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Monthly Archive: February, 2013

How Does Healthcare Economics in the U.S. Differ From Traditional Economics?

The concept of supply and demand is the cornerstone of economic theory. For simple commodities, the theory predicts that the demand for a product decreases as the price of the product increases and consumers are unwilling to pay the higher price. The supply increases as the price increases and suppliers increase production to capture increased profits. The actual price of …

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Healthcare Patents and Hot-Dog Vendors

While patents on medical devices seem normal, patents on drugs and chemical entities may seem like a stretch. I am not sure that the law makers in Venice in 1474, who invented the legal concept of a patent, envisioned the need to patent molecules. In fact, molecules were not even envisioned at that time. We all know that a patent …

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Finding Red Balloons for Clinical Trials

What do Guglielmo Marconi, mathematicians, a psychologist, Facebook, MIT and red balloons have to do with clinical trails? Keep reading. Guglielmo Marconi, father of wireless communication, a 1909 Physics Nobel prize honoree and successful business man, is credited as the first to introduce the idea of “six degrees of separation” between humans. Marconi focused on building a monopolistic network of …

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Sunshine Act is Coming…Late but Definite

Recently, the FDA/CMS announced the delayed ruling on the Sunshine Act. There are a few notable changes from previous FDA/CMS guidelines for both manufacturers and providers. The required notification period when data collection should begin has been doubled from a 3 month to a 6 month period. This will give manufacturers and group purchasing organizations a little extra time to …

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