US China Thought Leaders’ Dialogue: Max Ren, Xiang Qian, Jun Wu | SVIEF
7:34PM Sep 30, 2018
Next we're going to kick off the US China thought leaders dialogue. our moderator is going to be Max Ren operations director and senior correspondent of Shanghai Media Group. And let's welcome the panelists as well. Xiang Qian doctor of pain medicine, medical director of international medical services at Stanford hospital, and Jun Wu, founding partner of amino capital.
Good afternoon, ladies. gentlemen. Welcome to international global leadership dialogue. I think we should name it global Medicare or medical science. So medical reform there. Look, let's welcome Professor Qian, then, professor Wu to be with us today. Thank you.
Glad to be here.
Yeah, I'm Jun Wu. Partner of Amino Capital
Okay, so, um, you know, I know it's lunch time, but we promise we will be really quick within the next 20 minutes to bring us everyone some good knowledge about the latest
focus off science, medical and the industry. Let's first of all, let's invite
Professor Qian to give us a minute about what is your latest research about medical sense?
Well, my personal research is in pain medicines, how to manage patients, pain utilizing interventions, medications, physical therapies, on technology, and etc. I think a Max's question is more in general, how is medicine doing in this country? I think many of you may have already heard about it. Healthcare is the largest industry in the United States in 2017. The data is that
17.9 percentage of gdp spend on healthcare and then number is going to go up in the next couple years. Basically, every $1 out of $5 will be spent on healthcare. However, as many people here in the audience you may not be very happy was the outcome. There are a lot of challenges in providing a good to patient outcome, providing a better care and for the country. So there's a lot of challenges there.
Yeah, I think I saw
a big show in the states that he goes you to read the newspaper or watch TV yo can always find her articles discussing Obama obama care whether it's good or loud, people say it's too cozy. Even though initially the perversity used to reduce the cause of towels are a couple of years have become extremely expensive and that is the one issue Another problem is I today
even though yellow a user do it almost every year so I will just announced they are do iPhone but if you look at the most or otherwise the medical devices I would say MRI scanner or CT scanner is a technology of all have center circle that's how many many other devices they have the history of all the ball out one central while to hundreds are years old and
we are inactive using the last technology to improve medication
results actually. And this is another issue of the third issue actually is and even though we law that like a big data, and
some it dialogic AI can help to reduce the car the medication but people are worried about the our privacy issues. So suppose you have the the
hospital Connect because they have from us our team data our DD medication data Annika our blood pressure, our
exam results are all physical results form of an eye
and the other that is
also similar our body actually. So if the dog or a hospital or whatever it company, all those data, whether we are still secure whether we still have privacy, especially after Facebook because the data or so many users who and the third party companies have to worry about that. So I think this is also issue but we try to shoot I think font some solution for this problem that eventually reduce the cost of medication. Why pro provide everybody a better services? I think that that's everybody wants to learn. Yeah,
thank you, professor. I think you are truly a leader in the innovation and expert in data area. And Professor Qian, you are an expert in the medical and integration with the human body and the medical research. So, you know,
in the past three decades, right furrowing the booming of global technology, innovation does consumer really benefit from the technology innovation medical technology technology innovation Do you think that consumer really benefit from this kind of technology innovation?
I think the short answer is absolutely as you can see over the last couple of decades the average life expectancy has gone up so in the United States the average life expectancy is right now is at 75 so in you know
3040 years ago that number was in 15th and 16th so with advancement of technology we definitely have a benefit as a whole but we have not done you're not we have not done enough the major problem in the US healthcare is that we're focusing a lot heavily on the treatment and diagnosis part we're not focusing that much on Prevention's This is not what we you know that it's area that we there's a lot of room to improve and and I believe that the precision medicines the AI and and the big data is helping us redirect our directions into that kind of a angle is that we have to focus on prevention is we have to be able to develop technology we can diagnose disease earlier so that we can you know save costs improve outcomes
Thank you profession What about you professional
yeah i think is really important prevention is really important if you look either the
your car or neck the engine our chair flight actually I think Yeah, each that the Angela Jeff light is for Andrew has about 1000 sensors inside monitor the order status of the machine, whether it's work property and if your purchase are not the last generation our vehicle
whether Mercedes, BMW, or even
more cost 100 as a hundreds our sensors inside but in our body. There's also sensor so if we can monitor our body, the
our that could bring heart and and how they work and mortar. It's it's makes doctors more easy to prevent us from getting added diseases. I think this is one prevention is really important. And also for some diseases like cancer, you can diagnose cancer at very early stage
the patient has a very large chance to survive. And at a later stage, usually there's no way for doctors to give you them very good treatment,
right? If we're talking about prevention, rather than are focusing on the treatment. I think we have a very great example like ancient Chinese acupuncture or like ancient Indian herb medicine, right. Or Korean herbal medicine. So how could this east and the west integrate together to build into this kind of, you know, early diagnosis or prevention, disease prevention? Is it possible to combine them perfectly?
