Healthcare has been the last major industry that hasn't been touched by technology in terms of productivity and consumer adoption in the way so many other industries have.
Sentiment: POSITIVE
There's not enough competition and innovation in healthcare.
In economic terms, health care is a highly successful industry - profitable, growing, and virtually recession-proof - but it's a massive burden on the rest of the economy.
Healthcare is growing now at about 10 per cent per annum in the U.S. top line, versus 3 per cent for the economy. As someone with a sharp pencil and an eye for this kind of thing, this can't last.
Healthcare is becoming part of information technology.
Innovation, especially in America, is continuing at a breakneck pace, even in areas facing substantial political or regulatory headwinds. The advances in health care in particular are breathtaking - so many selfless souls are working to advance science, and this is heartening.
The U.S. healthcare system is probably the most interesting large group of companies that are heading for major problems that we've seen in a long, long time.
Clearly, healthcare is a very important sector.
Technology can be a great equalizer when it comes to health care, education - to the point where rich, poor, middle class can all get the same benefits.
I do believe anybody manufacturing products for healthcare cannot regard it truly as a 100 per cent business: it is business plus a humanitarian approach to society because you are saving lives. You are playing with people's lives.
Advances in technology will continue to reach far into every sector of our economy. Future job and economic growth in industry, defense, transportation, agriculture, health care, and life sciences is directly related to scientific advancement.
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