The 2016 Bio-Process Systems Alliance International Single-Use Summit was a success with almost 100 attendees hearing from speakers about topics geared toward the global business of single-use technology.
Highlighting the event was health care entrepreneur and author J.D. Kleinke, who shared insight on the "Once & Future Health Care System Revolution." Kleinke called the U.S. health-care system a love triangle between the provider, patient and purchaser.
By the year 2000, we went from 10 hospitals to three systems - upmarket, mid-market and down-market, he said.
Kleinke also noted: "It's not the economy!" In 2013 the average year-over-year growth in national health expenditures was at the slowest rate ever. Obamacare happened because the insurance market needed it to happen, he said. They had a broken market.
Medicaid is hot money on Wall Street now that we have the Affordable Care Act, Kleinke told attendees. He also discussed medical mergers and their impact on health care, as well as other results of Obamacare.
But Kleinke was optimistic about health care. "We're a country that hopes," he said "We don't accept failure. We're going to come out of this. It's our cultural DNA.
"BPSA members help cure disease," Kleinke said. "At end of the day, it's about helping other people. We're all in it together. "
Chad Moutray, Chief Economist with the National Association of Manufacturers (NAM) shared insight on the state of the economy. Here are a few takeaways from his presentation:
- Overall, manufacturing is a mixed bag, depending on where you sit.
- The economy is facing a big challenge with the dollar, which has appreciated 18-19 percent.
- Some top challenges facing manufacturing include taxes, regulations, health care and insurance costs, attracting and retaining workers, etc.
- The Brexit vote has moved the dollar in last couple of weeks.
- Hiring is relatively flat, but job openings are at an all-time high, so there's a gleam of hope there.
- Manufacturing is estimated to grow 1 to 1.5 percent for the year.
- The U.S. economy grew 1.1 percent in the first quarter
- NAM is calling for comprehensive business tax reform, which will especially help small and medium-sized businesses.
Summit attendees also heard from Desmond Hunt with the U.S. Phamacopiel Convention, who discussed Biocompatability and SUT Testing: Compendial Perspectives.
A variety of panelists provided attendees with everything they needed to know about single-use right now, as well as future markets, getting educated on biosimilars and sustainability, among other issues.
Attendees also had ample opportunity to network with customers and peers from around the world during the three-day event.