New medical tests, treatments and devices are often very expensive when first introduced. Eventually, market forces bring the prices down. However, since most patients don’t pay for healthcare out of their own pockets, they don’t want to wait.
Patients disproportionately demand the latest, best medical products and services immediately — often, even if the demanded good is of marginal relevance to their condition. Leaving out questions of universal access and rationing, how can we make more medical innovations more affordable, more quickly, for more people?
Which proven strategies from Silicon Valley, the Moon landings, the Manhattan Project or other successful models could be applied effectively to achieving faster, yet less costly innovation in health and medicine?
Meet the Challenge Team
The Challenge Team Members are leaders in their fields and reflect multi-disciplinary, passionate and thoughtful perspectives for the Challenge they represent.
Challenge Team members participate in the discussion held by the Great Challenges community, and will be creating responses to questions submitted by the community on the discussion tab.
Margaret Anderson is Executive Director of FasterCures/The Center for Accelerating Medical Solutions, an action tank working to improve the medical research system – to speed up the time it takes to get important new medicines from discovery to patients. She defines the organization's strategic priorities and positions on key issues, develops its programmatic portfolio and manages its operations. In her role, she helps bring sectors together to facilitate collaboration and ensures policies are in place to promote medical progress.
In 2011, the Clinical Research Forum recognized her with an award for leadership in public advocacy, a testament to the positive impact of her leadership and FasterCures' vital role in improving the medical research system. She is president of the Alliance for a Stronger FDA, and co-chairs the eHealth Initiative's Council on Data and Research. She also is a board member of the Council for American Medical Innovation, the Coalition for the Advancement of Medical Research, the Prostate Cancer Foundation Government Affairs Committee, and the Institute of Medicine's Forum on Drug Discovery, Development and Translation.
Achieving better, cheaper, faster medical solutions requires traditional and nontraditional partners to come together to innovate, collaborate, and get things done. We know that the brightest, most transformative idease surface when disciplines, sectors, and industries intersect. We also know that if each sector works together and operates at peak performance, we can save time in the development of medical solutions. And by saving time, save lives. This challenge is at the core of what we do at FasterCures.
In addition to his work at IDEO, Stacey has founded financial services software companies, led instrument platform development for surgical robotic systems, and counts among his experience, forays into automotive design, corporate research and academic teaching. He also actively mentors several technology start-ups in Silicon Valley. In all his engagements, Stacey is passionate about the application of design thinking and developing technology towards the betterment of the human condition.
Stacey was named to Medical Device and Diagnostics Industry magazine’s “40 under 40” list of medical technology innovators in 2012.
An author of over 40 landmark strategy publications for hospitals and health systems, Mr. Roades is a nationally recognized speaker and an authority on the most pressing issues for healthcare CEOs, including emerging reimbursement and incentive models, the intersection of national health policy and delivery system strategy, hospital physician alignment, and the future of health care, such as the industry’s potential for vertical consolidation.
Mr. Roades was an engagement manager at McKinsey & Company, a management consultancy. In this role, he was responsible for leading engagements on strategy, organization, and operations for Fortune 500 clients. Previously, Mr. Roades served for five years as an officer in the United States Air Force. He also serves on a number of nonprofit and governmental advisory boards.
A Stanford MBA, Mr. Roades also holds a master’s degree from Stanford, and a bachelor’s degree in economics from the University of Virginia.
Tecco was named as one of “12 Entrepreneurs Reinventing Healthcare” by CNN, one of “15 Women to Watch in Tech” by Inc. Magazine, and was a L’Oreal “Woman of Worth” Honoree. Tecco has written for Harvard Business School Publishing, Stanford Social Innovation Review,Glamour.com and ForbesWoman. She has a Bachelor of Science degree from Case Western Reserve University and a Master of Business Administration from Harvard Business School.
What excites Diego Miralles the most about the future of healthcare is that he knows the best is yet to come. Through his work leading various groups in the Janssen Pharmaceutical Companies of Johnson & Johnson, Diego is working to drive healthcare into that bright future. As the head of Janssen Healthcare Innovation, Diego oversees initiatives that will improve the consumer healthcare experience, achieve better outcomes and save healthcare dollars. Diego leads J&J’s California Innovation Center, which provides direct (one-stop) access to J&J for local and regional scientists, entrepreneurs, and businesses looking for partnerships. Diego also serves as head of Janssen’s West Coast Research Center.
Diego has a background of over 13 years in the healthcare industry and 12 years in the hospital and academic worlds, including extensive clinical research experience, mostly in the HIV/AIDS space. He serves as an adjunct full professor in the Pharmacology department at the University of California, San Diego and is on the Board of the Rady Children’s Hospital. Diego graduated from the University of Buenos Aires School of Medicine in 1986.
As a leader of multiple innovation groups within the world’s largest global healthcare company, Johnson & Johnson, I have many opportunities to engage with and contribute to medical innovation. As head of Janssen Healthcare Innovation (JHI), I am overseeing a talented team tasked with developing integrated solutions that empower consumers by applying new technologies and novel approaches to optimizing healthcare delivery so that we can lower costs and improve outcomes for patients. In leading J&J’s newly announced California regional innovation center and Janssen Labs (home to over 18 start-up and entrepreneurial healthcare companies), I am forming relationships with an amazing network of healthcare entrepreneurs who share the vision of transforming healthcare. I am looking forward to applying my passion and expertise to the Achieving More Medical Innovation, More Affordably Great Challenge.
Challenge Team Perspectives
We selected 10 questions out of the many submitted by our Great Challenges Community, to be addressed by each of our Team members.
See their responses and perspectives, below.
Question 1What are the top 10 contributing factors to this Great Challenge (i.e. obstacles to “Promoting Medical Innovation”)?
- Inadequate investment in and oversight of the U.S. primary educational system, including science and math curriculum
- Lack of a meaningful and objective way to assess the effectiveness of healthcare technologies and allow purchasers to make informed decisions (although the hope is that the comparative effectiveness institute could change that)
- Payment systems in the private and public sector that do not reward quality or value
- Patent laws that stymie invention by allowing manufactures to game the system
- Congressional budgeting processes that force law makers to focus on short to mid-term changes in spending (i.e., 10 years or less) when dealing with long term, systemic problem
- Lack of adequate resources to oversee and police devices and pharmaceuticals at the FDA
- Loss of "public good" ethos in U.S. research universities
- The tension between information and privacy
- The lack of effective standardization of information systems. In "The Healing of America" TR Reid describes systems in other countries where each individual has a smart card that includes all of their relevant health care information - and all providers use the same basic technology to read from and write to those cards. The inability of every provider to have access to this complete record is a major stumbling block
- Health illiteracy: too many adults lack even basic information about health and wellness, meaning that the patients themselves are not sufficiently engaged in improving their own care.
Select a Question to View The Challenge Team's Responses
The following questions were submitted by the TEDMED Community and selected for further discussion. The Team Members have weighed in on each, select below to see their responses: