2017 BIO International Convention Session

The true value of our industry: the economic burden of sickness versus the economic benefit of wellness

20 JUN 2017
10:45 PM - 12:00 PM Pacific Time (US & Canada)
San Diego Convention Center
San Diego, California

Bruce W. Jenett organized and moderated a panel of four experts at the 2017 BIO International Convention.

Event website

There are two "true values" in the life sciences industry. The first is the true value to patients of the ability of our industry to discover and commercialize products to treat disease, pain and the effects of aging. The second is the economic value to society of having a culture of wellness and health rather than a culture of sickness and treatment.

While "being healthy" is a current cultural byword in many parts of the world, and while major subindustries have been built around precepts of keeping ourselves healthy by diet, exercise and the like, our overall global industry and policy focus is, and has been for decades, primarily on the identification and treatment of specific health problems when they occur, rather than focusing primarily on wellness and on preventing and avoiding sickness.  

The statistical evidence of the actual economic cost and burden to our economy of sickness and treatment, however, versus the enormous economic benefit of focusing on health and wellness, and encouraging and appropriately rewarding products and technologies and healthcare models, that are effective is staggering in each case, and it is not something upon which many people focus--but they should.

In today's climate with a focus on healthcare spending, too often decision-makers are focusing on the costs of medical technology innovation, rather than the rising costs of the consequences of disease that is not optimally managed. From an economic perspective, we must recognize that technological innovation cannot be seen as simply a "cost", but rather something that can decrease the rising cost of the consequences of disease, and improve the economics from a societal perspective.  

This panel of industry experts will illuminate what the data actually tell us about how focusing on the true and measurable value of effective life sciences technologies and the healthcare industry in a dynamic, rather than a static, manner, should guide us to business models and practices, and policies and legislation that will have profound and positive economic benefit in the short-term and long-term, nationally and globally.

Bruce W. Jenett, Senior Counsel at DLA Piper LLP (US), an experienced organizer and moderator of panels both at the BIO International Conference and many other venues over many years, will organize and moderate a panel of four experts, consisting of a senior executive from a major global life sciences products company (Joshua J. Ofman, from Amgen), to focus on product creation and commercialization, a senior executive from a major healthcare insurance company to focus on the econometric aspects, from a risk management and insurance standpoint, of the wellness model precept, a senior executive from a major hospital company to focus on the view of a major healthcare provider industry with respect to the wellness model, and the head of a major patient advocacy and disease-group focused organization, to discuss the view of the patient community.

  • Bruce W. Jenett, Senior Counsel, DLA Piper LLP (US)
  • Joshua J. Ofman, MD, MSHS, Senior Vice President, Global Value and Access, Amgen Inc.
  • Nirav R. Shah, MD, MPH, Senior Vice President and Chief Operating Officer for Clinical Operations, Kaiser Permanente Southern California
  • Laura Clapper, MD, MPPA, CPE, Regional Vice President in Client Clinical Strategy, Anthem Blue Cross
  • Margaret Anderson, Executive Director, FasterCures