Wednesday, 20 January 2010 10:23

Bristol-Myers Squibb

Written by  ODISHAMEDICAL.COM
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Bristol-Myers Squibb (NYSE: BMY), often referred to as BMS, is a pharmaceutical company, headquarted in New York City.

The company was formed in 1989, following the merger its predecessors Bristol-Myers and the Squibb Corporation. Squibb was founded in 1858 by Edward Robinson Squibb in Brooklyn, New York, while Bristol-Myers was founded in 1887 by William McLaren Bristol and John Ripley Myers in Clinton, New York (both were graduates of Hamilton College).

 

James M. Cornelius is the company's Chairman and CEO and was granted $25.0 million in compensation in 2008 according to Forbes.

Bristol-Myers Squibb manufactures prescription pharmaceuticals in several therapeutic areas, including cancer, HIV/AIDS, cardiovascular disease, diabetes, hepatitis, rheumatoid arthritis and psychiatric disorders. It is also the parent company of Mead Johnson Nutrition, which manufactures nutritional products such as Enfamil baby formulas and infant vitamin supplements like Tri-Vi-Sol. Bristol-Myers Squibb has a mission to "Extend and Enhance Human Life" and works to discover and develop medicines in areas of serious unmet medical need.

BMS' primary R&D sites are located in Lawrenceville, New Jersey (formerly Squibb) and Wallingford, Connecticut (formerly Bristol-Myers), with other sites around the US, in Ireland, and in other countries.

A major restructuring involves focusing on the pharmaceutical business and biologic products along with productivity initiatives and cost-cutting and streamlining business operations through a multi-year program of on-going layoffs. As another cost-cutting measure Bristol-Myers also drastically reduced subsidies for health-care to retirees and plans to freeze their pension plan at the end of 2009.[citation needed]

In November 2009, Bristol-Myers Squibb announced that it was "splitting off" Mead Johnson Nutrition by offering BMY shareholders the opportunity to exchange their stock for shares in Mead Johnson. According to Bristol-Myers Squibb, this move is expected to further sharpen the company's focus on biopharmaceuticals.

In 2005, BMS was among 53 entities that contributed the maximum of $250,000 to the second inauguration of President George W. Bush.

BMS is a Fortune 500 Company (#129 in 2007 list). Newsweek's 2009 Green Ranking recognized Bristol-Myers Squibb as 8th among 500 of the largest U.S. corporations. Also, BMS was included in the 2009 Dow Jones Sustainability North America Index of leading sustainability-driven companies.

In August 2009, BMS acquired the biotechnology firm Medarex as part of the company's "String of Pearls" strategy of alliances, partnerships and acquisitions.

 

Last modified on Wednesday, 20 January 2010 11:01
ODISHAMEDICAL.COM

ODISHAMEDICAL.COM

What is Telemedicine?

Here is the definition I have used over the past ten years or so to describe Telemedicine:"Telemedicine is the ability to provide interactive healthcare utilizing modern technology and telecommunications."

Basically, Telemedicine allows patients to visit with physicians live over video for immediate care or capture video/still images and patient data are stored and sent to physicians for diagnosis and follow-up treatment at a later time. Whether you live in the center of a Metro City or deep in the Remote Village, Telemedicine is an invaluable tool in Healthcare.

Here's an example of how Telemedicine works everyday. Say you have a horrible sore throat and visit your healthcare provider (could be a general practice physician, nurse practitioner, or unlicensed health worker in a village depending where you live), who does an examination and is concerned with what he sees. Your provider recommends a referral to an ENT specialist for a follow up diagnosis and treatment plan. Well, instead of traveling to the nearest specialist, which depending where you live could be anywhere from a 45-minute drive or an 18-hour ride, your provider connects you directly to the ENT specialist via Telemedicine.

Here are some of the major benefits of a Telemedicine Consultation:

The specialist actually hears your medical history and current condition directly from you and your provider instead of the specialist receiving a dictated note in the mail.

With the use of ENT medical peripherals such as a nasopharyngoscope, your provider can pass this medical peripheral into your nasal passage which will allow your provider and the ENT specialist simultaneous crystal clear video of your throat and vocal cords. The specialist may ask you to cough, pronounce letters, etc. in order to get the best outcome for the diagnosis.

The specialist can diagnose and recommend treatment immediately.

Your provider has the opportunity throughout the examination to ask questions and learn from each and every consultation. The continual education of your provider via medical consultations is an immeasurable benefit to all his patients.

Telemedicine Usage Models

Real-Time

This is the most common use in Telemedicine. Like the example above, live video allows the provider, patient and specialist to all communicate together to achieve the best outcome for the patient.

In or outpatient specialty consultation

Physician supervision of non-MD clinician

Generally require higher bandwidths (minimum 256kb)

Store and Forward (asynchronous)

Used when both health providers are not available or not required at the same time. The provider's voice or text dictation on the patient's history, current affliction including pictures and/or video, radiology images, etc., are attached for diagnosis. This record is either emailed or placed on a server for the specialist's access. The specialist then follows up with his diagnosis and treatment plan.

Teleradiology

Can be done over low or high bandwidth

Images scanned, direct capture, or digital camera

Other specialties consist of dermatology, ophthalmology, pathology

Home Health Telemedicine

When a patient is in the hospital and he is placed under general observation after a surgery or other medical procedure, the hospital is usually losing a valuable bed and the patient would rather not be there as well. Home health allows the remote observation and care of a patient. Home health equipment consists of vital signs capture, video conferencing capabilities, and patient stats can be reviewed and alarms can be set from the hospital nurse's station, depending on the specific home health device.

Usually low bandwidth analog Plain Old Telephone System (POTS). Some newer systems do support higher bandwidth capabilities.

Disease management, post-hospital care, assisted living, etc.

Summary of Benefits of Telemedicine:

To Rural Physicians and clinics (spoke sites) Receive education from the specialist/provider

Better health outcome for their patients

Enhanced community confidence in local healthcare

Attend continuing medical education courses from their clinic

To Patients

Loved ones remain in their community with family support

Cost savings from not having to travel extensively

Immediate urgent care

Confidentiality of specialty examination or visit (Because the patient visits the general practice doctor, he can be seen for any specialty care without anyone else knowing)

Patient education courses (nutrition, oncology, etc.)

Properly stabilize patient prior to transport

Early Diagnosis prior to escalated medical episode

Rural Patient's Community

Dollars follow the patient

Patients that routinely travel to visit doctors in large urban areas tend to purchase their goods and services from those cities, Telemedicine keeps those dollars local.

To Telemedicine Providers (hub sites)

Expand patient outreach

Major surgical procedures resulting from the initial telemedicine consultation

Reduction in ER visits

Promotion of Hospital

Charge tuition for clinician education courses (CME, CNE, etc.)

How can we give any hospital or clinic immediate access to a vast amount of medical experts, healthcare education/information, and support from other physicians.

How can we take all these resources and share them immediately and effectively with any hospital or clinic in the world?

We can use Telemedicine!

 

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