Breast Cancer Q&A - The Financial Impact of Breast Cancer

The Financial Impact of Breast Cancer

When someone is diagnosed with breast cancer, the challenges often go far beyond the medical or physical. We recently hosted a Q&A with a panel of experts in breast cancer research and treatment, economics, support services and people with a lived experience of the disease, to explore the financial impact of breast cancer.

Moderated by Author and Journalist, Annabel Crabb, this event examined the financial realities faced by people diagnosed with breast cancer, drawing on the latest in research and real-life experiences.

Research by Monash University shows the economic impact of breast cancer in Australia is enormous. Working-age Australian women diagnosed with breast cancer collectively lose an average of 1.5 years of full-time work each, costing billions in wages and gross domestic product (GDP).

The study found that around 10,700 working-age Australians (mostly women) were diagnosed in 2022 — with the cohort expected to lose a collective 16,400 productivity-adjusted life years (PALYs) over the following decade. That loss corresponds to roughly AU$1.4 billion in wage earnings and AU$3.26 billion in GDP over ten years — a sobering illustration that the cost of cancer extends far beyond hospital bills.

But these statistics only hint at the human realities behind them. For many, the disruption to work means more than lost income — it erodes identity, purpose and stability.

What we covered:

The direct, indirect and hidden costs of breast cancer.

The impact of breast cancer on career, reduced retirement savings, changes to family financial security, and strain on mental health.

The impact on the individual as well as households, workplaces and the broader economy.

What can be done: support services, policy changes, workplace strategies, financial counselling and how clinical trials are adapting to the needs of patients and their families.

Breast cancer survival has improved over the years, with increasing treatment options. While we are lucky to have many of those options available through universal healthcare, patients with breast cancer still face out of pocket expenses whether in the public or private health care system. Beyond those direct costs, are other financial impacts may be experienced due to loss of income, lost productivity, and reduced ability which can last for years after diagnosis.

Breast Cancer Trials is conducting research that aims to reduce costs in selected trials by safely reducing treatment intensity and minimising treatment-related side effects.

Whether you’re someone personally affected by breast cancer, a caregiver, health professional, employer, policy-maker — or simply interested in understanding how disease can impact finances, family and community — this panel offers important insight and real-world discussion.

This conversation isn’t just about numbers. It’s about real lives and real challenges — and the steps we can take together to reduce the financial burden of breast cancer.

Helpful Resources

Cancer Council provides financial information and support to help patients, carers and families navigate cancer-related financial issues.

While services vary by state, this can include Financial Counselling Services, providing information, guidance and advocacy to help people manage debts and everyday expenses, as well as Financial Planning Referral Services, connecting eligible patients and carers with volunteer financial advisers for advice including accessing superannuation and insurances, eligibility for Centrelink, asset and debt management.

Cancer Council also has an extensive range of financial resources and information available. To access this financial information or support, call 13 11 20 or visit your local Cancer Council website.