Search results matching tags 'Economy', 'Technology', and 'Medically Related'

Study From Price Waterhouse States the U.S. Medical-Technology Business Is Losing It’s Edge-Time to Think About Priorities

Anonymous — Wed, 19 Jan 2011 06:33:00 GMT

In doing this blog and researching and reading about what’s happening here and what goes on globally I guess I’m kind of close to it as well as the journalists who bring the article to press that I blog about. We see jobs and technology going over seas with one business after another. That’s part of our job problem here in the US with outsourcing to “cheaper” sources. This has been going on for many years and as long as the US had the innovation and creators here, we sat somewhat comfortable but that is not the current situation any longer as developing countries are developing their own technologies and are not dependent on the US to provide the specifications to build devices and create drugs.

The report states that the US will see erosion in all of these areas. The FDA is also mentioned in the report as well as western Europe with their regulatory process. Companies are finding approval easier at times in countries such as China, India and Brazil. China currently represents the second largest venture capital pool in the world with Brazil being 3rd and for right now the US still holds the number one spot. If you happened to catch any of the news about the JP Morgan Healthcare convention last week, China “was hot” according to articles in the news for investments.

On the other hand, other countries have a tendency to trust products and devices cleared by the US FDA though. Sometimes too we get distracted and go off in some very disrupted directions, such as the value of Facebook algorithms, which is ok and we can live with or without Facebook but we can’t live without drugs, new surgical techniques and medical devices, the tangibles. When I look at all the money in the news about an IPO on their algorithms being orchestrated by Goldman Sachs, I shake my head at times and wonder when folks will come back online to realize “what is really important” today and look at Goldman as pursuing a “supply and demand media frenzy’ to create a somewhat disruptive and deceptive market here.

Facebook Privacy Breach - Applications Transmitting Personal Identifying Information

Think about this and what has been in the news and tell me that Facebook and their value is really that important compared to other items that need to be addressed! Can you as an individual take or leave Facebook? Just something to ponder and hopefully think about priorities.

Goldman Limits Facebook Investments To International Clients–No US Clients Will Have the Opportunity to Invest in the Algorithms

One thing to keep in mind is the fact that banks are there to many money, whether they invest here or elsewhere, they will follow the dollars and thus we have 2 different economies working and the 2 don’t seem to get along and nobody wants to take responsibility or work on changing methodologies to bring the 2 together again. If you want to take a look at the partner philosophy of Goldman Sachs, click on the image below and to go the report on the New York Times to view and see how bonuses and compensation are going to be around 17 billion for the year 2010. You never know who’s a partner and who’s not a partner, makes things tough for the SEC to audit, let alone invest in technology that can do so.

“It is a technological arms race in financial markets and the regulators are a bit caught unaware of how quickly the technology has evolved”

We have technologies running so advanced and so fast that the government doesn’t even have a way to keep track and audit and those methodologies are coming to healthcare too, just look at all the private equity investments over the last few months and think about where you might be directing your attention as you waste the time of day away playing games on Facebook or some other site.

High Frequency Electronic Trading Methodologies And Algorithms Work Their Way Into Healthcare With Human Bodies Losing Liquidity With the “Data Game”

All this combined is unfortunately setting the stage for some pretty ugly outcomes in the US economy and lawmakers as well as us should be in touch and come out of the 70s mentality.

The innovative edge that brought the U.S. medical technology industry to global dominance may be slipping, according to a study that consulting firm PwC is releasing.

In the next decade, the report predicts that China, India and Brazil will experience the strongest gains in developing next-generation lifesaving products, as capital, jobs and research gravitate toward these growing markets.

"The key finding is that the U.S. is declining when compared with other countries across the globe," said Tracy Lefteroff, a Global Managing Partner of PwC's venture capital practice. "And we're in real jeopardy of losing our lead."

