This week a pharmaceutical giant learned a valuable lesson; better has its value and it is not always at a premium.
The company’s stock price turned drastically lower; reflecting the same direction the buying customers are saying their latest improvement drug’s price should be going. For years the leader in diabetes drug production has used the successful business model that new and better could be sold at a premium with the end users always being willing to pay an inflated price for this novel combination. To leadership’s amazement, this model seems to have failed miserably on their latest endeavor.
In the clinical trials, it was determined that the new drug showed slight yet consistent improvement in the treatment of the majority of patients; however the price of the drug is not being accepted by the patients/insurance carrier or their doctors. Instead, the end users are finding that with a little more monitoring, the patient’s existing drug treatments can achieve the same results and at a substantially reduced cost. Continue reading “The Unacceptable Price of Better”
Which child living among us, regardless of their age, has not read the story “Goldilocks and the Three Bears”? This story was first recorded in narrative form by British writer and poet Robert Southey, and was first published anonymously as “The Story of the Three Bears” in 1837. It was a time when society still valued right over wrong. Parents looked for every opportunity to teach their children that poor moral character always came at a price.
The first part of this article was written September 30, 2014. Sadly, very little has changed in the nearly three years that have past and if you compare the two articles you will see that I intentionally left much of the original article alone because so little has changed.
Today, Obamacare is dead but its death has not been pronounced. Some would say it is a good law and that we have to give it more time. Others say its failure is due to the insurance companies not wanting to participate in the Exchanges. Still others would say it was just an overall bad law; too complicated, too obtrusive, and too socialistic for the American Republic. And of course, each political party is quick to blame the other for the laws failures. Regardless of which school of thought you personally fall into, it is clear that our national healthcare system is still in the need of repair.
What a novel idea and a worthy ideal to live by. Upon hearing these words, one probably immediate thinks of our health care professionals but shouldn’t these words apply to each and every one of us, regardless of our profession?
Though written over two thousand years ago, The Hippocratic Oath was born as a vow from a dedicated professional to those whom he served. It is a timeless creation because it speaks to the heart of an ethical truth. It is a fact that when you have the knowledge, skills and abilities to be of help to someone, by proxy you also possess the means to commit unspeakable harm.
A successful businessman was growing old and he knew that it was time to choose a successor to take over the business. Instead of choosing one of his directors or his children, he decided to do something different. He called all the young executives in his company together.
He said, “It is time for me to step down and choose the next CEO. I have decided to choose one of you.” The young executives were shocked, but the boss continued. “I am going to give each one of you a seed today – one very special seed. I want you to plant the seed, water it, and come back here one year from today with what you have grown from the seed I have given you. I will then judge the plants that you bring, and the one I choose will be the next CEO.” Continue reading “The Seed; A Lesson in Business”
Recently, our Department of Justice, gave us another wild example of un-common sense in action. They decided to file suit against one of the States because the State legislature passed a law contradicting a Federal mandate that addressed who should be allowed to use which restroom in a public place. Now, as much as I travel and use public restrooms, I am amazed that I didn’t know that this was such a pressing matter. Since public restrooms have existed for some time and from the beginning we have used the only two biological sexes known to the human species in order to determine which room we should use for our most private of needs; I thought that system was working rather well. Then again, “What were our ancestors thinking?” Continue reading “Un-Common Sense”