Education and the Costs Associated with Death

Cancer has a financial impact worldwide. According to a study published by the American Cancer Society, “cancer accounts for 1.5% of global gross domestic product loss per year” (John & Ross, 2010). The legal and economic costs of death are not something normally addressed with patients prior to the occurrence of death. With an integrative approach, education may help reduce financial stressors for both the patient and family, while offering cost saving benefits to the facilities involved. Studies have shown that education pertaining to advanced care planning help to reduce hospital visits and the costs associated with the last six months of life. Integrating additional education in the form of legal and financial planning prior to death will benefit patients. This may benefit hospitals concurrently, by reducing hospital visits or length of stays, saving millions in Medicare costs to the hospital. Hospitals currently focus on the emotional, spiritual and intellectual needs of the patient post diagnosis of a terminal illness. Education related to funeral planning, preparing a will, and financial preparedness need to be included in the structured patient education offered at facilities. Individuals that have a higher socioeconomic status are typically more prepared for the costs associated with death. Offering financial education will allow more individuals experiencing the terminal diagnosis to prepare for their impending death.