit all three markets shortly.

Verisante is a medical device company committed to commercializing innovative systems for the early detection of cancer. The Verisante Aura(TM) for skin cancer detection and the Verisante Core(TM) series for lung, colon and cervical cancer detection utilize a proprietary cancer detection platform while the operating software and probe technology are unique to each device. The cancer detection platform was developed by the BC Cancer Agency and tested and refined on approximately 1,000 lesions at the Skin Care Centre at Vancouver General Hospital. This exclusive platform technology allows Verisante to develop and offer a range of compact, non-invasive cancer detection devices that offer physicians immediate results for many of the most common cancers. The Company is ISO 13485:2003 certified as a medical device manufacturer. While the Aura and Core have not yet been approved for sale, the Company anticipates Health Canada, European and Australian approval for the Aura(TM) in 2011.

Verisante will be featured in a special segment titled Skin Deep in the NHS, which will air in the fall on Sky TV Channel 166, BBC and ITV. NHS stands for National Health Service in the U.K. The Verisante Aura(TM) for skin cancer detection will be discussed as the next generation in skin imaging technology.
The episode will be sent to all NHS general practitioners, consultant dermatologists and dermatology nurses. The Company's segment will also be posted on Verisante's website as soon as it is available.

Economic Impact of Cancer

The financial costs of cancer are high for both the person with cancer and for society as a whole.
The National Institutes of Health estimated the 2010 overall annual costs of cancer were as follows:

Total cost: $263.8 billion Direct medical costs (total of all health expenditures): $102.8 billion Indirect morbidity costs (cost of lost productivity due to illness): $20.9 billion Indirect mortality costs (cost of lost productivity due to premature death): $140.1 billion

One of the major costs of cancer is cancer treatment. But lack of health insurance and other barriers to health care prevent many Americans from even getting good, basic health care.
According to the US Census Bureau, almost 51 million people were uninsured in 2009:

• About 28% of Americans ages 18 to 34 had no health insurance for at least part of the past year.
• About 10% of children in the United States had no health insurance coverage.

And according to Cancer Facts & Figures 2011, “Uninsured patients and those from ethnic minorities are much more likely to be diagnosed with cancer at a later stage, when treatment can be more extensive and more costly.” In fact, this leads not only to higher medical costs, but also poorer outcomes and higher cancer death rates.
This year, about 571,950 Americans are expected to die of cancer – that’s more than 1,600 people a day. Cancer is the second most common cause of death in the United States, exceeded only by heart disease. Cancer accounts for nearly 1 out of every 4 deaths in the United States.
American Cancer Society Stats