The private healthcare industry is enormous, notoriously challenging to navigate, and making a lot of money at the expense of the public. The industry enjoys massive profits, often by undermining public programs and exploiting patents, whose ruthless pursuit of money usually has life-threatening consequences. It maybe time to end for-profit healthcare.
Month: February 2023
(Fierce Pharma) A fresh slice of data from Standard Media Index suggests that might be the case, revealing spending on linear TV fell for the first time in years and that digital’s share of the media mix passed 50%. Here are the reasons for the decline.
Company culture has an enormous effect on productivity and, ultimately, shareholders. There is a direct correlation between company culture and the number of employees; the bigger the company, the worse the company culture. Preparing the company for the imminent changes coming to healthcare should be a top priority, but it’s not.
The FDA calls drug approval a “balancing act” between acceptable risks and benefits on its website. The FDA’s approval process may favor drug companies over consumers, and FDA approval does not guarantee safety. Big Pharma pays for the majority of drug safety reviews, provides the FDA with safety data for the review and has the option to have drugs approved faster with fewer clinical trials.
U.S. senators called for Medicare to offer broad coverage of Alzheimer’s treatments approved by the Food and Drug Administration, warning that current restrictions cost patients precious time as their disease progresses. They are asking the FDA to approve a drug based on hope, not science.
No industry refuses to bow to the prevailing headwinds of change more than big pharma. If you have a high level of empathy, there are better places to be. Yes, there are people alive today because of the drugs we develop, but too many people are also determining how they will manage when out-of-pocket copays delete their savings. We need change with the new blood of employees that care more about people than profits.
President Biden successfully got insulin costs capped at $35 per month for Medicare recipients. But corporate sellout Democrats in the House and Kirsten Sinema in the Senate — along with every Republican — blocked his efforts to extend that to all Americans with diabetes. This is what happens when big pharma has no conscious.
Does anyone at a big pharma company come into work thinking about ways to help people navigate complicated healthcare decision-making? They have lost track of who we serve and, more importantly, why.