Help with overcoming the innovation paradox
Healthcare systems are striving to improve cost-effectiveness, yet current procurement policies hinder the introduction of new technology that will provide the means to improve efficiency. This "innovation paradox,” where efforts to control costs actually threaten to produce the opposite, is discussed in new research by the European Health Technology Institute for Socio-Economic Research (EHTI).
Its first research brief "Resolving the Innovation Paradox of MedTech Procurement: Five Lessons from Research Outcomes” provides insights into the mechanisms of the problem and practical direction. This takes the form of five general lessons to help medical technology companies overcome the innovation paradox. The document is free to download from www.together4healthinnovation.eu then click on Reading Room.
The four-page document, developed in collaboration with Dr Brian Smith, Adjunct Professor at SDA Bocconi School of Management and Editor at Journal of Medical Market, is the first of a series of four briefs that will be released by the Institute throughout the year. The objective is to encapsulate the recommendations of the EHTI research projects in a language appropriate for industry executives, said EHTI.