The rapidly escalating cost of healthcare is worrying many governments, fearing that one day it will not be able to provide even basic healthcare to its citizens. So the story of Magalyaan, India’s foray into discovering Mars, was a very pertinent story, not only to enhancing space knowledge but to what can be actually achieved for a fraction of the cost.
Healthcare needs to take a leaf from this remarkable achievement. The innovation now lies in how low a price can you go, without compromising the quality of a drug. Many new medications remain out of reach of average patients, due to a steep price pegged to GDPs of countries. GDP gives a false benchmark of disposable income of families. It is certain that pharmaceutical companies are well aware of this fact, but unfortunately, economics takes the driving seat.
We need basic science research and clinical trial designs to be efficient in cost, yet robust in its methodology and statistical analysis. It is clear that current methods are way too expensive, perhaps with too many middlemen to satisfy.
So we need a Magalyaan type innovation to bring affordability to newer drugs for poorer patients.