Study: U.S. med-tech industry losing edge - East Valley Tribune - Arizona Local News: Business

Technorati Tags: Price Waterhouse,study,innovation,healthcare,technology,FDA,ventur capital,China,India,JP Morgan,investments,economy,jobs

Does Myriad Own Breast Cancer Genes And What is the Future of Patents as Relates to Healthcare – 60 Minutes

Anonymous — Mon, 05 Apr 2010 22:21:00 GMT

Back when this patent was given it was done to protect the research and development areas to recoup their investments, but today as things are changing rapidly, not only in genomics, but in medical devices and with drugs too, the long standing patent protections are coming under fire. If you read here often enough there’s a lot of posts about patent wars. One example is Johnson and Jonson with Boston Scientific with “stent wars” and the millions spent on this, not to mention the billions awarded with violations. Does the average patient care – no. A patient just wants to be able to afford the care, device and medication.

Myriad's BRCA (DNA Breast Cancer) Patent Ruled Invalid Today – US Patent and Trademark Office Also Off the Hook

This could open the door for other companies to enter the market. Up until this decision, Myriad was the only company worldwide that could perform the DNA genetic analysis test and the cost was around $3000.00. Additional pressure was given by the insurance industry for patients to have the test as well. By one company not having a monopoly, this can open the door for additional break throughs and further the treatment of both breast and ovarian cancer by having the information to build upon.

In the case of Myriad, technology and advancements have changed so rapidly that the patent is now prohibiting the advancement of new research and potential cures and targets. The test is around $3000.00 and insurance companies are now balking too about paying. In the video you hear about how in Europe some are ignoring the patent and women are getting tested for around $300.00 instead.

What do I keep saying is that we have a new left curve every day with technology, here’s a good example that financials are also being disrupted in structure as well, so what do we do, keep the patent and sit and wait on progress? I don’t think we are a world today that’s going to take that for an answer. One pharma company that is in court challenging and winning a lot of patent cases is Teva. They have done a pretty good job with some of them and let’s face it, patents may not be all but gone, but the length of time is certainly non sustainable with today’s fast evolving world of technology and Health IT with an unstable economy. BD

Related Reading:

Myriad Unveils Prolaris Genetic Test To Predict Prostate Cancer Recurrence

Myriad's BRACAnalysis Tests Scrutinized by Insurance Carriers – Many Do Not Qualify and Myriad Marketing Questioned

Patented Genes - 60 Minutes - CBS News

Technorati Tags: Myriad, breast cancer, healthcare, 60 Minutes, genes, genomics, patents, BRACanalysis, economy, legal cases, blood test

Amish and Other Religious Groups Exempt from Health Insurance Provisions in Both House and Senate Bills

Anonymous — Thu, 14 Jan 2010 08:07:00 GMT

As healthcare reform moves on, will religion become an issue? There are a few groups in Massachusetts that are exempt. This is one more reason why penalties won’t work. We also have provisions for the IRS to potentially police the health insurance area through tax returns.

As the article states the exemptions call on some very specific language and groups have to be non-profit as well. The Amish and Mennonite groups are small by comparison to the population of the entire country but it will be interesting to see now with the way the economy is, to see if these exceptions fly without voices from others wanting the same, you know, kind of like what Nebraska received. As our Governor said in California, they got the corn and we got the husk.

Opting Out – Mennonites and Amish Face rising hospital bills

Now they have genetics research going on within the communities to help save their children who have high rates of some rare genetic diseases. It is far fetched to even think the communities would travel abroad for help. Dr. Morton has moved in to the community to help.

THEY HAVE GENE SEQUENCING MACHINES – so the citizens are contributing to research and development with the study of some genetic diseases and family history items that seem to occur only in their communities. BD

Right now with the focus on transparency, it’s not easy to roll anything under the carpet and hope it won’t be noticed anymore. Technology and data methodologies of communication make certain that doesn’t happen any more as well as uncovering more of this that has already occurred in the past. BD

Since the 1930’s, the Amish have been exempt from paying Social Security taxes. The Watertown Daily Times, which is from a region of northern New York that many Amish families call home, notes that under Congress’s health care bills, the Amish would also get an exemption from the mandate to have “acceptable” health insurance or pay a tax penalty if you don’t.

Federal health care reform will require most Northern New Yorkers — but not all, it turns out — to carry health insurance or risk a fine.
Hundreds of Amish families in the region are likely to be free from that requirement.
The Amish, as well as some other religious sects, are covered by a “religious conscience” exemption, which allows people with religious objections to insurance to opt out of the mandate. It is in both the House and Senate versions of the bill, making its appearance in the final version routine unless there are last-minute objections.

