Time flies! Week 6 now, and this means.. MID TERM IS COMING! I can feel the stress level increasing day by day, workload increasing minute by minute :/ Argh!
Anyway, today's session seems quite short, probably due to the many presentations during class. Basically, we covered the revolution of BioBusiness, in terms of healthcare and Biomedical Sciences. Prof showed us statistical figures of the market size of BioBusiness - Main focus on Global, South Asia, East Asia and USA figures.
If he had not mentioned about USA's spending on healthcare, I wouldn't have noticed that the number actually constitutes to more than half of the global spending on it! (Specifically 54%). And what's the reason for such a huge amount? Simply because, USA's spending the wrong way. While other countries would rather focus on investing in the younger generation to see how/ what more can be done to raise the life expectancy, USA actually invested large sums of money into life-saving measures for the aged.
Personally, I feel that it's a very big mistake to this move. It is similar to the case where someone is trying to salvage a never-ending situation instead of trying to prevent more from happening. How would it help to be able to prolong someone's (who had probably lived on Earth for say, 80 years) life by a little as compared to implementing some methods/ precautionary measures which could possibly enable the young.individual to live for over 80 years? You know that someone who has lived for 80 years would in a way, mean that their life journey should be nearing a full stop. And only when you just realized it that you start taking measures. Wouldn't that be a little too late?
But of course, I didn't mean that we should just neglect all the aged people. Rather, USA should change their perception or way of doing things.(I guess that it would feel as though trying desperately to save these group of people would be never ending too, as people are always dying and no matter how you try to save them, when they reach the end of their lives, it means the end. So why not, take a look at things from a different point of view. Start from the younger people.)
Next, we moved on to talk about the opportunity areas of BioBusiness. There are so many ways in which this industry can advance into. 4 main categories:
1. Biomedical BioBusiness
2. Environmental and Industrial BioBusiness
3. Agri-Veterinary and Food BioBusiness
4. Other BioBusiness Activities (which includes sub-categories such as Bioengineering, Bio-IT, Nanotech and Life Sciences).
Another point which caught my attention was the discussion on spiderwebs. An inch-thick of spiderweb has the ability to lift up a jet or something? oO. That's really amazing. Will probably do some research on it for general knowledge as it seems really interesting.
The last part of the session before all the presentations were the readings. We mentioned about the vicious cycle that escalates cost. For example, someone bought a healthcare insurance policy and due to some reasons, he/she fell ill; hospitalized. In order to grab the opportunity to make a worthy claim from the insurance company, this person tries to go for all sorts of treatment (be it full body screening or any important but unnecessary ones), staying over at Class A ward.. and then charge everything to the company. While the doctors are very willing to grant this patient his/her requests, it becomes really unfair to this poor insurance company. - and that's Moral Hazard.
The second point we discussed about was that, with the rising cost of healthcare, poor people are unable to afford treatment which could save their lives. As such, they are left to die. How cruel can this get?! Well, I feel that every individual should be entitled the rights to live on and hence, get treatment (some way or other even if they can't afford it). And an alternative where these people could turn to would be WHO. They should actually implement a policy where products, help and treatments should go to where they are needed.. and not be left neglected just because they couldn't afford any of such things.. :( I believe that there are still, many rural areas being left unconcerned for; fighting for own survival..
The last point was, approximately 40 million people in USA are not covered by insurance and these people without these policies are not entitled to treatment UNLESS they face life and death issues. Another unfair situation.. which I believe many would agree that healthcare isn't supposed to be run or provided for this way. Almost everyone who seeks treatment meant that they needed such services. So, how could they be turned away? I couldn't imagine a seriously injured person, fighting for his dear life and being admitted through A&E, be left on the stretcher and unattended to, just because he doesn't hold an insurance policy.. Hmmm. I could be exaggerating this situation (LOL) but just some pure thoughts - one of the worst case scenarios.
PS: With regards to the vicious cycle, just out of curiosity: Prof, since you studied medicine and also mentioned about dermatology during class, do you know of any special medicines or VERY effective cures for super acne face? Hahah. My brother who is one year younger than i am, has been visiting the skincare specialist for a long time (no idea how long, but very long). Somehow his face just doesn't get cured. Wonder if it is really due to super late nights or the doctor is trying to prolong treatment? lol.
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