Dr. Veena Shankaran has been appointed the inaugural holder of the Lert Family Endowed Chair at the Fred Hutch Cancer Center, focusing on the financial challenges faced by cancer patients.
Dr. Veena Shankaran, a prominent medical oncologist and healthcare economics researcher of Indian descent, has been named the inaugural holder of the newly established Lert Family Endowed Chair at the Fred Hutch Cancer Center in Seattle.
This appointment, part of the University of Washington Medicine’s cancer program, recognizes Shankaran’s extensive research into the financial hardships, often referred to as “financial toxicity,” that cancer treatments impose on patients and their families.
The endowed chair was created by Randy Lert, an esophageal cancer patient who received treatment under Shankaran’s care, and his wife, Joyce. Grateful for the honest and high-quality care they received, the Lerts established this chair to fund solutions for patients who encounter significant economic barriers when navigating a cancer diagnosis.
Shankaran’s academic credentials include a Bachelor of Arts in Philosophy from Dartmouth College and a Medical Degree from the University of Michigan Medical School. She completed her residency in internal medicine at the University of Michigan and pursued a fellowship in hematology-oncology at Northwestern University. Currently, she serves as a professor at both Fred Hutch and the University of Washington School of Medicine.
As co-director of the Hutchinson Institute for Cancer Outcomes Research (HICOR), Shankaran was inspired to delve into health economics early in her career. Her focus shifted toward addressing structural inequities after encountering a patient who was secretly rationing his prescribed medication due to its cost, which adversely affected his treatment outcomes.
At HICOR, Shankaran and her research team integrate cancer registry data with healthcare claims and financial records to analyze how economic pressures influence patient survival and quality of life. Her work examines systemic issues, including medical debt, food insecurity, transportation challenges, and childcare needs.
Recently, her team investigated whether credit report data could assist healthcare providers in identifying financially distressed patients earlier than traditional surveys allow.
In addition, she leads a significant multi-site study through the SWOG Cancer Research Network, which found that nearly three-quarters of colon cancer patients experience severe financial distress during their treatment.
The flexible funding provided by the Lert Family Endowed Chair will enable Shankaran’s team to explore innovative, higher-risk ideas, pilot localized interventions, and expedite the process from concept to actionable results. It will also support the mentorship and training of future clinicians and health services researchers.
“Dr. Shankaran has been a leading force at Fred Hutch and nationally for decades,” said Fred Hutch President and Director Dr. Thomas J. Lynch Jr. He emphasized that her commitment to the economics of medicine ensures that scientific breakthroughs effectively translate into real-world benefits for patients.
For the Lert family, this gift represents an investment in systemic transformation. Randy Lert expressed that while he had the personal financial security to manage his illness, he hopes these funds will enhance healthcare delivery, allowing future patients facing similar diagnoses to achieve better outcomes.
According to The American Bazaar, Dr. Shankaran’s work is poised to make a significant impact on the lives of cancer patients grappling with financial challenges.