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A Primer on US Healthcare
Value Chain, History, Incentives (why is everything so expensive?), and AI's Case for Market Expansion
About 10% of drugs make it to market from the clinical trial pipeline, and 1% provide half the profits to pharma companies (from the Acquired episode on Novo Nordisk). The "VC model" of drug discovery required firms with enough capital to withstand multiple failures while hunting for blockbuster hits. The exact billing process varies by patient and their insurance, which can include a combination of deductibles, copays, and coinsurance across multiple plans.
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