The language is very limiting. Christian Scientists, for example, would not be eligible for the exemption because they are not conscientiously opposed to having health insurance. “Some [Christian Scientists] have health insurance, and most probably have life insurance,” says the FAQ page of the official CS church website. “Every Christian Scientist makes his or her own financial and health decisions.” It’s limited essentially to the Amish and Old Order Mennonites

Amish and Other Religious Groups Exempted from the Individual Mandate - Blog - OpenCongress

Technorati Tags: healthcare refrom, politics, Amish, Mennonites, technology, transparency, economy, exemptions

Companies Making Big Dollars Without People – Healthcare Can’t Do That As We are the Product

Anonymous — Sat, 31 Oct 2009 21:29:00 GMT

This was in the LA Times and makes some very good points about economic times. How are the companies making big dollars and yet unemployment is not getting any better? Businesses today with technology are finding ways to increase profits without the rank and file workers, even companies who are doing well are continuing to lay off as technology moves in and takes over functions that people used to do. We have talked about this for years but today it’s a reality.

Healthcare is at an unfair advantage here, and yes there’s a lot of room for improvement, we are still the product being given care, we are marketed, and so on. Certainly we are seeing some big changes with data systems, medical devices, etc. all heading in that direction, but it can’t move as fast as what other industries are doing as again it is all about us. There’s a robotic scientist out there now creating it’s own drugs in the news lately, so even in areas where you think this is not possible, well, think again. Healthcare too is following the trending of business with replacing humans with technology, but being we are the product, it is still the “human” business and there’s only so far you can go at a time and we are seeing major paradigms being changed every day. How do we incorporate technology into healthcare without being overly disruptive? That in my opinion is a million dollar question.

Maybe The Real Problem With The Economy Is That It Doesn't Need Us

Healthcare companies want to stay in business and make money of course, but how can they compete with other industries who can slim down quickly and that are not as dependent on research and development, that touts break throughs almost every day it seems? The jobs that have moved overseas due to cost are not coming back here, unless we can compete with the same payment structures, and in most cases, we can’t.

I report quite a bit here on medical devices, and recently quite a bit about those that create data, data that can be used in health records for better care and this is one big mixed bag on it’s own. There are very few laws out there that add much protection when it comes to privacy too as how do you regulate new technology that is bursting at the seems. How does a hospital budget for this? Nobody has come along and figured this out yet.

How are we all going to live with some of these devices that used to be a human talking to us? How is the data going to be used for better healthcare and how it is going to be potentially used against me? We have to not deny that side exists as well with all the emphasis on cutting costs. We read about it all the time in the news with algorithms and scoring procedures denying claims.

“Department of Algorithms – Do We Need One of These to Regulate Upcoming Laws?

We also have members of Congress out of touch with where technology is headed as in this post below, with asking Health IT companies for information that is ambiguous, read a little and some of the paper it was probably written upon could have been saved and I slated that using some social networks would have put the Congressman right in touch so much faster than the process of asking for some of the information he inquired about, and perhaps he may have asked for different information if read up enough.

Chuck Grassley’s Questions for Health IT – He Should Use Social Networks As Most of His Answers Can Be Found There

The bottom line is that corporations don’t need as many human resources as they used to and this happens quickly sometimes too, so where do all the displaced people go, Wall Street isn’t giving us any answers either. The disparity on the economy linking back to the way it once did with investors is pretty much gone.

This just really makes more of a case as to why healthcare should not be money driven, it just can’t catch up with the rest of the world and probably will always be a step behind, and much of this brought about by necessary regulations and conditions that NEED to be there for our protection as well. Now add in the “daily breakthrough” for the day and the job gets just a little bit tougher. BD

Times still are hard out there for workers, but corporate America overall has been managing remarkably well -- as reflected in share prices.
Many companies, for example, have benefited from investors' robust appetite for bonds this year as credit markets have loosened. As long-term interest rates have dived, investors have rushed to lock in yields on fixed-income securities.

