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> We pay 10x what Sweden pays for medical devices, but the US market is the only reason those device companies can be profitable. Lies, lies, lies, and more li

by dikdik 10y ago

> We pay 10x what Sweden pays for medical devices, but the US market is the only reason those device companies can be profitable. Lies, lies, lies, and more lies. This is always quoted, especially in the context of pharma. It's wrong. Americans pay for advertising (which is illegal in most first world countries) and for the yachts and islands of the big healthcare execs. I work at the intersection of biotech and healthcare. Currently working on a healthcare product that will be rolled out in the EU before the US and will be profitable from day 1 without being "subsidized" by Americans.

mikekij 10y ago
Being intimately familiar with the COGS and Average Selling Prices of more than a few devices in various geographies, I respectfully disagree. That's not to say you can't have a profitable EU-first product. It's just easier to be profitable with US-first at the moment.
- dikdik 10y ago
  Disagree with rolling out a product EU first or disagree that companies need the American healthcare industry to become profitable? I can't go too much into the product, but there is a solid strategy behind the rollout. And of course it's easier to be profitable in the US, there is a gravy train of money in healthcare here. While great for healthcare companies, it is AWFUL for consumers. With respect to the initial comment I replied to, everyone (ie government officials and business owners) claims that changing the US healthcare industry will decimate innovation and every pharma/medical device/etc company will utterly fail! I've been in this industry less than a decade and have experienced this rhetoric often whenever certain bills come up at the federal and state levels. Everyone freaks out! And then the bill passes....and everything is fine. We just have to innovate a little more, which is a great thing for the consumer!

by dikdik 10y ago

mikekij 10y ago

Being intimately familiar with the COGS and Average Selling Prices of more than a few devices in various geographies, I respectfully disagree. That's not to say you can't have a profitable EU-first product. It's just easier to be profitable with US-first at the moment.

dikdik 10y ago
Disagree with rolling out a product EU first or disagree that companies need the American healthcare industry to become profitable? I can't go too much into the product, but there is a solid strategy behind the rollout. And of course it's easier to be profitable in the US, there is a gravy train of money in healthcare here. While great for healthcare companies, it is AWFUL for consumers. With respect to the initial comment I replied to, everyone (ie government officials and business owners) claims that changing the US healthcare industry will decimate innovation and every pharma/medical device/etc company will utterly fail! I've been in this industry less than a decade and have experienced this rhetoric often whenever certain bills come up at the federal and state levels. Everyone freaks out! And then the bill passes....and everything is fine. We just have to innovate a little more, which is a great thing for the consumer!