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Friday, January 10, 2020

Physicians expect almost one-third of their jobs to be automated by 2040

Doctors say digital technology and data are driving change that will create a different world of medicine in the next couple of decades, a new report from Stanford Medicine finds.
In a survey, physicians, residents and medical students say they expect almost a third of their current duties could be automated in 20 years. And doctors are preparing for that very different healthcare future now, according to the report (PDF).
Nearly half of physicians (47%) and most medical students (73%) are seeking additional training in areas such as advanced statistics, genetic counseling, population health and coding. One-third are studying artificial intelligence, according to the national survey of more than 700 physicians, residents and medical students commissioned by Stanford Medicine to understand how changing trends will reach the doctor’s office and shape patient care.

“We found that current and future physicians are not only open to new technologies but are actively seeking training in subjects such as data science to enhance care for their patients,” said Lloyd Minor, M.D., dean of the Stanford University School of Medicine, in a statement.
“We are encouraged by these findings and the opportunity they present to improve patient outcomes. At the same time, we must be clear-eyed about the challenges that may stymie progress,” he said.

Key trends that are reshaping healthcare include a maturing digital health market, new health laws opening patient access to data and AI gaining regulatory traction for medical use.
And the jury’s still out when it comes to whether the private industry’s foray into healthcare—in the form of companies such as Amazon, Google and Apple— will solve problems.
Physicians, residents and students had mixed views about the impact these companies will have on healthcare, with 30% of students and residents and 21% of physicians still undecided. While patient outcomes are likely to improve, respondents are divided on whether physician effectiveness will improve and say physician job satisfaction will likely decrease, while healthcare costs likely increase.
Other findings include:
The value of data. The survey also showed that providers are heavy digital users and they believe patient data from wearables can be clinically valuable. Nearly half the survey respondents wear a health monitoring device, and most of them use the data to inform their personal healthcare decisions (71% of physicians, 60% of students and residents). A majority of students and residents (78%) and physicians (80%) say self-reported data from a patient’s health app would be clinically valuable in supporting their care. They also see value in data from consumer genetic testing reports.

Doctors aren’t prepared to implement innovations. However, most providers don’t believe the current generation of practitioners is ready for the data-driven future, even current medical students and residents. When asked to rate the effectiveness of their education to prepare them for these developments, only 18% of current medical students and residents surveyed said that their education was “very helpful.” And 44% of physicians surveyed said their education was either “not very helpful” or “not helpful at all.”
The report pointed to the need to modernize curriculum and training programs so current and future physicians can make the most of new technologies.
The ongoing struggle with medical practice burdens. And, no surprise, physicians and residents say they are struggling under medical practice burdens. Nearly 1 in 5 would change their career path if given the opportunity, citing poor work-life balance and administrative burdens as the top reasons to reconsider their decision.

Alnylam initiates U.S. application for lumasiran for PH1

Alnylam Pharmaceuticals (NASDAQ:ALNYinitiates its rolling New Drug Application (NDA) in the U.S. for lumasiran for the treatment of primary hyperoxaluria type 1 (PH1). Specifically, it has submitted the non-clinical components. It expects to complete the filing this quarter.

OncoCyte to acquire Insight Genetics

OncoCyte (NYSEMKT:OCX) has agreed to acquire privately held Insight Genetics (IG) for $12M in cash and stock, specifically, $7M in cash and $5M in OCX common shares.
The merger agreement also provides for OCX to pay a 10-year revenue share of not more than 10% of net collected revenues for current IG pharma service offerings and a tiered revenue share percentage of net collected revenues through the end of the lifecycle if certain new cancer tests are developed using IG technology. OncoCyte may pay contingent consideration of up to $6 million, in any combination of cash or OncoCyte common shares if certain milestones are achieved.
OCX will host a conference call today at 4:30 pm ET to discuss the transaction.
Shares up 5% after hours.

CDC to providers: Be on lookout for mysterious pneumonia cases

The CDC in a Jan. 8 advisory notice urged clinicians to look for symptoms of pneumonia among any patients who recently visited China.
If providers identify a patient with an unexplained severe respiratory illness, they should notify local and state health officials immediately.
The notice comes amid a mysterious pneumonia outbreak in Wuhan, China, which has sickened 59 people since Dec. 12. Scientists discovered a new strain of coronavirus in some patient samples, but health officials have yet to identify this strain as the definitive source of the outbreak.
The outbreak is potentially linked to a local market that sold live animals. At present, health officials have not found any evidence of the strain spreading through human transmission.

23andMe licenses 1st drug

Genetic testing company 23andMe licensed a drug to Spanish drugmaker Almirall, the first drug it developed completely in-house, according to Bloomberg.
More than 10 million people have taken DNA tests from 23andMe, and the data the company receives helps it to discover new drug targets to treat diseases.
23andMe has previously partnered with GlaxoSmithKline to share its data and collaborate on drug development, but this is the first time it has developed a drug on its own.
Emily Drabant Conley, 23andMe vice president of business development, told Bloomberg the company is pursuing other drug targets and that it may conduct its own clinical trials rather than license to other companies.
The drug it licenced is designed to treat autoimmune and inflammatory conditions, such as lupus and Crohn’s disease. It has been tested on animals, but still needs to undergo clinical trials in humans.
The deal with Almirall gives it the rights to develop and commercialize the drug for worldwide use. Almirall plans to develop the drug to target dermatological conditions, Bloomberg reported.

Castle Biosciences up on business ramp

Thinly traded Castle Biosciences (CSTL +1.7%) is up, albeit on a modest 19K shares, on the heels of its Q4 update. Highlights:
DecisionDx-Melanoma test reports up 37% to 3,270.
DecisionDx-UM test reports up 13% to 434.
Second commercial expansion executed last month, doubling of personnel.
Cash and equivalents at year-end: ~$99M.
H2 2020: Launch DecisionDx-SCC gene expression profile (GEP) test for high-risk cutaneous squamous cell carcinoma. Announce data from studies of GEP test for patients with suspicious pigmented lesions.

CareDx up on CE Mark for AlloSeq cfDNA test

CareDx (CDNA +3.4%) perks up on average volume on the heels of CE Mark certification for its liquid biopsy AlloSeq circulating free (cf) DNA test kit.