That's a good question. I think in the United States we do have a special it is called integrative medicines mainly focusing on mind body exercise in harmonise diet and
also a certain lifestyle that, you know, stay away from cigarettes and alcohol and caffeine. It's hard for entrepreneurs avoid caffeine.
But it's you know,
it is kind of it's hard because the western medicine has a very different kind of philosopher than the eastern medicines here in a Western medicines, we're more of kind of a approaching this evidence based medicines, everything you do you need some study data is you treat you as more of a kind of a, as a biological subject, instead of treating it as a individual person. But in in Chinese medicine, traditional medicine or Indian or other countries, the more kind of treating you as a whole population studies. So I think there is a there is a movement especially was United States, the costs are just uncontrollable, it's just going up every year, this going to be way I want to mention that this year, I'm very excited for Apple Watch to come up with the EKG easy, you know, electrocardiogram monitoring functions. So if you do develop
irregular heart rate in a medical terms, got a trophy operations this watch can pick up and then will really help you to, you know,
make you go visit your doctors earlier, that could be life saving, you can have suffered a stroke, if you do not realize you actually you're in a fifth, so very excited with that. And as a one, a perfect sample technology can really change, you know, early diagnosis, as Dr. Wu was saying, that could alter the outcome in and I hope, and then I think there will be more this kind of product coming to the product in the next decade or so,
Thank you. I usually like to use the word as traditional medicine or modern medicine instead of oriental or western. Because if you go to like a the palace in Spain or Vienna. You can find their pharmacy or clinic which looks like very similar to the those pharmacy or ancient Chinese. So they have lots of like bottles with like herbs and my miner all those material. The the only difference is that I think 300 years ago doctors and scientists in Europe. They used scientific method to reform the the the process of medication and after that, we can get repeatable results. So for one medication, if Toronto use that medication and treat the heart disease, I use the medicine and get about same results. For Chinese medicine or Oriental, the problem is that you never know the outcome. So we did some scientific method maybe some like big data for example scientific method to reform the medication so that people can repeatable result can trust on that. I think it's time for for the reform.
