Tag: Health Care

Goldman Sachs and Chris Rock on Health Care Profitability

Goldman Sachs analysts attempted to address a touchy subject for biotech companies, especially those involved in the pioneering “gene therapy” treatment: cures could be bad for business in the long run.

“Is curing patients a sustainable business model?” analysts ask in an April 10 report entitled “The Genome Revolution.”

“The potential to deliver ‘one shot cures’ is one of the most attractive aspects of gene therapy, genetically-engineered cell therapy and gene editing. However, such treatments offer a very different outlook with regard to recurring revenue versus chronic therapies,” analyst Salveen Richter wrote in the note to clients Tuesday. “While this proposition carries tremendous value for patients and society, it could represent a challenge for genome medicine developers looking for sustained cash flow.”

Goldman Sachs asks in biotech research report: ‘Is curing patients a sustainable business model?’
Tae Kim
PUBLISHED WED, APR 11 2018

Nothing’s been cured in my lifetime. Nothing. The last thing they cured was polio and that was during the first season of “I Love Lucy.”

At least they’re still working on AIDS. They won’t cure it, but they will figure out a way for you to live with it. They won’t fix it, they’ll just patch it up. Their hope is that one day someone will say, “How come you weren’t at work yesterday?”
“My AIDS is acting up. You know when the weather gets like this, my AIDS just pop up. But I got me some Robitussin and I’m fine now.”

They don’t want to cure anything because the money is in the medicine. It’s like anything else. You think Cadillac can’t make a car that lasts a lifetime? Sure they can. But there’s no money in that.

“We need people to come back. We’ll make a car that lasts seven years. After that, shit’s gonna fall off.”

Diseases are just piling up. People still get cancer, sickle cell, tuberculosis, Jerry’s kids still limping around.

Cure some shit. Get rid of it.

Rock This!
Chris Rock
April 19, 2000

The Algorithm Did It

Stanford Hospital staff protesting the decision by higher ups to give vaccines to admins at home from r/pics

lucynyu13
“There is an enormous demonstration going on at Stanford Hospital right now carried out by staff, who are protesting the decision by higher ups to give vaccines to some administrators and physicians who are at home and not in contact with patients INSTEAD of frontline workers.” Twitter

Only Seven of Stanford’s First 5,000 Vaccines Were Designated for Medical Residents. Stanford Medicine officials relied on a faulty algorithm to determine who should get vaccinated first, and it prioritized some high-ranking doctors over patient-facing medical residents.

tristanjones
Algorithm issue my ass.

You prioritized age, and in so seniority, and didn’t prioritize Frontline work, and depriotize those working from home.

It doesn’t matter if you asked a computer to then run the numbers, you set the rules.

The sentence should be “Hospital administration did not prioritize front line workers but instead accounted for seniority in distributing the vaccine. As a result only 7 of the first 5,000 vaccines for staff will go to Frontline workers. These results were accepted without further scrutiny or adjustments by the administrators incharge of doing so.”

neotropic9
“The algorithm did it” is increasingly an excuse used for shitty management decisions.

GreatBallsOfFIRE
Yup. Algorithms are created by people. The correct phrasing is “the algorithm was written to do it.”

Decision Making Software

She doesn’t remember exactly when she realized that some eligibility decisions were being made by algorithms. But when that transition first started happening, it was rarely obvious. Once, she was representing an elderly, disabled client who had inexplicably been cut off from her Medicaid-funded home health-care assistance. “We couldn’t find out why,” Gilman remembers. “She was getting sicker, and normally if you get sicker, you get more hours, not less.”

Not until they were standing in the courtroom in the middle of a hearing did the witness representing the state reveal that the government had just adopted a new algorithm. The witness, a nurse, couldn’t explain anything about it. “Of course not—they bought it off the shelf,” Gilman says. “She’s a nurse, not a computer scientist. She couldn’t answer what factors go into it. How is it weighted? What are the outcomes that you’re looking for? So there I am with my student attorney, who’s in my clinic with me, and it’s like, ‘Oh, am I going to cross-examine an algorithm?’”

