At healthcare conferences, someone always asks, “What if there was a magic pill?” One that could cure major diseases. What would the healthcare industry look like? Some emergency rooms and hospitals but less doctors and spending? Inevitably, the discussion ends with, “But, of course, there is no magic pill.” So we spend, spend, spend on healthcare, from $1.4 trillion in 2000 in the U.S. to more than $4.3 trillion—18% of the economy—in 2021.

Could there be magic cures? History shows plenty of wonder drugs and treatments. Aspirin reduces inflammation. Penicillin and other antibiotics fight infections. Insulin treats diabetes. Stents unblock arteries. These treat but don’t cure diseases. Plus, two-thirds of American adults are overweight or obese, which puts them at greater risk for many chronic diseases such as heart disease and stroke. According to the National Institutes of Health, “86% of health care costs are attributable to chronic disease.” - Wall Street Journal