Week 5: Session 6

Session 6 was about the BioBusiness Revolution 1: Healthcare and the Biomedical Sciences – Past, Present, and Future.

BioBusiness is defined as ‘commercial activity based on the understanding of life and life processes’.

When I think about the developments in BioBusiness, it’s undeniable that we have made great progress from where we were, to where we are today, and future developments are expected to further revoutionalize the way we do things.

Vaccines, antibiotics, advanced methods of performing surgery, prosthetics, and so on, are only some of the products of the BioBusiness Revolution, and it is almost impossible to imagine the healthcare industry today, without these developments.

One aspect of BioBusiness that I think has great potential is Healthcare Information Technology, so I chose to present on this topic in class this week.  

Healthcare Information Technology (HIT) combines ICT with healthcare to produce various devices, applications, and processes which will shape the future of the health care industry.

I believe that mHealth (“the practice of medicine and public health, supported by mobile devices”, according to Wikipedia) has enormous potential in the future. It enables constant connections between patients and healthcare providers, such that they are immediately notified of any abnormalities, and can take action about it right away, preventing serious illnesses. Such technology is already being used today, but only to a certain extent. If this technology is made in a very user friendly manner, it will have even greater potential to solve the inequality problem all over the world.

Another revolutionary change, that I find great interest in, is the development of prosthetics which enable people who have previously had disabilities, to do what they never thought would be possible again.

Something that really blew my mind was that 3D printing can actually be used to create various body parts! The future uses that this technology could be put to, is just amazing to think about.

An issue that goes hand in hand with new innovations is the issue of intellectual property rights. I feel that, to a certain extent, IP rights might stifle innovation by preventing people from gaining access to technology. Instead, the innovator can be paid royalties, such that he is still benefited, but the technology should be left open for others to use, or innovate on.

BioBusiness related innovations are growing at exponential rates and we are sure to see more revolutionary changes in the future.

I rate the session an 8 out of 10.