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Is The Golden Era of Pharmaceutical Profits Over?
For decades, the pharmaceutical industry has been highly profitable. The recipe for such profits has been pretty simple for most of the last half-century–discover a chemical or molecule that treats a common problem, like hypertension or diabetes or erectile dysfunction, and make billions of dollars while that product is still under patent protection. But of…
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A Force More Powerful Than Anti-Vaxxers? Economics!
We have a vaccine crisis in the this country. Not just the one caused by anti-vaxxers like Jenny McCarthy, scaring Americans away from life-saving childhood vaccines with pseudo-scientific claims about autism. Instead I’m talking about a bigger crisis, one caused by a dangerously thin supply of vaccines. Wise parents who ignore the blatherings of people…
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Out of Control Physicians: Too Many Doctors Doing Too Many Things to Too Many Patients
My father is 92 years old, and I am beginning to wonder whether the best thing for his health would be to stay away from doctors. That’s because well intentioned physicians often expose their elderly patients to harmful and unnecessary services out of habit. That’s certainly the message I absorbed after reading a recent issue…
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What Behavioral Economics Get Wrong About Improving Healthcare
It is notoriously difficult to change physician behavior. When it’s discovered that primary care physicians are, say, prescribing too few cholesterol pills or too many antibiotics, it will not be easy to change those behaviors. Physicians are strong-willed people, with lots of things competing for their attention and with many well ingrained habits. That’s why…
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Nice Coverage of Our Robot Study
My student and colleague, Karen Scherr, recently published an excellent article showing that physicians don’t always describe robotic surgery in an unbiased manner. Here is a nice write up of that work: Author Peter Ubel referred to a study done at four Veterans Affairs medical centers of men making decisions on how best to treat…
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Three Things to Know about Future Healthcare Spending
For my entire life, a half century and counting, healthcare spending in the U.S. has almost always risen faster than inflation. Sometimes it’s relatively slow, sometimes it’s relatively fast, but no matter the time, healthcare spending is climbing. Getting healthcare spending under control is really important for us to do if we hope to have…
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Industry Shenanigans?
I know, I know: correlation does not mean causation. But it is still suspicious that when industry employees join as co-authors in medical journals, the randomized trials they are writing about are more likely to show positive results – results that make industry products look good. At least that was the finding from a study…
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How Supermarkets Influence Shoppers
Here is a great graphic from the Center for Science in the Public Interest laying out how supermarkets lay out food to encourage impulse purchases: So much for “free” markets!
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The Healthcare Efficiency Myth – What Really Happens When Doctors And Hospitals Join Forces
For much of the history of U.S. medical care, hospitals and physicians have existed as separate financial entities. Physicians in the U.S. have typically been self-employed, as solo or group practitioners and not as hospital employees. An internist like me might have admitting privileges to several local hospitals. When we admit patients to one of…
