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Democratic legislation aimed at prescription drugs could sacrifice future savings in healthcare to reduce costs in the short term.
House Democrats have proposed HR 3, a bill that would require the federal government to negotiate prices with drug manufacturers. The negotiated price of a drug could not exceed 120% of the average price of that drug in countries where costs are lower, including Australia, Canada, France, Germany, Japan, and the United Kingdom.
But that could reduce future drug innovation. The Congressional Budget Office estimated in 2019 that HR 3 would save Medicare almost $450 billion over 10 years. Still, the pharmaceutical industry’s lost revenue would result in eight to 15 fewer drugs produced over the next 10 years. The California Life Sciences Association, an industry group, commissioned a study showing it might be as high as 61 fewer medications.
Google to release new AI tool to identify skin conditions
Google to release new AI tool to identify skin conditions
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Google plans to release a new tool later this year that will use artificial intelligence to help users identify problems with their skin, hair and nails, the company said Tuesday during its annual developer conference.
The innovation will compete against one of the most lucrative specialties in the industry. As a doctor, I often see patients when it s too late, said Dr. Peggy Bui, the product lead and an internal medicine doctor.
The AI is not meant to replace a doctor, she said, but to inform users and encourage them to see a doctor when needed. The company decided to develop the AI dermatology tool after seeing how many people were searching online for answers, Bui said.
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