Is Business Broken? Life Science Innovation: Who Should Pay?
Sep 26, 2024
In this engaging discussion, U.S. Representative Jake Auchincloss advocates for sustainable healthcare policies, while Michael Sherman shares insights on funding innovative therapies amidst high costs. Andrew Obenshain emphasizes Bluebird Bio's mission to pioneer gene therapies for genetic diseases. They tackle the complex interplay between innovation and accessibility, proposing collaborative funding models to improve patient access and addressing ethical considerations surrounding expensive treatments. Together, they envision a future where groundbreaking therapies are within reach for all.
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Gene Therapies: A Breakthrough Costly Cure
- Cell and gene therapies are groundbreaking one-time treatments curing previously chronic genetic diseases.
- These therapies are personalized, requiring complex cell manipulation, costing up to $3 million per patient.
Value-Based Payment Innovation
- Paying for gene therapies shouldn't be hard, but current financing is outdated and complex.
- Value-based agreements help de-risk payer investment by refunding costs if therapies don’t work.
Disease Costs: Wages vs Molecules
- Society pays for disease through lost wages and healthcare labor costs.
- Investing in molecular cures through therapies is more cost-effective than ongoing disease management wages.