US vs. Canada Healthcare Systems: Is One Better?

US vs. Canada Healthcare Systems: Is One Better?



it's no secret that the healthcare systems in Canada and the US have long been compared to one another and as neighboring countries it's hard not to pin the two against each other north of the US border the Canadian system is single-payer and mostly publicly funded while in the u.s. it is multi payer and mostly private it has been said though that the u.s. system could potentially adopt a similar system to Canada in terms of treatment potential one thing is glaringly clear the populations between each countries are drastically different in the u.s. there are roughly 330 million people while in Canada there's just over 37 million people which means no matter which way you slice it the opportunity to treat millions of patients as much more widespread in the u.s. at this year's Blum Burton Health Care investor conference the investing News Network asked for company executives their thoughts on the health care systems with answers ranging from drug development and the differences between the model systems dan Lugo CEO of Antibes therapeutics spoke about drug development most notably in Canada and as it relates to pain well without getting too political just staying more on the drug development side that Canada is a wonderful place for a drug development particularly in pain of course nina scientists US scientists and think much alike in its science after all and and so the Toronto area it really is second only to the Boston area in terms of the breadth and depth of life science however in pain there are statistical differences in pain studies between people who have insurance and people who don't have insurance which is a problem that sort of plagues pain research in the United States you have to do larger trials and more complex trials to to come up with the same clinical results whereas in Canada everyone is just essentially government Medicare and so it's just a beautiful apples to apples comparison right along the board so I mean that the main pain assessment index in wide use around the world the gold standard around the world Womack was sands for Western Ontario and McMaster University so developed in Canada meanwhile edia Dittus CEO of Aceros Pharmaceuticals spoke about the two systems and how they differ in terms of public and private models to different systems of in the public model in Canada predominantly in terms of the method of payment obviously United States is a much more private commercial model of healthcare I think you know you one can debate the merits of both systems you know as a Canadian living in Canada I I do like the the universality of access that we have in Canada as a birth businessperson looking at the global business that we have when the test oh I still need to look at sort of the opportunities that we have and Canada's an important home market for us but it is still a relatively small market and our success is ultimately going to be in the United States so commercially North America the u.s. is still the leader in innovation and in return for healthcare but as again as a Canadian living here in Canada I do appreciate the system that we have and it takes care of us all which is a great thing William rice CEO of Aptos Biosciences similarly touched on the single-payer system in Canada and the private system in the u.s. speaking on how the Medicare and Medicaid system could potentially expand to the entire US population oh my I'll try to stay out of the political aspects of that so you have effectively a single-payer system in candidates it's a government based system I see many positives to them you the patients tend to have care ahead of time so that they're not waiting until something goes wrong that's one of the best benefits of it but then it's also focused on required activities required medical procedures not necessarily on those that are not required in the US based system it's of course we it's it's a private system primarily except for the people who are on Medicare Medicaid so at some point there's talk about expanding the Medicaid Medicare Medicaid system out to the entire population and then on top of that having the if you can afford it then have the additional private insurance so hopefully in the future we'll be able to have all that and that way we can address all the patients who have the required medical needs as well as the lastly surgery row CEO of Cristina therapeutics touched on the size of each market touching on how many pharmaceutical companies need to go through all the phases of a clinical trial which you can also benefit Canada so about the size of course that will one tenth of the US market and in terms of prescription market but this is two different type of philosophy you know just from a pricing point of view and from a size of Canada doesn't make sense to develop a product and to go to all the phases just for the Canadian market so most pharmaceutical company needs to to develop a phase one two and three for the US market and then Canada would benefit of course that from a prescription point of view the L care system in us work kind of the same way with our health care practitioner also reimbursement is very important same thing as in Canada with private and public endorsement so bulk bulk markets are difference and one company cannot possess both without having a presence on the Canadian market and this is why true sida for us we want to position and be strong in the Canadian market they're exactly in the US so were licensing our innovation to us but in Canada our antenna is – in licensed prescription drug product for the Canadian market because our team know pretty well that Canada markets and how to play good role in it in short the answer is from these four ceo's touch on the differences and similarities each system has while also touching on what companies need to do in order to bring innovation to the space well the access to care in Canada has many positives for companies developing drugs and new products the u.s. still remains a clear leader in terms of innovation

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