Paper Chase: What Advances In Medicine Mean For You
The Fed indicated there would be a rise in rates if economy remains strong. The economy grew at 1.5% last quarter, a sharp decline from 3.9% of last quarter. The GDP is the broadest measure of the size and scope of our economy.
Genomics is probably the most visible phenomenon in the advances of modern medicine. We’re beginning to change the nature of how we treat diseases by looking how they are genetically occurring. For example, we can genomically test cancer to find out what drugs that particular cancer will respond to.
Genomics also aid in predicting where we are individuals and our risk. Genetic testing from birth will allow is to pinpoint risks and influence them going forward. For example, genomics can tell if a person will be as risk for colon cancer and therefore necessitate colonoscopies earlier on in life. Medicine canow allow us to take preventative steps for issues by alerting us when we are at an increased risk.
There are new guidelines concerning breast cancer screening for women at “average risk. They suggest beginning mammograms at age 45, not 40, annual screenings for women ages 45 to 55, and screening every two years for age 55 and up. Breast exams are no longer recommended.
The three goals of Obamacare were to increase access, improve quality, and reduce cost. 13,000.000 more people were covered, so access has been increased. Generally, quality has stayed the same though there are now less hospital remittances and less people dying.
Concerning affordability, the inflation rate has gone down for costs though that is coincidental with the Great Recession. The inflation rate will likely increase as much as 5% as a result of more people being covered. We do know that approximately 20% of people are underinsured so that they may only have, for example, 60% coverage in case something serious has happened. There will certainly be tremendous pressure on the healthcare industry to reduce costs.
A global health study has found that red meat is linked to colorectal, pancreatic, and prostate cancer. Processed meat has been linked to colorectal and stomach cancer. Unsurprisingly, the meat industry has criticized the findings. More fish and more vegetables are generally recommended.
Turing Pharmaceuticals acquired Daraprim. The drug treats a rare parasitic infection. The price was hiked from $13.50 per tablet to $750 per tablet representing a 5000% price increase for the 62 year old drug. Valeant Pharmaceuticals acquired two heart related drugs in April. Nitropress was one and they raised the orice 200%. Isuprel was the other, and they raised the price 500% on it.
Costs of Medicine
Is the market going to take action against pharmaceuticals? The problem is many companies have the industries cornered. As quickly as costs are reduced, prices are raised. Pharmaceutical costs rose 19% last year.