One would think that as advanced as our civilization has become over the past couple of centuries, we would have the tools and techniques needed to significantly improve our medical industry to the point where there was no disease we couldn’t cure. But after witnessing the disaster from the coronavirus, we were met with the harsh reality of how far behind we are in the medical world.
Healthcare, especially in the United States, is in dire need of help and assistance. Sure medical treatments have come a long way and have made astonishing creations over the years. But the treatment and delivery of these treatments can often be ineffective, inefficient, and often, consumer-unfriendly.
Some of the most common problems that we have witnessed so far range from medical errors, which account for around the eight leading death causes in the United States – threatening the economic future of businesses, governments, and individuals called to foot the bill. Additionally, around 40 million people in the United States do not have health insurance.
So what exactly are these challenges that we are facing? Read on to find out some of the few important ones we have listed below.
In healthcare, innovation represents two types of financial challenges – funding for the development of the innovation and finding an investor who will be willing to pay for the product or its services.
A problem in this process is the amount of time it takes for investment in new therapies and drugs that require approval from the FDA. While venture capitalists that are backing an IT start-up might be able to get their money in a few years, biotech firm investors need to wait about a decade before they can even find out if the product will even be approved or not.
There have been many cases where regulations set up by the government can either aid innovation or completely hinder its process.
Hence, it is important for innovators to understand that there is an extensive network of regulations that can affect specific innovations and the rules that are modified and applied. An example can be how the public and the politicians will punish officials even more for approving a harmful drug than for tightening the process for approval, even if it ends up delaying a useful innovation.
Fortunately, not everything is all that gloomy in the medical industry and improvements are steadily being implemented bit by bit.
Consider the world done by one of the best clinical research executives of our time, Juan de Borbon who has been conducting more than 2000 clinical trials that are spread across diverse therapeutic areas, including cardiology, infectious disease, cardiology and so much more.
Over the years, he has contributed so much to the medical industry. One of his major contributions included joining the American Health and leading the organization to the development of smart clinics around the world while simultaneously upgrading the existing health care system within each targeted county to the American Standards.
He also worked directly with Nano Cures Pharma to grant access to their cure COVID-19 vaccines to nations in need and has been working with the republic of central Africa and Thailand directly to get Emergency Use Authorization of said vaccine in those countries.