Medical device the rule of thumb seems to be luck over science

KEY IDEA:  Seventy million Americans have a medical device implanted within their body. “When it comes to medical devices, we built a system that doesn’t work,” David Kessler, the former FDA commissioner, said in The Bleeding Edge.  The disturbing truth is that, despite so many people relying on such implants, the medical device industry is very weakly regulated. 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

Healthcare: the availability of unlimited profits is a powerful motivating force

KEY TAKEAWAY: Healthcare is now the single biggest sector of the US economy. It is bigger than big oil, bigger than big banking, and bigger even than the famous military-industrial complex that President Dwight Eisenhower warned about in his farewell speech. In 2013, the most generous estimate pegged the price of the military-industrial complex at $ 1.3 trillion, while healthcare expenditures in 2015 were $ 3.2 trillion, consuming nearly one of every five dollars spent in the US. 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