Development of the Oncology Opportunity Cost Assessment Tool

This study develops and tests an instrument to measure opportunity costs called the Oncology Opportunity Cost Assessment Tool (OOCAT) in cancer patients. Patients experience significant costs, both direct financial as well as indirect costs, associated with seeking cancer treatment. While the direct financial impact of care on patients is receiving increased attention, other important consequences, such as opportunity cost, remain largely unmeasured. Opportunity cost is an economics term that refers to the loss of potential benefits from other options when one option is chosen - if resources are used for one purpose, they are no longer available for the next best option. The information and knowledge gained from this study may help researchers develop the OOCAT, which may allow them to understand the opportunity cost of treatment for each patient. The OOCAT may then be used to determine not just the best medications for patients, but also the best comprehensive treatment plan that will allow them to get the right treatment in the right place at the right time.