Multiple myeloma causes significant skeletal morbidity (e.g., pain and pathologic fractures) resulting from osteolytic lesions, and the associated medical costs can be considerable. Therefore, the authors of this review conducted a retrospective cost analysis to quantify the medical costs associated with skeletal complications in patients treated for multiple myeloma in The Netherlands. In total, 20 patient records were investigated, and costs are given in euros. This analysis demonstrated that skeletal complications related to multiple myeloma contribute significantly to the cost of care, comprising approximately 17% of the total cost of treatment. This study provides a model for further investigation of the health-economic impact of skeletal complications in patients with malignant bone disease.