Healthcare: Only for the rich?

BioBusiness - Commercial activity based on an understanding of life science processes

It was brought into perspective how they have very diverse aims, but they all actually come from the same source, based on one blueprint called DNA. Biobusiness branches out into many areas, and we took an in-depth look into the biomedical field, which is towards humans. 

The dilemma in healthcare?
The unfortunate thing about healthcare, is that it is being run as a business. Why is healthcare being listed as a biobusiness? It just seems that the target group is no longer geared towards the needs of the people, but more towards how it can be exploited as a business. The once noble intentions of doctors are now being "tainted" by profits it can make. People's lives are now being determined by how much they can pay if they live.

At the end of the day, one of the reasons why healthcare has progressed so far is undeniably due to the amounts of money that has been poured into it. Perhaps, the opportunity cost of losing that one individual, can be channeled into saving thousands of others.

That is the dilemma of healthcare, deciding where the money and time should be invested into. This can be further seen in the inefficiencies of healthcare currently faces:

1. In actual development of healthcare, due to the high costs, low profits nature.

The private sector is uninterested in the field of healthcare, due to the high barriers to entry such as infrastructure and R&D. 

2. In getting healthcare to its desired audience.

In areas which are more prone to diseases, such as Africa, are spending roughly US$10 per year on Healthcare. A bottle of medicine over the counter in US, already easily costs US$20.

3. The influx of funds into healthcare is being misallocated

US is spending half the world amount in R&D the healthcare, but most of that is due to the administration of healthcare. It was pretty horrifying to find out that it costs more to get the bottle of medicine over the counter, than it even is to manufacture that product!

This has led me to question healthcare's affordability versus its practicality. Are those who are rich and affluent, the only ones who are able to access healthcare? Why is it that technology seems to be directed towards a different aim than that which it should be going towards? Why is so much money being spent on improving healthcare, when we cannot even provide a basic umbrella of healthcare services for those who need it? That is something we should really ponder about. Is healthcare a right, or a privilege?

Nevertheless, it was interesting to see how technology has brought about so many improvements as compared to the healthcare of old, and how extensive and pervasive technology is in all areas of our everyday life. Most importantly, it was interesting to see how my mindset regarding dreams and reality has changed, when we look at how advanced technology can be in the area of disease management. Being able to look at things in a critical manner, and say that yes, nothing is impossible, is especially crucial in today's context.  Today, limits are those that only you set for yourself.

In allowing myself to dream, we can clearly see where traditional healthcare can still be improved in. Currently, the healthcare industry is still unable to effectively reach out to its customer base. I strongly believe that if Information and Communications Technology (ICT) is applied to this aspect, and not only within healthcare industry professionals, we would see many problems being solved in healthcare. Many problems that healthcare cannot do, can be actually be done at the rate technology is progressing.

Overall, I would rate this session an 8/10. I used to think that everything was fine and nothing CAN be changed, but now I know everything CAN be changed, its just a matter of time. Like prof said, the only constant is change!