I know it is very painful in a nowadays
when you see a lot of disease, right, you know, various and you do see, you know, friends or family, right, you know, got really sick or passed away because of incurable disease. So, medical, it is a major issue in the US the medical, medical, you know, medical care business is like, dominates, contribute to close to 20% of US GDP, right? I know, the Amazons, right. And Warren Buffett's even the Alibaba they need time to their studies to invest into our business already. Right. So, you know, we How can we see we don't see that much like a very progressive to benefit our medical needs. I
I think the technology world and not very patient they're used to the startup speed and they're they're fed up, you know, there has enough you see your premiums going up every year cost is going up every year, the outcome is not that good. So the last year earlier this year, you know, as you said, JP, Morgan and, and chase and Amazon and blusher, they're all form together this company and they hired to go on day he's a professor in surgery from Harvard to be their CEO and then trying to create a new kind of models of healthcare delivery systems I think it's similar to I just submitted to Kaiser Permanente but it's it's different it's a different in a way that you have very powerful three companies backing up unlimited almost unlimited resources in finance in capitals of focusing a lot on using disruptive technologies to folks and more preventive medicines to focusing on more of value based care instead of overdiagnosis overtreatment, I think we're going to see more this kind of the models coming up in the next few years I think Google Facebook those companies may be joined a train as well
meditation comedy called a cortical oh yes how to the article
yes starting all going to do a
well Chronicles to moving and the
target goal maybe 10 years
and that neither not not fun very near future but there are two circuit party company and not the other Lori state but data status and start have one called human longevity which did about similar almost the same thing as what Carter called does actually they use the big data to have personalized medication and
developer drugs are according to a different peoples and Gene less so they are direction and that there's actually another very interesting
company called a good rail I don't know how many are you
sir This one alone Park me Yeah. I today and is
founded by two groups are people you don't die for medication side and the farm Google So Google people and the
early investment account farm besides his Tool Company from Jeff Bezos himself and Bill Gates so pick ASR
your cancelling headset back a joint venture on medication and it technologies and that's all we are also that humans are all these companies may use the idea technology technology to solve problems early stage cancer detection so they convert the medication problem to our competition problem. So that's actually Amazon for about 2120 engineers in AWS how them to solve the competition problem and the Google has a team they have to go where I today the infrastructure team now Google and join the company to
try to reduce the competition caused by already by 90% already reduce confusion caused by 90% there are always use another 90% so that can you can use about 1% computational calls will solve the problem. And today I think they can have an echo that whole body scan at a cassava $5,000 still pretty expensive, their goal is to reduce to about $500 so that we can have Nagar cancer prescreen for everybody. And so at a pretty low cost
Yeah, let me have a quick question like profitable Are you satisfied with the current you know medical health
program so know you have anyone?
I think it's too costly.
Costly? Okay, what about you? You happy with the current health care program?
I'm happy with Stanford's but
guess what country as a whole?
Are you happy with your doctor?
Well, I'm happy doctors. But I don't think we have a lot of work to do. I think for this country healthcare, it is not meeting it's, you know, go. It's not yet a lot of waste.
I know a lot of people probably among our audience, we are probably not happy with the current health care system. Even though we have no patient. I personally, I have no patient with my doctor, and my doctor has no patient with me every time. Like if I see the Chinese doctor, they hold my pause for less than three seconds. All right, or you can go anywhere you want to see my doctor. Oh, five minutes, Max, you can go. So are we going to expect something like a a I, you know, a
doctor in an really near future. So we can sit down with a doctor, maybe for an hour, two hours?
Okay, should I answer the first? Okay, I think there's a lot of misnomers that they you know, in the general public think that AI is going to take over doctors and and I don't think that's going to happen, you know, ever because you will lose that patient physician relationship. And the machines can't do that for you. But a robe a machine AI, you know, can help you in a way that not to directly diagnosis of disease. But it can do a lot of things. I'll give you one examples before I end this is that a Stanford we've been working on this for last 20 years is to predict hundreds of thousands patient being discharged each year, which one of them will have a higher chance to be readmitted. This is a very critical question is that which patient you know, through all the chaotic data that you can predict who is likely to come back again, and we should prevent that from happening, because that's cost saving. And that is also better for the patients. So AI is helping us to kind of recognize that pattern and to intervenes. Thank you,
professor, I think as probably come play tools in the future in the near future. Actually, number one is as a Roth her say, if I have our problem. So today, I had to visit my family doctor, right. And for those problem, I describe my symptom and they have my record and there's a power game Yes, address it and say go to the specialties because their specialties if this can have a QC probably 80% of the calls already, and this is number one number cool. It can house experts to make decision because people usually have had their experience but it's almost impossible for any expert to see 1 million medical records is impossible. But for those computer, it can do it very easily. And if the expert be something the
AI machine or you can say a doctor or computer can give them some suggestions. Otherwise, see, maybe you compare more attention to
this direction or that direction. So I think that that's probably can help doctors Thank you so much, Professor, Tim professional, and thank you for the audience for participating with our global medical technologies that lock and before you know you guys had into lunch intellectual mentioned that Professor Wu has brought some books Okay, if you guys you know, have a
louder a proud we're going to have a 20% discount. Let's have a cup for them. Thank you so much.
Thank you. Thank you. Yeah, thanks.