Background. Treatment of multiple myeloma has dramatically improved with the introduction of bortezomib (BOR), thalidomide (THAL), and lenalidomide (LEN). Studies assessing health care costs, particularly economic burden on patients, are limited. We conducted a claims-based, retrospective analysis of total health care costs as well as patient burden (patient out-of-pocket costs and number of ambulatory/hospital visits) associated with BOR/THAL/LEN treatment versus other therapies (OTHER). Conclusions. Adjusted analyses of real-world claims data show that total health care costs, as well as patient out-of-pocket costs, are higher with THAL/LEN treatment episodes than with BOR/OTHER therapies. Additionally, similar rates of ambulatory visits suggest that any perceived advantage in patient convenience of the orally administered drugs THAL/LEN is not supported by these data. The Oncologist 2013;18:37-45 Implications for Practice: In addition to efficacy and safety considerations, economic factors associated with novel treatments are important issues for payers and patients. Claims data provide real-world insight into health care costs associated with treatment for multiple myeloma. In this study, total health care costs and patient out-of-pocket costs were measured during one year post-initiation and analyzed per treatment episode. Adjusted for patient characteristics, comorbidities, and line of treatment, the costs of "other" therapies (i.e., other chemotherapy or radiotherapy) and bortezomib were similar, but the costs of thalidomide or lenalidomide treatment were significantly higher. Despite different routes of administration for bortezomib (intravenous), and thalidomide and lenalidomide (oral), the number of ambulatory visits (i.e., clinic/physician office and hospital outpatient visits) appeared similar across therapies with the only significant difference being between the rates for lenalidomide and "other" treatment. These data show differential real-world costs and patient burden associated with these treatments and may support decision-making with regard to multiple myeloma treatment.