OEN Member NewsConsano – Medicine’s New Crowdfunding Model

It’s a not-very-well-kept secret in the realm of science: when it comes to producing world-class research, the U.S. is losing its edge because of belt-tightening that’s limiting medical innovation, says Dr. Francis Collins, director of the National Institutes of Health (NIH). The agency’s budget of around $30 billion is up from 2004’s $28 billion in nominal dollars–but when adjusted for the inflation in cost for medical research, the current budget reflects a drop of nearly 25% in purchasing power.

Source: time.com

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