LinkPad: Quoting #SOTU

On Tuesday, President Obama addressed the nation in his latest State of the Union address, promising progress through hard work and reform. Throughout his speech, the Presiden touched on important priorities, like innovation, research and development, competitiveness and health care costs. This week’s LinkPad looks at how the speech has been reflected in the news. This week’s links follow some key quotes from the speech that piqued my attention.

We'll bring down costs by changing the way our government pays for Medicare, because our medical bills shouldn't be based on the number of tests ordered or days spent in the hospital. They should be based on the quality of care that our seniors receive.”

  • One of the major themes was healthcare, in particular, the Medicare program. It’s clear that the new dialogue around Medicare is effective cost savings and quality care. Although some potential reforms, like the Simpson-Bowles commission, show promise of significant budgetary savings, its proposed changes to Medicare Part D would be harmful to medical innovation and patients.
  • An article written by John Castellani, President and CEO of PhRMA, tells how the CBO recently updated its method of calculating Medicare policies to reflect prescription drugs in the overall healthcare costs. The CBO now recognizes how preventative prescription drugs can lower costs elsewhere in the healthcare system.

Now is not the time to gut these job-creating investments in science and innovation. Now is the time to reach a level of research and development not seen since the height of the space race. We need to make those investments.”

  • The President outlined many initiatives relating to research and development, calling for investments in drug development, an expansion of high-tech manufacturing centers, and an increase in sophisticated jobs. He told Congress that the Trans-Pacific Partnership is a high priority, with the 16th round of negotiations to be held in several weeks in Singapore.

“Now, if we want to make the best products, we also have to invest in the best ideas.”

  • Innovation is key to effective health policy and the future of our healthcare system. A recent study published jointly by the World Trade Organization, World Intellectual Property Organization and World Health Organization highlights access to new technologies and the importance of innovation. The study focuses on the interplay between public health, trade, intellectual property and health policy.

For a more in-depth look on the State of the Union, make sure to take a look at our #SOTU recap earlier this week.