Information regarding the ‘Phase of Illness’ within specialized home-based palliative care remains unavailable in Switzerland. This study aimed to examine how oncological patients and their informal caregivers experience burden, needs, and associated resource utilization across each specific ‘Phase of Illness’ to establish a comprehensive profile of every phase’s unique attributes. A convergent parallel mixed-methods approach was utilized. For the quantitative component (comprising 91 adult oncology patients and 54 informal caregivers), data were gathered on clinical/sociodemographic profiles, phase-associated symptomatology, burden, needs, and resource utilization. For the qualitative component, semi-structured interviews were conducted with 8 patients and 12 informal caregivers, and focus groups were held with 20 nursing professionals. Data synthesis and analysis involved factorial ANOVA, repeated-measures ANOVA, qualitative content analysis, and joint display integration. The investigation identified distinctive central concepts and targeted action priorities for every individual ‘Phase of Illness’: “ambivalence” paired to “keep it under control” (stable), “anxiety and uncertainty” directed toward “de-escalation” (unstable), “the tangible end of life” oriented around “enduring” (deteriorating), “clarity” focused on “focusing on essentials” (terminal), and “finality” aimed at “finding a conclusion” (bereavement). The outcomes underscore the profound vulnerability and multi-faceted nature of the challenges and requirements faced by cancer patients and their relatives across all stages of specialized home-based palliative care. Care frameworks and reimbursement models within specialized home palliative care must be secured to adequately support the psychosocial vulnerabilities of patients and families, particularly during the stable and bereavement stages.