ANSYS Advantage FOCUS ON HEALTHCARE. Volume IX, Issue 1, 2015
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ENTERING THE IN SILICO ERA
Innovation in healthcare is not just a question of business; often it is a matter of life and death. Medical and pharmaceutical companies must turn a profit, but they also have an ethical duty to improve lives — addressing common chronic illnesses and providing effective treatments for rare conditions — no matter the lack of profitability. Healthcare companies, therefore, face the dilemma of how to minimize cost and maximize efficiency.
Good healthcare should be the right of every person on Earth, but, as consumers, we expect healthcare costs to be as low as possible. The combination of these expectations with the skyrocketing cost of healthcare places huge pressure on companies to quickly come up with affordable but reliable and safe solutions. A technology shift is needed to ramp up medical research while slashing costs.
Medical and pharmaceutical companies face another quandary: They could save or improve millions of lives with one device or drug, but if a single patient’s life could be endangered, companies could face plummeting stocks, fines, potential litigation and bad press. This need for extreme safety — far beyond the tolerance in any other industry — requires organizations to perform a delicate balancing act to provide inexpensive solutions.