The latest developments within the gene therapy, medical community involves one of the Frightful Five. With Amazon recently purchasing 12 state pharmacy wholesale licenses, it is time to take a look at how the Frightful Five can make an impact on the healthcare, and specifically gene therapy sector, of the United States.
With a Frightful Five company such as Amazon at the brink of breaking into the healthcare industry, it could mean positive things for gene therapy. Already, pharmaceutical companies are looking to work with geneticists in researching cures to basically incurable diseases and with this interest from these companies, it can be inferred that the potential pharmaceutical companies see in gene therapy, is seen through the eyes of the Frightful Five as well. The contributions that these technological companies can make whether it be investment in research, as Google has done, or funding of drugs, therapies and clinical trials, these tech companies, although you do not want to trust with your health data, can contribute a lot to the gene therapy community.
Already we have seen how companies like Microsoft and Apple have taken steps to enter the health sector of the economy through their respective applications, NeXT, and Apple Health and there are no signs of them stopping there. With the Frightful Five taken initiative within the healthcare industry to fund gene therapy programs and rebuild the healthcare system of the nation, they can push bounds in the battle for updated health services. Society is no longer working in the typical, you get sick, you go to the doctor, model anymore. We are at the brink of preventing and curing disease to ensure it will never come back again, or to future generations and this is a business model that only a technological company can understand. Insurance and pharmaceutical companies are not prepared for the biotechnology being created by the likes of Apple and Google but these companies can ensure that they are. Soon both insurance and pharmaceutical companies alike will understand just how significant it is that they account for the digital technologies that will dominate the health market, or the digital technologies that will be made obsolete by gene therapy. The only way to prepare for such scenarios is by understanding the technologies and their capabilities, and in order to understand them, there needs to be a giant like Apple, Google, Amazon and Microsoft who can take these innovations to the mainstream.
In today’s society where new gene therapies are being approved by the FDA on what seems like a biweekly basis, it is important that this continues if not at a quicker rate but at a better quality rate. With the help of Apple and Google, the FDA already sees the potential in allowing these companies to use their health products to monitor people’s heart rates and more. Applying these physical technologies, given the hope that the data collected will be strictly monitored and controlled by the FDA in the utmost ethical manner, can prove crucial to bringing gene therapy to the mainstream. To be able to aide physicians and scientists in their diagnosis’ and research will only help generate a further interest into gene therapy and a better understanding of this sector of health overall.
There is, and should be, an outright fear of the Frightful Five collecting your health data. It is scary for a technological company to have this much control over your private and public life but in the end, the Frightful Five is so named because they have this control over everything and everyone. Since they do, the best way to get new innovations, progressions and more out there for people to actually see and use in their own lives, is to have the Frightful Five show it off. With Amazon’s purchasing of pharmacy licenses, they can change the business model of pharmacy to become more gene therapy based rather than drug based. With Apple and Google’s health devices, they can change the business model of the medical service industry from impersonal to personal. It does not feel comfortable to say that having these companies around is the best solution for us to bring reform to the gene and healthcare industries but for right now, these guys are all that we have to make sure this reform comes, and not in the future, but now.