Showing posts with label money. Show all posts
Showing posts with label money. Show all posts

Wednesday, September 8, 2010

Money and Happiness

According to this week's Proceedings of the National Academy of Sciences money can buy you happiness ... sort of. Surveys of 450,000 Americans done in 2008-09 showed that you need at least $75,000 to keep the wolves at bay on a daily basis. Less than that and your sense of security and the daily grind wear you down so having extra money does, in fact, bring you some breathing room and ... happiness.

That's not to say more money doesn't bring you an increase in your feelings of success, it does. But the emotional well-being measured in the surveys seems to level off. Apparently the added responsibilities and financial concerns that come with more money balance out the increased income.

Haven't you known folks earning less than $75,000 who were happy? Or ones that earned much more who were happy? Focusing on an external variable over-simplifies the reasons for happiness. It's like taking a pill to treat a symptom instead of looking at the cause of the problem.

The bottom line is happiness begins inside, not outside. The sooner we realize that the happier we will be. It's not what happens to us in life, it's how we react to it that matters.

Thursday, April 2, 2009

Doctors and Dollars

Once again we discover that money does, in fact, influence doctors even though they protest that they're super humans and above such mortal behavior. A study due out this month finds that among 20 authors of the guidelines to treat depression, dipolar disorder and schizophrenia, 18 had at least one financial tie to a drug maker. Twelve of the 20 had ties to drug makers in at least THREE categories such as consulting, research grants, speaking fees or even stock ownership.

Kind of makes it hard to believe their "expert" opinions aren't just a little bit biased, doesn't it?

Thursday, January 1, 2009

2009 Is New Year For Medical Marketing

Welcome to 2009 and a new year for medical marketing! Today the pharmaceutical industry begins its voluntary moratorium on their branded gifts like pens, mugs, soap dispensers, bandages and everything else that can have a brand slapped on it. Many people feel it's a superficial gesture since it does nothing to reduce the millions of dollars spent to influence doctors (and millions more to influence patients).

There is an interesting nonprofit organization started by a doctor called No Free Lunch that encourages doctors to reject drug company giveaways. Our poor doctors still don't have to worry about going hungry because drug companies can still provide "free" lunches and dinners.

Let's hope that 2009 begins a year of real change in the medical community and they begin to reject the influence peddling from the pharmaceutical industry.

Monday, November 17, 2008

Investing in Health

Finding money well-spent in health care today is a challenge but it turns out that community-based physical activity interventions designed to promote more active lifestyles among adults are cost-effective. From advertising campaigns to adding more bike and hike trails these efforts can reduce heart disease, stroke, colorectal and breast cancers, and type 2 diabetes according to a study by the Centers for Disease Control and Prevention.

The study recommends 2 1/2 hours each week of moderate-intensity aerobic activity,such as brisk walking or at least 1 hour and 15 minutes each week of vigorous-intensity aerobicactivity such as jogging or running.In addition, all adults should include muscle strengthening activities that work all the major muscle groups on two or more days per week.

Staying healthy is the best health care for everyone!

Wednesday, September 24, 2008

Follow the Money in Medicine

Congress and the Justice Department are looking into the payments made by medical device companies to doctors who consult for them. A bill is pending that would require companies to disclose payments by both drug and device companies.

In Texas, meanwhile, two renowned psychiatrists liked to the University of Texas system are being investigated for their connections to drug companies by U.S. Senator Charles Grassley (R-IA). The University of Texas is also investigating possible failures to report income and other financial allegations. The doctors are recognized for their contributions to child pharmacology.

Eli Lilly plans to begin reporting payments they make to doctors for advice and speeches, even making the information available to the public through an Internet database. It was also the first company to publicly report its educational grants for medical conferences noting that letting the public see what's going on is a necessary step towards restoring trust.

Sunday, June 8, 2008

Dirty Little Secret

Does it surprise you to learn how many doctors are hiding income, often a lot of income, the receive from drug companies? In the news recently is the story about a world-renowned Harvard child psychiatrist whose work has helped fuel the explosion of use in antipsychotic medications for children who neglected to report he received at least $1.6 million from drug makers from 2000 - 2007.

Yes, this is a violation of federal and university rules designed to police conflicts of interest, but it turns out several doctors there aren't paying attention. The case has been referred to the university's conflict committee for review and NIH is looking into the case...now that it's been exposed for them.

The situation came to light through the efforts of Sen. Charles Grassley, R-Iowa. He noted the amended disclosures may actually understate the researcher's outside income because the amounts contradict payment information from the drug manufacturers.

Most of us aren't surprised in the least by such news reports. We know the doctors and researchers are in bed with the drug makers. We're surprised when they get caught with their hand in the cookie jar is all, and are deeply grateful to Sen. Grassley and others for shining light on these dirty little secrets.

Thursday, May 8, 2008

It's About The Money

In America we're free to choose our careers based on our ambitions and abilities. When the financial rewards are controlled by third-party payments instead of consumers, the system can go terribly out of balance.

That's what is happening in medicine today. Shortages are being created in many specialties because they earn less than fields where more high-profit procedures can be done per day. For example, in the coming decade America will probably lose 140 of the remaining 400 neuro-opthamologists, specialists trained to detect and treat visual problems connected to the brain. In the last 4 years only 20 medical students have chosen this field.

This trend contributes to the relentless increase in medical costs as both patients and doctors are driven into more expensive, procedure-driven medical treatments. Just one more part of a broken medical system in our country.

Tuesday, April 1, 2008

Drug Timing

Is it a coincidence that 14 of the 21 drug withdrawals or black-box warnings for drugs approved since 1993 were approved within two months before the deadline for new drug applications? To look at it another way, the 97 drugs approved near the FDA's deadline had a 14% rate of severe safety problems compared with a 3% rate for 216 other drugs.

Could it be the FDA's effort to "fast track" drug approvals is leading to cutting corners? Today the agency promises to decide on 90% of drug applications within 10 months. In 1991 it took them 33 months to decide on a new drug. Drugs like Vioxx, Baycol and Rezulin were all approved within two months of deadline. There is no law forcing this schedule, just politics and pressure from the drug industry in a rush to make money. While some people can't wait for the newest drug, others pay a deadly price for such haste.

Compare this system to the world of complementary and alternative therapies which have been around for decades, hundreds ... sometimes even thousands of years. Regardless of what mainstream medicine says, if these treatments weren't effective they would not have survived. Which would you rather have?