Westlake Village-based Dole Food Co. was able to go public on Oct. 22, selling 35.7 million shares at $12.50 each. Its investors may be having buyer's remorse, with the stock at $11.74 on Friday. But that doesn't matter to Dole at the moment: The $446 million the firm raised allowed it to pay off a chunk of debt, boosting its credit rating.
Probably the most important element of support for stock prices since this spring has been corporate earnings reports. Though many companies still earned less than they did a year earlier, before the economy crumbled, results have handily beaten investors' expectations.

Jobless Americans, understandably, would prefer to see some of that cash spent on hiring. But we know from government data on employment that many companies either continue to shed workers or remain reluctant to add staff, even amid signs that the recession is over.
Allen Sinai, head of Decision Economics Inc. in New York, believes that corporate managers may be surprised at how well their companies are faring even after deep reductions in head count.
”They're making good money without people," Sinai said, in what may be only a modest overstatement.

For stocks, a correction may come, but probably not a calamity -- latimes.com

Technorati Tags: Economy,healthcare,technology,stock market,unemployment,medical devices reporting data,data,Health IT

The Economy is Having A Profound Effect on The Health of Women – Shriver Report

Anonymous — Wed, 21 Oct 2009 00:10:00 GMT

Yes, we are getting the bum’s rap all the way around, higher insurance premiums, possibly skipping prescriptions and depending on the occupation, more exposure to viruses and other ailments. We are caregivers, and we do get very tired.

Money management is the other part quoted in this article as women for some reason or another in a family situation get strapped with that too, not all of course, but many. I don’t know about you, but I sure feel some of this. In the insurance end of things just being female appears to be a “pre-existing” condition, by the time they crunch and run all the algorithms for risk management assessment, we can’t ever come out ahead of that game because even worse then men, we don’t scale (data talk). BD

Taking on a greater share of the earning duties, with little dropoff in home obligations, is having a pronounced effect on women’s health in the United States, according to a new national report produced by California first lady Maria Shriver and the Center for American Progress.

The health segment of the sprawling report (titled “Sick and Tired”) notes that “the competing demands of work and home often have greater adverse health effects on women than on men. Caregivers, the majority of whom are women, are almost twice as likely to report having chronic conditions such as heart disease, cancer, diabetes or arthritis.”

The Shriver Report also says:

Women who must buy health insurance on their own, outside a group plan, often are charged more and “cannot get the essential health benefits they need, including maternity and reproductive health coverage.”

Women are more likely than men to skip filling a prescription for themselves, because of the cost.

More women than men work in jobs like teacher and daycare provider, which exposes them to flu viruses more often.

Dr. Jane Martin, a Long Beach psychologist and the California state education director of the APA, offers another reason women are stressed out during hard economic times: money management.

“Women are often the members of the family who are in charge of the family budget,” she said. “It becomes their responsibility to figure out how to make less dollars stretch to cover what’s needed for the household. They may have to make decisions about what the family has to do without and may therefore bear the brunt of the disappointment or even anger of family members — especially children — who have to make lifestyle changes.”

http://healthyliving.freedomblogging.com/2009/10/20/more-work-puts-womens-health-at-risk-report-says/11553/

Technorati Tags: economy,women's health,women,work,stress,fatigue,health insurance,algorithms

Baylor Selects Illumina Infinium® High-Density DNA Analysis Products Genomics Studies and puts Hospital Construction on Hold

Anonymous — Thu, 26 Mar 2009 15:59:00 GMT

Research and development with genomics is continuing at the Baylor School of Medicine; however, the construction of the new hospital has been put on hold to find additional capital through philanthropy, federal funds and other sources. BD

SAN DIEGO--(BUSINESS WIRE)--Illumina, Inc. (NASDAQ:ILMN) today announced that researchers at Baylor College of Medicine’s Medical Genetics Laboratories will use Illumina’s Infinium® High-Density (HD) DNA Analysis products to study genomic imprinting and its role in developmental diseases such as Prader-Willi syndrome (PWS), Angelman syndrome (AS), and other disorders caused by uniparental disomy. Baylor College of Medicine is committed to improving human health by providing the most current technologies for the medical genetics community. Illumina is showcasing the latest Information on its High-Density DNA Analysis products for cytogenetic research at the American College of Medical Genetics (ACMG) meeting this week in Tampa, Florida.

