Dispensed: The state of the consumer genetics market, a thorny issue facing Medicare for All, and a very Happy Thanksgiving to you all
Hello, Welcome to a very special mid-week edition of Dispensed, in which the smell of pies baking is already starting to fill the air and we're looking forward to a long weekend filled with Thanksgiving treats. require(["inlineoutstreamAd", "c.
Welcome to Dispensed, Business Insider's weekly healthcare newsletter that's officially been up and running for a year! Here's a look at our, if you're looking for a blast from the past.
Are you new to the? You can here.
A quick housekeeping note: Healthcare is officially a $US3.6 trillion industry in the US (up from). That's according to the Centres for Medicare and Medicaid Services, .
Amazon's AWS cloud business has reportedly come under scrutiny from the FTC as it looks into whether the company engaged in anti-competitive behaviour
The Federal Trade Commission is now looking at Amazon's cloud business in addition to its retail business to see whether the company engaged in any anti-competitive behaviour, according to Bloomberg. As part of its scrutiny of Amazon Web Services, the FTC could look into whether Amazon is discriminating against companies that work with other cloud providers. The reportedly expanded look into Amazon's business practices comes as tech giants across the industry have come under scrutiny over the size and influence of their presence in the market. Visit Business Insider's homepage for more stories.
That breaks down to $US11,172 spent on healthcare per person in the US. Spending on retail prescription drugs increased 2.5% between 2017 and 2018, driven by new drugs used in the treatment of cancer and autoimmune conditions.
A figure that's sure to be cited as well by the Trump administration: Retail prescription drug prices fell 1%, driven by lower generic drug prices as well as relatively lower growth in prices for branded drugs, the report said.
With that in mind, let's get to the rest of this week's headlines.
To start out the week, I spoke with two chief information officers at health systems who have made the move to the cloud - Mayo Clinic and Providence St. Joseph Health.
They gave me some good insight on what it takes to make the move, and why they did it (at a time when there's scepticism about working with tech giants).
Is My Google One Storage Plan Ripping Me Off?
Is Google ripping everyone off with its Google One cloud-storage service? I confess, this isn’t something I’ve thought about much, but a Lifehacker reader recently sent a letter to our tech-advice column asking this very question. I’ll let George explain: “I recently upgraded my Google account storage via Google One. I opted for 200 GB. I assumed my total storage would then be 215 GB; the free 15 GB that I had with my free Google account, plus the 200 GB I am now paying for. But that is not the case. I have 200 GB of storage for my Google account.
- Hospitals and tech giants are starting to work more closely together.
- In November, Google's work with the second-largest health system in the US came to light, raising questions about how Google will use the patient information that's being transferred to its cloud.
- We spoke to two tech chiefs at top health systems that have started the move to the cloud about why they made the jump.
- They shared three elements health systems should keep in mind when setting up relationships with tech companies to ensure patient information is handled appropriately - and one justification health systems shouldn't use to move to the cloud.
It was an interesting contrast to mythat haven't made the move to the cloud yet. If there's anything I've learned through my reporting and conversations with CIOs, it's that keeping up with technology and keeping patient data safe and private are no easy feat to do at the same time.
Amazon CEO says wants to work more with Pentagon
Amazon CEO says wants to work more with PentagonSIMI VALLEY, Calif. (Reuters) - Amazon.com Inc founder Jeff Bezos said it would support the U.S. Department of Defense as technology companies vie for more defence contracts and the Pentagon seeks to modernize itself.
Somewhat related in CIO-land, Mayo
It will be interesting to see what comes out of that work. Halamka told me this week that there are three areas he's focusing on to start: helping to facilitate more hospital care done in the home via the platform, finding ways to use data for more preventive measures, and finding ways to make past patient data more useable by current patients looking to learn from those experiences.
Elsewhere at the intersection of technology and healthcare, over the past few months I've been trying to get a better grasp on what all the role of a chief digital officer entails. Here's what I learned from the CDOs of Pfizer, CVS Health, and Novartis.
- Healthcare giants are hiring chief digital officers to help the companies better use technology within their businesses.
- Each role carries its own priorities, from finding ways to enhance drug discovery and development to better connecting with consumers.
- We spoke with the chief digital officers at CVS Health, Novartis, and about their priorities.
This week, Novartis also came out with a partnership working with Amazon Web Services. The two will work together to essentially digitize Novartis's manufacturing processes. Novartis CDO Bertrand Bodson told me the team comprised of Novartis and Amazon employees working together will adhere to
Health funds call for urgent reform after government caps price hikes
The smallest annual increase since 2001 will come as a relief for consumers, but health funds have pleaded for reform to help them deal with their rising costs. Health minister Greg Hunt on Saturday said health insurance premiums would increase by an average of 2.92 per cent next April, after rejecting the funds' proposal for averages hikes of 3.5 per cent.The smallest annual increase since 2001 will come as a relief for consumers, whose wages are only growing at 2.2 per cent annually and have been dropping out of the private system because of affordability.
Lastly, I caught up with Michael Dixon, a 10-year vet of Sequoia Capital who just joined newly created Transformation Capital, spun out of SVB Leerink. We had a good chat about what's ahead for digital health after an eventful 2019.
- Michael Dixon, who spent 10 years at Sequoia Capital, is joining a new venture fund focused on digital health.
- Dixon is joining up with the Sequoia alum Todd Cozzens and Dr. Jared Kesselheim at Transformation Capital, the recently spun-out digital-health venture arm of SVB Leerink. The fund, which initially got its start within the bank in 2016, manages $US313 million.
- At Transformation Capital, Dixon is looking to invest in commercial-stage digital-health companies, especially those selling to organisations beyond hospitals.
- "The thing that excites me equally and more is the advent of new customers in the marketplace," Dixon said.
I'll leave you with a fun post that isn't on BI.
Our editorwrote a post for the (or, if you're double checking your already-made decision like me).
I'm going to be in Boston on Tuesday at the. If you're around, I'd love to say hi and grab coffee! I'll be interviewing Livongo's Glen Tullman onstage, so if you have any burning questions for him, send them my way. You can find me at firstname.lastname@example.org.
'Natural buzz' for Goldman Sachs, Job hunting at McKinsey and Netflix, and investigating a tech CEO's unexplained death .
Hello! Healthcare editor Zach Tracer here, filling in for Matt Turner while he's out on parental leave. We have lots of fascinating stories for you this week, as we approach the end of the decade. But first, a plug: If you want more healthcare news from Business Insider in your inbox, you can subscribe to our weekly newsletter here.Melia Russell has a story this week that I haven't been able to stop thinking about. On its face, it's an investigation into the still-unexplained death of Erin Valenti, the 33-year-old founder of a tech startup in Utah. But it's also a story about the pressures and loneliness of leading a business.