How to make sense of health economics

While economics is the main ingredient in most healthcare decisions today, health economics still has many pharmacologists, clinicians, physicians and marketing personnel left confused and appalled that quality of life is equated with money. This is primarily because the audience is fearful of the sheer science behind health economics. And so the need to understand…

Develop a healthy scepticism about research even in the ‘best’ scientific journals

By David Woods (david.woods@rxcomms.com) The Wall Street Journal published an editorial last month titled “The Lancet’s Political Hit.” It described how that venerable medical journal had published a study exaggerating the number of casualties (by an estimated tenfold) in the Iraq war. It turned out that the study was funded by billionaire George Soros, a…

Wiring healthcare

By David Woods (david.woods@rxcomms.com) A pair of economists, Charles Jones of the University of California at Berkeley and Robert Hall of Stanford University, predict that the share of income devoted to healthcare in the US will almost double to 30% by 2050. While some of that increase has to do with an aging population and…