Arthur Beaudet, M.D., Professor and Chair of the Department of Molecular and Human Genetics at Baylor College of Medicine studies the role of epigenetic and de novo mutations in human disease. “We evaluated a variety of whole-genome arrays before opting to work with Illumina’s DNA Analysis products. Results from early tests show that we can quickly generate high-quality data using Illumina’s SNP arrays, providing us with the information required to more rapidly and accurately identify causative aberrations in the genome.”

Baylor College of Medicine Selects Illumina Infinium® High-Density DNA Analysis Products for Molecular Cytogenetic Services

Technorati Tags: Baylor School of Medicine,hospitals,economy,Illumina,genomics,personalized medicine,R and D

Work on stuff that matters – Tim O’Reilly

Anonymous — Mon, 16 Mar 2009 01:11:00 GMT

The video is a view of philanthropy talking about how we are adjusting to a new way of thinking and where we are going, with technology being at the forefront and driving everything, including healthcare. I particularly like the portion about the gentleman who has his sites set on getting rid of the “Government Printing Office” and creating data in a more useable form, paperless, same thing we are trying to do in healthcare. He’s had the program going for 10 years of putting government information online and available for access.

He talks about passion, working together and when you can’t do your best any more, then stop, flame out and move on for a strategy. On a road trip, pay attention to the gas tank and look out for the bottom feeders taking advantage in today’s environment. BD

ETech 09 Keynote: Work on Stuff that Matters

When publisher, tech guru and part-time social entrepreneur Tim O’Reilly prescribes a new business model to heal the shattered global economy and its equally-bruised ecosystem, should tech execs listen up? Only if they want to be in business five years from now.

Work on something that matters to you more than money

Create more value than you capture.

Build a simple system and let it evolve

Be friendly to those who extend your reach.

Be friendly to those who extend your reach.

Be generous in supporting the work of others.

Tim O’Reilly prescription for the ailing economy: Work on stuff that matters » VentureBeat

Technorati Tags: Tim O'Reilly,Philanthropy,Healthcare,Economy,Business Models

Beth Israel Deaconess Medical Center Trimming Expenses - Boston

Anonymous — Fri, 06 Mar 2009 22:02:00 GMT

If you have kept up on the news of late, some of the hospitals in the Boston area were caught up in the Madoff scheme and lost funds, and Beth Israel is one that has been affected, but the issues go deeper. Paul Levy, the hospital CEO is known for his blog and for being very transparent about issues and this one is no different. I’m sure it’s a bridge he didn’t want to cross.

Bottom line is money, people are putting off surgeries in fear of losing their jobs, insurance compensation is down, and all the way around the numbers are not maintaining with the economic times we are facing today. BIDC is a teaching hospital for Harvard. You can also read more at his blog, Running a Hospital, where he talks with the blogging world and others and it is open for comments.

In addition, the local television station also has an online video interviewing Paul Levy and well worth watching, as these issues are not limited to Boston, it’s all over the US, we have plenty in California for that matter. It’s nice in the fact that he has put the issue out to everyone seeking ideas and contributions, two or more heads are always smarter than one, especially in the times we are living in today. The University itself has also been taking a hard look at their financial state as in the news of recent too. You can always find his blog under the blog roll section on the site. BD

Beth Israel Deaconess Medical Center, facing a $20 million loss this year, says it is cutting expenses by freezing salaries for some employees and reducing top executives' pay, and also considering layoffs.

In an e-mail to employees, chief executive Paul F. Levy said the expense cuts are necessary because of state cutbacks on Medicaid payments, a disappointing contract with Blue Cross and Blue Shield of Massachusetts, and an unexpected drop in patient volume.

In addition, many hospitals depend on charitable donations from wealthy philanthropists, as well as income from investments. Between the Bernard Madoff scandal and the plunge in the stock market, much of that income has evaporated for many institutions. Many Boston hospitals also hold annual fund-raising activities in Palm Beach, Fla., where numerous residents have been affected by the Madoff scandal.

Last month, Dr. Edward J. Benz Jr., president of Dana-Farber Cancer Institute, spelled out cost reductions, including eliminating 100 of 3,575 full-time jobs, slowing the growth of capital spending in 2009 and beyond, and postponing plans to lease 100,000 square feet in a new research tower on Longwood Avenue.

