Trilogy TidingsMarch 2011
The importance of product cost effectiveness - to our healthcare system and our medical-product suppliers - is not going away. Quite the contrary, and the evidence mounts. I start with a reprise of this issue from my initial thoughts shared earlier.
When should your medical device undergo a clinical study, and why? I touch on this subject, and reveal a new Internet resource, next.
Finally, a clever simulation tool for surgical training, and perhaps more.
|Leverage Cost Effectiveness Now
A recently reported presentation by academic researcher David Meltzer at the annual meeting of AAAS caught my eye. He was pitching the importance of cost-effectiveness analysis in controlling healthcare costs. His emphasis on reducing the frequency of medical tests is greater than I would advocate. Nevertheless, this article reminded me of just how important - to medical product suppliers - the issue of cost has become. I'm not talking about product price here; the issue is much more profound than that.
No matter which end of the political spectrum "wins" the current debate, cost effectiveness will become the arbiter of market winners and market losers. Either a government will impose limits and proof requirements or industry and healthcare providers will, of necessity, be compelled to address societal costs to compete. Suppliers and providers simply must leverage cost effectiveness now or be left in the dust over the next decade.
I addressed the cost effectiveness issue in a white paper in November of 2009, and recent events convince me that the issue is even more important - and more urgent - now. Have a look at those thoughts, and let me know what you think.
|Clinical Studies: Early and Often
I discovered a new Web site called Healing Innovation; more on that later. A recent post on that site addressed the importance of early and frequent clinical studies in a very convincing manner. One's first reaction is likely to be: "I can barely afford one trial, how can I possibly afford many?" But the author makes a strong case for early, small pilot and feasibility studies for purposes of design and procedural improvements prior to a definitive clinical trial (if such a trial is required at all). This post will cause you to think beyond regulatory requirements as a reason for explorations in the clinic. The Healing Innovation site appears to be a source of information for physicians and other clinicians who are disposed to invent new devices and therapies. It aims to provide resources to assist their commercialization efforts. All is not clear because the producers of the site are not identified, so I'll reserve judgment for now. But it's worth a look.