AI is coming to health care. Are you ready?

KEY TAKEAWAY: Consumer Intelligence Research Partners (CIRP) released data  showing that 20 million Amazon Echo and 7 million Google Home smart speakers have been purchased by U.S. Consumers in the third quarter of 2017.  These figures are significant. Other estimates suggest about 8.5 to 11 million devices will be sold in the U.S. in Q4 2017. That means total smart speakers sold and in use will approach 40 million in the U.S. That will represent over 20 million U.S. households and consumer reach exceeding 50 million people . The global smart speaker install base will significantly exceed 40 million units at the close of 2017.  There are significant opportunities for health care, but does pharma have innovators who can leverage this technology? Continue reading

Maybe their voices would change from one in which profits rule to one in which we all say “this has to change”

KEY THOUGHT:  I love working in the pharma and healthcare business.  I don’t know any industry where your efforts can help so many people live better and longer lives.  Although I have been critical of the industry as of late, but it’s only because I want to try and inspire people working within the industry to be the change it so much needs.  Talented people can’t continue the exodus from this industry at the current rate. We need employees, and consultants, who are willing to disrupt the status quo. Continue reading

Healthcare is strictly about profits

KEY TAKEAWAY: Since 1980 and the Bayh-Dole Act, drug companies can feed off research funded by the National Institutes of Health, which they acquire at late stages of development. As pointed out by former New England Journal of Medicine editor Dr. Marcia Angell, the big companies can either license the drugs or buy out small biotech companies carrying out NIH-funded research. In short, much of the research going into these products is funded by taxpayers, not pharmaceutical revenues. Profits above taxpayers. Continue reading

There is no evidence of an association between research and development costs and prices of prescription drugs

From JAMA: “Although prices are often justified by the high cost of drug development, there is no evidence of an association between research and development costs and prices ; rather, prescription drugs are priced in the United States primarily on the basis of what the market will bear”. And I guess most pharma executives believe the market can bear a lot more. Continue reading