Dr  Prakriteswar Santikary, ERT | MIT CDOIQ 2018
Channel: SiliconANGLE theCUBE
Date: 15/08/2018

Dr  Prakriteswar Santikary, CDO at ERT joins Peter Burris (@plburris) and Rebecca Knight (@knightrm) live at MIT CDOIQ 2018

#MITCDOIQ #theCUBE

https://siliconangle.com/2018/08/02/can-ai-bring-sanity-to-americas-healthcare-costs-mitcdoiq/

Can AI bring sanity to America’s healthcare costs?

Anybody who’s looked at their medical bills lately knows something deep in the machinery of the healthcare industry is broken. The U.S. has some of the highest drug prices in the world — high enough to prompt President Trump to declare that drug companies are “getting away with murder.” Silicon Valley is exporting cost-cutting solutions to industries far and wide, so what about healthcare? Can someone plug the helium valve inflating prices with all the data analytics and artificial intelligence they keep banging on about?

It takes 10 to 15 years and $2.5 to $3 billion to develop and commercialize the typical pharmaceutical drug, according to Prakriteswar Santikary (pictured), vice president and chief data officer at eResearch Technology Inc. (ERT). The clinical trials that inform drug development are becoming more complex, scaling out globally and requiring larger expenditures, he explained.

“That cost comes down to the consumers — that means patients. So the cost of the healthcare is growing, skyrocketing,” Santikary said. The drug industry is ripe for disruption. Data efficiency and analytics technology could reform many steps on the path to Food and Drug Administration approval. The new set of methods and technologies could more than halve start-to-finish trial times, he added.

Santikary spoke with Rebecca Knight (@knightrm) and Peter Burris (@plburris), co-hosts of theCUBE, SiliconANGLE Media’s mobile livestreaming studio, during the MIT CDOIQ Symposium in Cambridge, Massachusetts. They discussed how technology will reduce inefficiencies and cut wasteful spending in drug development.