Globalization Of Healthcare: The World Is Getting Flatter; Economic Opportunities Beckon: #4 & 5

Editor's note: Local Tech Wire asked Grace Whi-Tze Ueng to discuss the proceedings at the Council for Entrepreneurial Development's recent biotech form. Ueng, founder and chief executive officer of Savvy Marketing Group, moderated the panel.

RESEARCH TRIANGLE PARK, N.C. - A record-breaking crowd of over 225 people kicked off CED's 2006-2007 Biotech Forum series by attending a discussion on "The Impact of Globalization in Healthcare" earlier this month.

A lengthy waiting list was accommodated through an overflow seating theatre validating the strong interest in the Triangle on this topic. The event was co-hosted by CED and the North Carolina Chinese Business Association (NCCBA) with corporate sponsorship from IBM

Panelists included Victor Dzau, MD, Chancellor for Health Affairs, Duke University and president and chief executive officer of the Duke University Health System; Art Pappas, managing partner of Pappas Ventures; Dan Pelino, general manager of IBM Healthcare and Life Sciences Industry; and John Ratliff, executive vice president and chief financial officer of Quintiles Transnational.

These experts raised eight key points:

4. Globalization Of Healthcare Has Changed Healthcare And Pharmaceutical Delivery In The U.S. - We need to wake up and realize that the rest of the world is moving faster than we are and that it is only prudent to outsource certain services for the sake of our patients. Patients' expectations in a critical healthcare moment are that their x-rays will be read immediately. Having highly trained radiology technicians in India reading their scans over night is just one specific example of how timely healthcare decisions can be made for patients in the U.S.

In our local community, Duke Clinical Research Institute conducts studies at more than 3592 sites in 64 countries and it is Duke's responsibility to ensure consistent quality worldwide to maintain DCRI's position as the world's largest academic clinical research organization.

5. Outsourcing Beyond Manufacturing And True Innovation In Developing Countries -- While India and China were most often cited for their outsourcing and innovation, panelists wanted to make sure other developing countries were included such as Singapore, Brazil, and Eastern Europe. India was given most credit for IT innovation and there was mixed reaction to their emerging trade in 'medical tourism' where hips can be replaced or resurfaced at 10 percent of the U.S. list price -- a saving grace for the millions of uninsured or underinsured U.S. citizens and for those seeking a break on cosmetic surgery or dental work which is often not covered by insurance.

For instance, Brazil has long been a haven for aesthetic surgery and buoyed by natural product resources, their plastic surgery business has flourished. Finally, Dzau noted the large strategic investment Singapore has been making in the biotechnology sector in the last decade, specifically in the area of stem cell research stating that "people are going to Singapore instead of Stanford to do stem cell research".


Full Story: http://tinyurl.com/2d4tyk3

Editor's note: Local Tech Wire asked Grace Whi-Tze Ueng to discuss the proceedings at the Council for Entrepreneurial Development's recent biotech form. Ueng, founder and chief executive officer of Savvy Marketing Group, moderated the panel.

RESEARCH TRIANGLE PARK, N.C. - A record-breaking crowd of over 225 people kicked off CED's 2006-2007 Biotech Forum series by attending a discussion on "The Impact of Globalization in Healthcare" earlier this month.

A lengthy waiting list was accommodated through an overflow seating theatre validating the strong interest in the Triangle on this topic. The event was co-hosted by CED and the North Carolina Chinese Business Association (NCCBA) with corporate sponsorship from IBM

Panelists included Victor Dzau, MD, Chancellor for Health Affairs, Duke University and president and chief executive officer of the Duke University Health System; Art Pappas, managing partner of Pappas Ventures; Dan Pelino, general manager of IBM Healthcare and Life Sciences Industry; and John Ratliff, executive vice president and chief financial officer of Quintiles Transnational.

These experts raised eight key points:

4. Globalization Of Healthcare Has Changed Healthcare And Pharmaceutical Delivery In The U.S. - We need to wake up and realize that the rest of the world is moving faster than we are and that it is only prudent to outsource certain services for the sake of our patients. Patients' expectations in a critical healthcare moment are that their x-rays will be read immediately. Having highly trained radiology technicians in India reading their scans over night is just one specific example of how timely healthcare decisions can be made for patients in the U.S.

In our local community, Duke Clinical Research Institute conducts studies at more than 3592 sites in 64 countries and it is Duke's responsibility to ensure consistent quality worldwide to maintain DCRI's position as the world's largest academic clinical research organization.

5. Outsourcing Beyond Manufacturing And True Innovation In Developing Countries -- While India and China were most often cited for their outsourcing and innovation, panelists wanted to make sure other developing countries were included such as Singapore, Brazil, and Eastern Europe. India was given most credit for IT innovation and there was mixed reaction to their emerging trade in 'medical tourism' where hips can be replaced or resurfaced at 10 percent of the U.S. list price -- a saving grace for the millions of uninsured or underinsured U.S. citizens and for those seeking a break on cosmetic surgery or dental work which is often not covered by insurance.

For instance, Brazil has long been a haven for aesthetic surgery and buoyed by natural product resources, their plastic surgery business has flourished. Finally, Dzau noted the large strategic investment Singapore has been making in the biotechnology sector in the last decade, specifically in the area of stem cell research stating that "people are going to Singapore instead of Stanford to do stem cell research".


Full Story: http://tinyurl.com/2d4tyk3

Comments

[what is globalization?]

I think this raises an interesting dilemma as to whether or not outsoursing is actually good for americans (in terms of losing jobs vs. the possibility of better services...)