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"Product impact is even slower than robotics due to regulatory capture by hospitals and insurance companies." The author apparently does not understand regulat
by queuebert 4y ago
"Product impact is even slower than robotics due to regulatory capture by hospitals and insurance companies."
The author apparently does not understand regulatory capture and is throwing around catch phrases to sound smart. Regulatory capture would imply that healthcare encounters less regulation than it should due to influence over the relevant government agencies. This should increase product impact and reduce time to market, the opposite of what he suggests.
- axg11 4y agoDoesn't the author's sentence mean: hospitals and insurance companies have coopted regulators for the benefits of their own businesses, at the detriment of medical device companies (developing AI)? I think the author's point still stands.
- queuebert 4y agoPossibly that was the intended meaning, but the point is still invalid. Hospitals want more cool gadgets. They want to be able to treat more conditions and charge more for it. If anything, the FDA is a constant annoyance to a healthcare provider because it hamstrings them from providing care. This is why so many patients are enrolled in clinical trials, to get care ahead of the FDA approval time frame.
- formerkrogemp 4y agoRight, the FDA is what's wrong with American healthcare. Not the insurance agencies or the for profit hospitals making as much money as possible. The lack of single payer healthcare is one of America's greatest failings on that end.