Is Patient Participation Redefining Clinical Trials?

The LOUNGE - A Newsletter for Savvy Physicians

We scour the net, selecting the most pertinent articles for the busy doc so you don’t have to! Here’s what kept our focus this week…

• A 2024 study showed 70% of patients said their providers considered info from support groups during care.

• Entrepreneurs should rethink exit timelines and prioritize capital preservation to survive a slower, more uncertain market.

• 55% of CEOs believe they’re empathetic, but only 28% of employees agree—showing a major perception gap.

• JP Morgan expects real GDP growth to fall to 0.3%, down from 1.3%, meeting the “negative growth” recession marker.

• Over half the workweek is spent on written communication — making it core to modern leadership.

• Two homes, $2 million in investments, and still unsure about the future — this retired doctor’s case is a masterclass in retirement trade-offs.

LOUNGE TALK

The world of clinical research is undergoing a seismic shift, and the message is loud and clear: patients are now partners, not just participants. With the International Council for Harmonisation (ICH) adopting the updated E6(R3) Good Clinical Practice (GCP) guidelines, patient involvement is no longer optional—it’s essential. These guidelines require researchers to embed patient input into the very foundation of trial design, making it a core quality metric. This move comes after years of advocacy, global consultation, and stakeholder feedback calling for more inclusive and flexible research practices. The changes are especially impactful in rare and evolving fields, where patient insights can uncover blind spots and enhance trial relevance. The clock is ticking—by July 2025, studies must be fully compliant, including proof of how patient voices shaped protocols. For those unsure where to start, patient organizations are already deeply embedded in the research ecosystem and ready to collaborate.

While many entrepreneurs are stressing over tariffs and market instability, Wharton professor Joao Gomes says the real, underappreciated risk is America's tightening immigration policy. According to Gomes, immigrants play an outsized role in founding startups and powering innovation, and the current climate may scare off future talent. He warns that fewer international students, uncertain visa policies, and broader cultural hostility could damage the U.S.'s long-term entrepreneurial edge. Tariffs and inflation are still immediate concerns—causing inventory challenges, credit delinquencies, and a pullback in discretionary spending. But Gomes sees immigration policy as a more permanent drag, especially as the U.S. faces an aging population and a shrinking labor force. If capital inflows from abroad dry up and exit strategies become less attainable, startups will find it harder to scale. Entrepreneurs need to get lean, stay nimble, and plan for longer, tougher growth cycles. The bottom line: smart businesses should be looking beyond just trade policy and bracing for structural shifts in talent and capital.

Empathy isn’t just a feel-good leadership trait—it’s a critical business skill with real-world consequences. While many leaders dismiss empathy as “touchy-feely,” research and experience show that ignoring it leads to toxic work environments, low morale, and high turnover. Worse, most leaders vastly overestimate their empathetic abilities, creating blind spots that damage trust and performance practicing empathy isn’t about playing therapist; it’s about deep listening, perspective-taking, and holding space for others' experiences. Leaders must balance individual needs with team performance, avoid emotional overidentification, and model boundaries to stay effective. Creating a shared “empathy protocol” can help organizations turn values into actionable behaviors. And if you’re tempted to use phrases like “I know how you feel” or “at least,” think again—empathetic language matters more than you think. Bottom line: empathy is not optional—it’s a skill that must be intentionally developed, modeled, and maintained.

While whispers of a recession have lingered since the pandemic, recent events suggest the U.S. may have officially crossed the line. Though the economy showed signs of recovery in 2024, inflation stayed stubbornly high, and now new trade policies have tipped the scales. Recessions typically involve a sustained decline in GDP, employment, and consumer spending — all of which are flashing warning signs. Dr. Nirav Shah explains how traditional metrics like inverted yield curves and negative GDP growth are now being joined by real-time events: mass layoffs, stock market drops, and slumping business investments. The trigger? President Trump’s 2025 tariff rollout, which spooked markets and slowed down hiring. Major banks like JP Morgan and Barclays have revised forecasts downward, warning of a high-risk recession scenario. With the S&P 500 at its lowest in 11 months and economic confidence shaken, the outlook has gone from cautious to critical.

Writing may be one of the most underrated skills in leadership, but it's a silent driver behind clear strategy, strong alignment, and real influence. While leaders are trained to develop emotional intelligence and public speaking, the ability to write well often gets ignored — despite being central to nearly every decision-making process. Great leadership writing isn’t about flowery language or perfect grammar; it’s about clarity, structure, and precision. Whether it’s a crisp email, a motivating company memo, or a strategic document, effective writing cuts through confusion and sets the tone for action. Yet many leaders fall short by writing like they talk — leading to scattered, unclear messages that hinder execution. With written communication dominating the modern workplace, mastering it is no longer optional. Writing well helps leaders shape culture, align teams, and drive results before a word is even spoken aloud.

A retired 74-year-old physician with a solid net worth is facing classic late-life financial dilemmas — juggling two costly homes, family support goals, investment confusion, and a withdrawal rate that feels too high. Despite having around $5 million in assets, her portfolio management choices and expensive advisor have put her in a precarious spot. She’s seeking a 5.5% return in retirement, above the typical 4% rule, but her asset allocation and cash flow challenges signal deeper issues. From being house poor to clinging to outdated financial maxims, her situation highlights both personal finance missteps and broader lessons for retirees. The good news? There are smart fixes: simplifying investments, ditching the bad advisor, considering annuities, and focusing on cash flow rather than portfolio perfection. Retirement success isn’t about having more — it’s about making what you have work harder and smarter. This case reminds us that clarity, not complexity, is often the answer.

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