In face of $20m loss, Beth Israel Deaconess moves to trim expenses - The Boston Globe

Related Reading:

The Madoff Whistleblower - Lack of motivation, interest, education and use of modern technology failed a whole bunch of people, including many in healthcare

Madoff Scam Hits Harvard Medical School Grants and affiliate Beth Israel Medical Center

Non-Profit Cancer Center Closes In Newton Massachusetts – Madoff Fall Out

Hospital Marketing in Massachusetts and some California Marketing

Wall Street Greed and Fraud Hits Boston Hospitals and Healthcare - donors bilked out of millions

Hospital Branding – Is the Most Expensive Always the Best?

Technorati Tags: Healthcare,Congress,Stimulis,healthcare,EHR,interoperability,Aggregated hospital data,Harvard Healthcare,Beth Israel Deaconess Hospital,Paul Levy,Budget Cuts,Hospitals,Economy

University of Connecticut Health Center asks Legislature to Approve Merger With Hartford Hospital

Anonymous — Sun, 14 Dec 2008 19:29:00 GMT

One more sign of the tightly stressed economy as related to hospitals and healthcare, a potential merger which also carries many financial strings to be considered. As stated in the last sentence here, it is a decision of having a publicly medical school in the state, as public funds would be deemed necessary to make it all happen. It is the only public hospital in the state, and even though California a much larger state, I almost couldn’t imagine the possibility of no public hospitals here, one scary thought indeed. BD

THE University of Connecticut Health Center, which has survived with the aid of $52 million in state bailouts since 2000, is now hoping for legislative approval to merge with Hartford Hospital. Advocates of the merger believe that it would eventually end the need for repeated infusions of state funds and would give Connecticut a major academic medical center that could provide an economic boost to the region.

The proposal comes amid forecasts of state budget deficits as high as $6 billion over the next two years.

“I suppose this does seem like a bad time,” Mr. Hogan admitted as he began a round of lobbying visits with legislative leaders earlier this month. “In the long term, though, the hospital has to be rebuilt. I don’t see any way around it.”

Ms. Heinrich said that lawmakers must also consider the possibility of closing the UConn health center, which has encountered frequent financial problems since it opened in the 1960s. “Just like with every decision we have to make, we have to look at every option,” she said.

He said UConn would also need the state to pay for the difference between the cost of benefits and health care for Hartford Hospital employees and the more-expensive plans that UConn Health Center employees, who are state employees, have.

Mr. Hogan estimated that cost at $10 million to $15 million a year.

“The real question is whether we want to have a publicly funded medical school in this state,” said Ms. Harp.

Hartford - University of Connecticut Health Center asks Legislature to Approve Merger With Hartford Hospital - NYTimes.com

Technorati Tags: Desperate Hospitals,heatlhcare,hospital,Connecticut,funds,economy

The Economy – One more Reason to think about a Free PHR

Anonymous — Tue, 18 Nov 2008 22:09:00 GMT

This is just one more thought here and with IT budgets being back burnered and cut at the upper levels, if you are in a medical practice, some of the technology may be put on hold, so if you want to have credible records at the office for no cost, try the PHR and educate patients.

Even if you do not have an electronic medical records system, you can still view, print and even transfer information to a Word document to get you by until an EHR or EMR is affordable. It sure beats the heck out all the paperwork too of having to ask patients to fill all of that information in over and over.

When you think about it, wouldn’t it be nice to have an entire records of a patient’s medications that have been imported from one of the drug stores? Sure it would and also, wouldn’t it be nice to have the information sent to a specialist too with the patient opting to share? Sure that would be great also. Wouldn’t it also be nice to see a record of blood pressure readings or glucose readings that have been added by a device you can buy at the drug store that is certified to work with MS HealthVault? Again, credible information for free.

If you are waiting for your place of work to begin with an integrated medical record system and things are put off, help yourself and patients too, and again it is free for all. The pilot Medicare program for Arizona and Utah seniors starts January 1st, so there is one big push here, why, it is free and just costs a little time to learn how to use it and benefit, you will be miles down the road and it will help avert medical errors with credible information at your fingertips. BD

Technorati Tags: PHR Pilot program,Personal Health Records,medical records,healthcare,economy,Medicare