Observation - Prediction #1 of 3:
As I wind up my year, I am thinking about how connections that have evolved further in 2006 will change our future forever as new Connected Market Spaces emerge for business.
These last few Blog entries of the year are my favorite observations, books I've read, and offer a fond farewell to a wonderful year 2006 - with sights set on 2007 and the opportunity to deepen our connections with our markets, our customers and clients we here as some things that will creating more value than ever in the future and my thoughts:
Health Care 2006 to 2007 & Beyond: Views, connections and prediction #1
In Healthcare in America this was the first year of Medicare Part D. A feeble attempt at supporting medications for the elderly, but an attempt none the less. Forget about the fact that the Pharma Industry successfully navigated the waters by preventing the US Government from negotiating prices for medication (a coup compared to Canada and the rest of the world that offers their citizens health care support). Forget about a system doomed to fail as the realization first hit Ma and Pa America by surprise in the pocket book. Medicare Part D redefined the term "doughnut hole" which became a hole in thousands of American's wallets. This was the year when Mrs. Jones, and millions like her, first found out that she they were going to have to pay more for their prescription medications than she had with her favorite Canadian "global" pharmacy. None the less, Medicare Part D was, as clumsy an event as it is and has been, a clear acknowledgement of change on the horizon in the way prescription medications, and yes health care in general, in America and globally will evolve.
With the event of Part D, I predict that connections will grow globally. A clear understanding is percolating like a good cup of Starbucks Christmas brew. A clear understanding has been born in Ma & Pa America. When Lipitor costs $300 per month in the US and $60 per month in the UK, any simple math will shows that Medicare Part D will not work long term. A good cup of coffee beats a watered down knock off any day. Global pharmacy is here to stay like Starbucks $3.00 per cup - any one can now calculate that the cost of meds should be market and demand driven rather than inflated simply due to geography.
Starting in December, we have brought the Connected Market Space live for the global Pharmacy - www.Pharmocracy.com Beta live. As the community of pharmacy standards grows, the prescription market will grow in its connections (rather than contentions) between the industry leaders and the consumers. A general leveling of prices will pave the highway of efficiency in health care rather than a San Francisco Lombard Street like zig zag between global pricing strategies and geographic based consumers that has existed for decades for the same medications globally. Watch as the Global Pharmocracy evolves in its connections for prescription medications while industry giants discover that it's better to travel the straight road and deliver better health care and, it is a clear path that's always good for everyone's health or financial bottom line.
A few books on the topic you may enjoy:
Written by a fellow speaker friend of mine on the subject of Global Pharmacy, "The Whistler Blower" - Peter Rost, MD ,may help you form your own opinion. Peter and I spoke on the circuit for a few years regarding the evolution and need for change in pharmaceutical practices.
For a view from the other side, CEO of industry giant Pfizer - Hank McKinnell, Chairman & CEO of Pfizer, Inc. delivers, "A Call to Action: Taking Healthcare Back for Future Generations". An account by this "Canadian" come American CEO (a man from our own little island of Victoria, BC) - Mr. McKinnell takes the corporate view of pharma and health care into account. You can buy it on Amazon new for $19.84 or $0.46 - does the price difference of the book reflect the views or the spread on pharma margins?
"The New Health Insurance Solution" by Paul Zane Pilzer. Are you familiar with Health Savings Accounts? if Americans get to keep some of the money for retirement if we stay healthy using HSA plans, wouldn't we always want the best value for our medications? Yet another indicator to ponder as you form your view of this evolving Connected Market Space in Health Care.