This week in San Diego, Singularity University is holding its Exponential Medicine Conference, a look at how technologists are redesigning and rebuilding today’s broken healthcare system.
Healthcare today is reactive, retrospective, bureaucratic and expensive.
It’s sick care, not healthcare.
This blog is about why the $3 trillion healthcare system is broken and how we are going to fix it.
First, the Bad News:
- Doctors spend $210 billion per year on procedures that aren’t based on patient need, but fear of liability.
- Americans spend, on average, $8,915 per person on healthcare – more than any other country on the planet.
- Prescription drugs cost around 50% more in the U.S. than in other industrialized countries.
- At current rates, by 2025, nearly ¼ of the US GDP will be spent on healthcare.
- It takes on average 12 years and $359 million to take a new drug from the lab to a patient.
- Only 5 in 5,000 of these new drugs make it to human testing. From there, only 1 of those 5 is actually approved for human use.
And Now, the Good News: