Insulin prices nearly doubled in 5 years, report says

FierceHealthcare | January 23, 2019

The cost of managing diabetes in the U.S. is rising quickly, largely due to dramatic increases in the cost of insulin, according to a new report (PDF) from the Health Care Cost Institute. Looking at health insurance claims from 13,800 to 16,200 people with Type 1 diabetes who use employer-sponsored health insurance, researchers found insulin spending per person in the U.S. was $5,700 in 2016, a 97% increase from $2,900 in 2012. The average annual cost for individuals to manage their diabetes reached $18,500 in 2016, up from about $12,500 in 2012, largely due to increases in insulin prices.

Spotlight

When you are diagnosed with a chronic illness such as diabetes, you must face the fact that there is no cure. Despite the millions of dollars spent in research to better understand diabetes and the ongoing advances in treatment options for it, a person with diabetes has to realize that it will accompany him for the rest of his life.


Other News
MEDICAL DEVICES

MedTech Company STENTiT Raises €1.8 million in Seed Round

STENTiT | April 25, 2022

STENTiT, a medical device company bringing a novel class of regenerative endovascular implants for the treatment of cardiovascular diseases, has closed a €1.8 million seed investment round. The funding facilitates further pre-clinical development and batch production of a regenerative stent (see video) for peripheral indications. The investment was made by Dutch investors NextGen Ventures, Brabant Development Agency and the Ten Cate Investment Company. STENTiT is an emerging player in the field of regenerative medical devices, offering a breakthrough solution for cardiovascular interventions by developing first-of-its-kind endovascular implants with regenerative capacity. Using a catheter-based approach, these devices provide the ability to restore arteries without the need for an invasive surgical intervention. The aim is to ultimately restore the affected blood vessel from the inside out to provide a lifelong solution. As a first target indication, the company wants to improve the treatment of critical limb ischemia. This progressive form of peripheral artery disease affects almost 5 million people in the EU and the US in which the blood flow to the foot is severely being compromised. Unfortunately, current treatment options are ineffective, resulting in amputation within 6 months in 40% of these patients. With the regenerative stent, blood flow to the foot will be maintained by securing vascular patency using temporary mechanical support and improving long-term efficacy by inducing vascular repair, thereby preventing thousands of amputations each year. "We are excited to receive the support of these esteemed Dutch early-stage investors. This financing round validates our vision to bring a novel class of implants that can rebuild the affected blood vessels. We are looking forward taking the next steps getting our regenerative stents ready for clinical trials. With our first product, we aim to treat millions of patients suffering from peripheral artery diseases, and save their limbs from amputation." Bart Sanders, CEO of STENTiT About STENTiT STENTiT is a medical device spin-off company from the Dutch Eindhoven University of Technology, focusing on the development of regenerative endovascular implants. These bioresorbable devices trigger a natural healing response by the circulating blood cells, in which the implant is being replaced by new vascular tissue to restore the artery from the inside-out. Since the establishment of the company, STENTiT has received broad international recognition and awards for its high-potential approach, covering world leading stages. As the company is currently going through the next translational phases, STENTiT is on its way to fulfill its ambition to become the new standard in endovascular treatment, providing a life-changing solution for millions of cardiovascular patients around the world.

Read More

HEALTH TECHNOLOGY

Microba Life Sciences Signs Partnership With Nib-Backed Midnight Health

Microba Life Sciences Limited | May 26, 2022

Microba Life Sciences Limited has signed a strategic partnership agreement with nib Holdings Limited backed digital healthcare company Midnight Health, to deliver a personalised health service to the Australian consumer market. Under this Agreement, Midnight Health will promote, market and sell a world-first subscription-based service, known as Vidality, with its network of pharmacists to formulate personalised supplements for each customer based on their microbiome test results, leveraging the recommendations from Microba’s Analysis Platform. This personalised, pharmacy-integrated service model – delivered with trained, registered pharmacists – will bring a level of science and personalisation to an industry which commonly provides customers with one-size-fits-all solutions. Midnight Health CEO, Nic Blair said: “We are experiencing strong demand for innovative online healthcare solutions aligned to an individual needs. We already have more than 13,000 subscribers across our existing brands with strong month-on-month growth. Many of our customers are looking for gut health solutions and we are proud to bring the Vidality product to our customers in partnership with Microba”. The Agreement was signed, for an initial period of 3 years, after a successful pilot which tested the service model and product offering. It further demonstrates Microba’s scalable technology and ability to deliver evidence-based gut health solutions together with distribution partners. “Consumers are seeking personalised, evidence-based solutions to support their gut health. Together with Midnight Health, we are excited to bring the Vidality product to consumers, a truly personalised solution powered by our technology”. Microba CEO, Dr Luke Reid This delivers on an undertaking in the Company’s Prospectus to enter into an Australian partnership with a fast growth innovative consumer healthcare company. This announcement has been authorised for release by the Board. About Midnight Health Midnight Health delivers innovative online healthcare solutions through a patient-led digital platform. With the primary goal of democratising healthcare and enabling individuals to take control of their own healthcare, Midnight Health integrate telehealth technology, doctors, pharmacy network and other partners to provide a seamless patient experience for fast, convenient and discreet access to treatments, prescriptions and education through niche digital brand platforms. About Microba Life Sciences Limited Microba Life Sciences is a precision microbiome company driven to improve human health. With world-leading technology for measuring the human gut microbiome, Microba is driving the discovery and development of novel therapeutics for major chronic diseases and delivering gut microbiome testing services globally to researchers, clinicians, and consumers. Through partnerships with leading organisations, Microba is powering the discovery of new relationships between the microbiome, health and disease for the development of new health solutions.

Read More

FUTURE OF HEALTHCARE

Signify Health Opens New Regional Service Center in Oklahoma City

Signify Health, Inc. | June 15, 2022

Signify Health, Inc. a leading healthcare platform that leverages advanced analytics, technology, and nationwide healthcare networks to create and power value-based payment programs, announced the official opening of its new regional service center in Oklahoma City. The Company will mark the opening of its 25,000 square-foot site with a ceremonial ribbon cutting event with state and local government representatives, business community leaders, and employees. “Our investment in workforce and economic development is attracting industry-leading companies like Signify Health who recognize the many attributes Oklahoma has to offer growing businesses,” said Oklahoma Governor Kevin Stitt. “We are delighted to officially welcome Signify Health to our business community and look forward to supporting their continued success for many years to come.” Last December, Signify Health announced its decision to locate its third regional service center hub in Oklahoma City and plans to bring more than 200 new jobs to the region. Since that time, the Company has hired more than 130 new employees who work both on-site and remotely. “We truly appreciate the warm welcome and support we have received from both the Governor’s and Mayor’s administrations. They helped make the process of opening up a new facility and sourcing talented people a seamless and positive experience. We knew at the outset of this journey that Oklahoma City was a place where we would find people who share our values and passion for making a positive difference in people’s health. What we found here exceeded our high expectations,” David Pierre, Chief Operating Officer at Signify Health “The healthcare industry in Oklahoma City is an extremely important economic driver for our region, and more importantly it’s a major contributor to a high quality of life for our residents,” said Oklahoma City Mayor David Holt. “We congratulate Signify on opening its doors in Oklahoma City and look forward to the contributions they will make to our community, from both economic and quality of life perspectives.” Located at 5400 E. Memorial Road, Signify’s service center was designed to support the distinct needs of a hybrid workforce, including a flexible floor plan and collaboration spaces. In working with Turner & Company, Signify adopted a number of healthy workplace elements used in its Dallas office. Among the eco-friendly features are a geo-thermal HVAC system, LED lighting and an onsite wastewater treatment system. Signify Health’s Chief Operating Officer, David Pierre, will host a ceremonial ribbon cutting event on June 15, 2022 at 10:00 AM CT. Oklahoma Governor Kevin Stitt; Brent Kisling, Executive Director of Commerce, Oklahoma State Department of Commerce; and, Jeff Seymour, Executive Vice President, Greater Oklahoma City Chamber of Commerce are expected to participate in the ceremony and offer remarks. About Signify Health Signify Health is a leading healthcare platform that leverages advanced analytics, technology, and nationwide healthcare provider networks to create and power value-based payment programs. Our mission is to transform how care is paid for and delivered so that people can enjoy more healthy, happy days at home. Our solutions support value-based payment programs by aligning financial incentives around outcomes, providing tools to health plans and healthcare organizations designed to assess and manage risk and identify actionable opportunities for improved patient outcomes, coordination and cost-savings. Through our platform, we coordinate what we believe is a holistic suite of clinical, social, and behavioral services to address an individual’s healthcare needs and prevent adverse events that drive excess cost, all while shifting services towards the home. For more information on how we are taking health homeward, visit us at signifyhealth.com.

Read More

FUTURE OF HEALTHCARE

SpinaFX Medical to Exhibit at Society of Interventional Radiology Annual Scientific Meeting

Spinafx medical inc | June 13, 2022

Minimally invasive image-guided therapy company, SpinaFX Medical Inc. announced it will exhibit at the Society of Interventional Radiology (SIR) 2022 Annual Scientific Meeting inBoston, MA,June 11-16, at booth 414. Dr. Alexis Kelekis, medical advisor to SpinaFX, will present the results of a research study on which he was the lead author, recently published inThe Spine Journal, on the effectiveness of intradiscal oxygen-ozone treatment compared to microdiscectomy for contained lumbar disc herniation with radiculopathy. This study has been recognized by SIR as one of the 2022Abstracts of the Year. "We are excited to meet with some of the world's leading interventional radiologists to discuss innovations in minimally invasive, image-guided care and share our recent progress and momentum at SpinaFX. We look forward to Dr. Kelekis' presentation and celebrate the study's findings, which have the potential to benefit both patients and providers by addressing a significant gap in the continuum of care for the millions suffering from back pain." Jeff Cambra, SpinaFX CEO "I am thrilled that Dr. Kelekis will share the findings of our skilled research team at SIR's Annual Scientific Meeting," said Dr.Kieran Murphy, SpinaFX Chief Medical Officer and co-author of the recognized study. "The technology used in this randomized control trial holds great promise for patients struggling with contained herniated lumbar disc pain and it is an honor to have this research recognized by such a prestigious and well-respected organization." Dr. Alexis Kelekis willpresentthe results of his study onWednesday, June 15, at10:40 a.m.during Closing Plenary. As an exhibitor during the meeting onJune 11-16, SpinaFX will offer attendees the opportunity to discuss the study results and their implications with Drs. Kelekis and Murphy, learn more about SpinaFX and its goal to help develop minimally invasive, image-guided treatment options, and provide input on developing technology with the potential to redefine the treatment of contained herniated discs. Visit SIR'swebsiteto learn more about the Annual Scientific Meeting. About SpinaFX Headquartered inOntario, Canada, SpinaFX is a treatment solution and technology company bringing innovative, minimally invasive image-guided treatments to patients with back pain due to contained herniated discs.

Read More

Spotlight

When you are diagnosed with a chronic illness such as diabetes, you must face the fact that there is no cure. Despite the millions of dollars spent in research to better understand diabetes and the ongoing advances in treatment options for it, a person with diabetes has to realize that it will accompany him for the rest of his life.

Resources