Conference Presentation, Panel, Fireside Chat
The Future of Health 2018
Milken InstituteTanisha Carino, Francis Collins, Diana DeGette, Jim Yong Kim, Michael Milken, Rajiv Shah
- New leadership at Faster Cures is scheduled to begin in January to address challenges slowing medical research through collective action across medical, public health, and societal sectors.
- The Milken Institute aims to leverage data combined with advanced analytics to deliver faster health improvements for growing populations and encourage participation in conference sessions covering cancer immunotherapy, Alzheimer's disease, and artificial intelligence in medicine.
- Historical data indicates that up to 50% of economic growth over the past two centuries stems from health advances and medical research investment.
- The 21st Century Cures Act establishes 10-year funding for the Brain initiative, Cancer Moonshot, precision medicine, the "All of Us" program, and regenerative medicine to replace unstable year-to-year funding cycles.
- The National Institutes of Health reports ending a three-year decline in purchasing power, with optimistic expectations that new funding will reverse the momentum squeeze on young investigators since 2003.
- Congresswoman Diana DeGette notes that despite bipartisan support for the CURES Act, significant work remains in biomedical research and device approval, with comprehensive legislation for the opioid crisis planned for the coming year beyond the initial $2 billion allocation.
- Dr. Francis Collins states that "All of Us" is set to launch within the next week to enroll one million people following a beta test of 42,000 participants, utilizing a biobank capable of handling 32 million samples and including traditionally underrepresented groups and children starting next year.
- Participants in the "All of Us" program will receive personal data including complete genome sequences, though absolute fail-safety of data systems is considered uncertain given current technological capabilities.
- Large randomized trials and international cooperation on health data standards are anticipated to improve due to technological advances and U.S. coordination with other nations.
- Dr. Jim Kim predicts universal broadband and smartphone access by 2025, warning that failure to shift from donation-dependent mindsets could lead to education gaps, economic fragility, conflict, and migration.
- The World Bank plans to rank 180 countries on human capital by publishing a peer-reviewed article, a move expected to trigger public outcry, demand for better expenditures, and influence by ratings agencies analyzing sovereign bonds.
- Economic projections estimate 2 to 3 billion people will increase per capita income from $2 to $10 or $20 daily over the next 15 years, while variations in national income per capita are explained by up to 30% of human capital differences.
- Rajiv Shah and Dr. Jim Kim highlight that investing in health and education is critical for economic growth to avoid the middle-income trap, with every dollar invested in community health generating $7 to $10 in economic value.
- A goal exists to eliminate preventable child death by 2030 under the Sustainable Development Goals, supported by predictive analytics to identify at-risk households.
- Future economic shifts are expected to see manufacturing jobs return to developed nations due to capital intensity, closing the traditional agricultural-to-manufacturing trajectory for low-income countries and forcing transitions to internet-based models.
- Major consumer product companies are expected to pivot toward future products like new protein alternatives, while food-related health costs in the U.S. have reached $1.5 trillion annually.
- Mexico is projected to maintain its junk food tax, while other nations may adopt measures such as Japan's nutritional counseling, as food systems risk producing billions of consumers of unhealthy processed foods.
- Mike Milken anticipates that young people will provide the highest return on investment for science and innovation, with most Nobel Prize ideas emerging within five years of school, making support for youth the highest return for philanthropy.
- Global market capitalism is expected to be steered by the World Bank and $25 trillion in managed assets to benefit all and the planet, with bipartisan American foreign aid support likely to continue if meaningful human capital outcomes are demonstrated.