Amit Raizada Explains How Medical Technology Saves Lives
COVID-19 have made it clear how critical investments in medical technology can be when it comes to saving lives. Without modern innovations like mechanical ventilators that breathe for people who are unable to do so independently, the fight against COVID-19 would look completely different. The philanthropic sector has a major role in making sure lifesaving technologies like ventilators are deployed to hospitals quickly and effectively.
Early investment in medical technology ventures is incredibly important because these innovations require years of research, development, testing, and regulatory review before they can be widely utilized. Because of the high level of risk associated with developing advanced technologies, the private sector needs funding without the pressure to turn profits early on. Once these technologies finally reach the market, the next challenge is getting them to medical providers that can utilize them. That's where philanthropy comes in and a true activist like Raizada can make a difference when the world needs it the most.
Medical providers face many hurdles in bringing new medical equipment to their practices and hospitals - primarily financial. Not-for-profit hospitals, of which there are approximately 3,000 nationwide, are under intense financial pressures in the modern healthcare landscape. They are increasingly dependent on philanthropic dollars from donors like Amit Raizada to replace aging infrastructure and acquire new equipment. However, according to Inside Philanthropy, individual donors to hospitals pay the least attention to equipment purchases.
This is surprising because supporting medical technology is personal for me. My family has a history of heart and lung problems, and consequently, one of my family's earliest philanthropic gifts was to help the University of Kansas Hospital become the first in the nation to acquire and use MediGuide, a state-of-the-art technology that works like a GPS within the body. Using MediGuide, cardiologists can map a route to the heart without needing for X-ray equipment to run throughout the entire procedure, reducing the patient and staff's exposure to cancer radiation by up to 90%. This technology is a game-changer for heart procedures that treat atrial fibrillation and other abnormal heart rhythms.
Beyond my experience supporting medical technology as a philanthropist, as an investor and CEO of SBV, I've had the opportunity to invest my capital behind revolutionary medical technologies and treatments. Treatments like the Sinusleeve® Balloon Sinus Dilation Sleeve, the world's first balloon sinus dilation sleeve in the ENT field that offers a unique, universal design and increases functionality for surgeons at a lower cost. Other medical tech I've invested in include a firm developing cancer drugs that weaponize the body's immune system against cancer cells, eating away tumors from the inside out.
These experiences have taught me how important it is for hospitals to have access to transformative, cutting edge resources. Simply put, these resources help hospitals and doctors save more lives. Through the Amit Raizada Foundation, I'm committed to supporting renowned medical institutions with purchasing innovative medical technology and educating providers to ensure they are equipped to use it.
Medical technology is critical. It's time for the philanthropic community to help more hospitals purchase medical equipment and save more lives. Our communities depend on it.