The coming war on the hidden algorithms that trap people in poverty
A growing group of lawyers are uncovering, navigating, and fighting the automated systems that deny the poor housing, jobs, and basic services.
Karen Hao
MIT Technology Review

Cost of Health Care in the US – Some People’s Experiences

Trump Took Credit for Making Insulin “So Cheap It’s Like Water.” Tell That to People Paying For It. from politics

BOOFIN_FART_TRIANGLE
With good insurance my insulin, pump, and glucometer supplies cost over 650 per month.

REO_Jerkwagon
Pretty much. I didn’t mind my insurance at my old job. Never went to the doctor either. When I *did* end up having to have stomach surgery, I quickly learned to hate my insurance company. Tried to tell me hernia repair was fucking elective.

foxnkatz
Yeah that’s ridiculous. A similar thing happened when my wife had appendicitis. They said it was going to burst and as such would have to remove it. Insurance tried to tell her it was elective so they wouldn’t be covering the $77,000 hospital stay. Very crazy.

Deadsolidperfect
I’m a teacher and my insurance SUCKS! I had to pay 10k out of pocket 2 yrs in a row for random medical issues. We have a lot of teachers that are much better off on their spouse’s plan. I’d love to see what a good plan looks like

scrapmoneybenny
It costs $6 for a 3 month supply of insulin, here in Australia. That’s what’s cheaper than water is Trump, not $300 a week 

BOOFIN_FART_TRIANGLE
There are people from the United States in Southern California that open up pharmacies in Tijuana Mexico specifically for the diabetic market in San Diego. In Mexico, they can sell all types of insulins for pennies on the dollar. Less than what a copay is in the United States with excellent insurance. People drive down there and buy insulin, from a pharmacy owned by someone that lives in the US, for cheaper than what they can get it in the US for. It’s stupid.
… Decent plans disappeared long before the aca. They were well on their way out in The late 90s and early 00s (prolly even before that). I owned a business around 2004, and the overhead for employees to get healthcare was so astronomical, that it’s literally the only reason why we kept everyone as private contractors.

Quesoleader
I had the gall bladder removed about four years ago. Still paying off the 20k portion of my bill. It was more (45k) before I fought them over “choosing” out of network doctors when the hospital emergency room I went to was in network.

What People are Paying for Health Insurance

In California, one person told me that the cheapest insurance they could find — for one person, with very little coverage and a high deductible — goes for $330 a month.

I talked to a dog walker in Seattle who pays $675 — without dental coverage.

Another person reported that their bargain basement plan in Minnesota costs $250 a month.

In Dallas, $378 a month for a catastrophic plan with a $10,000 deductible.

And that’s if there’s just one of you: A freelance writer told me she’d had breast cancer, and her husband, a freelance photographer and photo editor, is an insulin- dependent Type 2 diabetic. They live in suburban New York, and currently pay $1,484 a month for coverage.

Anne Helen Petersen, BuzzFeed
How The Gig Economy Screwed Over Millennials

Insulin or Food?

In March, Bolei, 63, who lives in San Rafael, California, was laid off from his job as a maintenance supervisor at a startup that manages real estate properties. After falling behind on rent, he fears he’ll get evicted as rent moratoriums expire.

For the past three months, he’s missed his nearly $3,000 monthly rent payment due to growing medical costs for his partner. She has lupus, an autoimmune disease, and faces $30,000 in medication costs this year to treat a brain injury following a car accident.

‘Insulin or groceries’: How reduced unemployment affects struggling Americans from California to Mississippi
Jessica Menton
USA TODAY

“I can afford to stay alive a little while longer” – Paying for Insulin in the US

"I can afford to stay alive a little while longer" from ABoringDystopia

Negatoris_Wrecks My cousin needs a kidney. He has a volunteer match. Donor’s insurance wont cover it.

TechnicallyHuman But fuck is our health care system broken. I went to a new hospital WITH insurance that’s with in my network and bam. 300$ new patient fee. Never mentioned. Fucking racket.