With the new frontier of digital health comes danger

KEY TAKEAWAY: Theranos, led by CEO and founder Elizabeth Holmes, raised more than $700 million on the promise of a revolutionary blood-testing technology that never materialized. The Securities and Exchange Commission just charged Holmes with “massive fraud.”  Yet shouldn’t the investors have done their “due diligence” before investing money into a promise that was too good to be true? Continue reading

Sorry Mr Pitts, you’re wrong

KEY TAKEAWAY: Peter Pitts, in an Op-Ed entitled “To cut drug prices, start with the facts” wrote “many lawmakers believe that prescription drug prices are skyrocketing. They’re not. In fact, after accounting for all the rebates and discounts manufacturers offer, drug prices have barely budged in recent years. Drug spending grew just 1.3 percent in 2016, according to the latest federal data from the Centers for Medicare & Medicaid Services. Overall health spending increased by 4.3 percent.  Sorry, but in these statistics are some very disturbing trends, Continue reading

Greed is alive and well in our health care system

KEY TAKEAWAY: Money can make corporations, and people, do questionable things.  While we continue to hear words like patient engagement too many pharma and medical device companies are still chasing dollars rather than launching initiatives that actually help people navigate our complex health care system. Continue reading

Why pharma is sales driven

KEY TAKEAWAY: Harvard Business Review found that sales performance is highly correlated with promotion to management. For salespeople, each higher sales rank corresponds to about a 15% higher probability of being promoted to sales management. But, sales performance is actually negatively correlated with performance as a sales manager: when a salesperson is promoted, each higher sales rank is correlated with a 7.5% decline in the performance of each of the manager’s subordinates following the promotion. We found similar results regardless of whether salespeople were promoted to their own team or to new teams. In other words, firms tend to promote top sales workers into management, even though they become the worst managers. Continue reading

The truth isn’t the truth until people believe you

KEY TAKEAWAY: Only 9% of U.S. consumers believe pharma and biotechnology companies put patients over profits.   Just 28 percent of Americans have a positive view of drug makers, while 19 percent reported feeling neutral and 51 percent have a negative view.  Do pharma CEO’s even care? Continue reading

Value-Based Care?

KEY TAKEAWAY: “The U.S. spent nearly $3.4 trillion on healthcare in 2016, yet we achieve worse results and a lower life expectancy than most other developed countries. The challenge lies in converting investment into better results for individual health care consumers, rather than looking at people as statistics.” This is from a report by Aetna but one has to wonder if they’re reading their own materials? Continue reading