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Regulatory process, costs drive medical innovation out of the U.S.
CARDIOVASCULAR BUSINESS To reinvigorate medical innovation, the U.S. is in “desperate need of governmental and regulatory reform” and positive case examples to show that it still can be achieved, according to Martin B. Leon, MD, who gave a Nov. 7 lecture at the 23rd annual Transcatheter Cardiovascular Therapeutics (TCT) conference...
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Four barriers stifling medical device innovation
MEDCITY NEWS Smith & Nephew (NYSE:SNN) executive Mark Augusti takes time to occasionally talk to students about his experience in medical devices and his thoughts on the industry. Often he’s asked if the industry that he’s made his career will be a good one in the future. "I think it will be,” he said. “But it will be very different."...
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VdE initiative to boost US bioinnovation
MEDICAL DESIGN Value-driven engineering (VdE) is the focal point of a plan developed by a group of leading biomedical organizations that assembled last March at a Safe Haven Summit in Washington, DC, convened by the Austen BioInnovation Institute in Akron (ABIA), a collaboration of hospitals and health organizations (Akron Children's Hospital, Akron General Health System, and Summa Health Systems) and universities (Northeastern Ohio Universities Colleges of Medicine and Pharmacy (NEOUCOM) and The University of Akron), focused on patient-centered innovation and commercialization...
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Akron partnership leads plan for medical devices
AKRON BEACON JOURNAL The Austen BioInnovation Institute in Akron is leading a national push to make the United Stated more competitive globally in the medical device industry. BioInnovation Institute President and Chief Executive Dr. Frank L. Douglas joined with other industry leaders on Thursday to unveil proposals to reduce the complexity of getting new products approved, boost public and private funding and attract more young talent to the biomedical field...
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Austen BioInnovation Institute makes the case for value-driven engineering
MASS DEVICE The Austen BioInnovation Institute in Akron is leading a national push to make the U.S. more globally competitive in the medical device industry. BioInnovation Institute president and CEO Dr. Frank L. Douglas joined with other industry leaders on Thursday to unveil proposals to reduce the complexity of getting new products approved, boost public and private funding and attract more young talent to the biomedical field...
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Akron partnership leads plan for medical devices
PHARMACY CHOICE The Austen BioInnovation Institute in Akron is leading a national push to make the United States more competitive globally in the medical device industry. BioInnovation Institute President and Chief Executive Dr. Frank L. Douglas joined with other industry leaders on Thursday to unveil proposals to reduce the complexity of getting new products approved, boost public and private funding and attract more young talent to the biomedical field...
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Report Calls for Less Complexity in Medical Device Design
ASC REVIEW The Austen BioInnovation Institute in Akron, Ohio has released a white paper on value-driven engineering that aims to reduce unnecessary complexity of design of medical devices, according to a release by the Institute. To encourage this approach, which would lower device costs, the Institute proposes to revamp funding and regulations of devices and introduce public-private collaborations...
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Austen BioInnovation Institute makes case for value-driven engineering
MEDCITY NEWS The Austen BioInnovation Institute in Akron is leading a national push to make the United States more competitive globally in the medical device industry. BioInnovation President and Chief Executive Dr. Frank L. Douglas joined with other industry leaders on Thursday to unveil proposals to reduce the complexity of getting new products approved, boost public and private funding and attract more young talent to the biomedical field...
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Akron institute leads U.S. medical summit
AKRON BEACON JOURNAL A partnership from Akron is leading a national effort to boost the United States’ competitiveness in making quality, more affordable medical devices. The Austen BioInnovation Institute in Akron this month led the Value-driven Engineering and U.S. Global Competitiveness Safe Haven Summit in Washington, D.C...
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Will Medical Technology Innovation Shift to Emerging Markets?
THE WALL STREET JOURNAL The U.S. is losing ground to emerging-market countries such as China, India and Brazil as a center of medical innovation, according to a new report from PricewaterhouseCoopers. The report says that med tech innovators are increasingly going outside the U.S. “to seek clinical data, new-product registration and first revenue,” and that U.S. consumers “could eventually be last in line” to benefit from med tech advances...
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Frugal Healing: Inexpensive Asian innovation will transform the market for medical devices
THE ECONOMIST Ninety minutes north-east of Beijing lies what may be the future of medical technology. Weigao, a Chinese firm that started as a state-owned "township enterprise", has built a research and manufacturing center where the laboratories are surprisingly chilly. Only the clean room, it seems, is fully climate-controlled. And that offers a lesson about frugal innovation. Whereas Western technology firms have plush premises, in China the people shiver while fancy equipment stays warm...
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Life should be cheap: How China and India can help cut Western medical bills
THE ECONOMIST Across the rich world, governments with ageing populations are worried about soaring health-care costs. In Britain this week David Cameron announced yet another reorganization of the National Health Service (see article). But the problem is most severe in America. Medical spending per head has nearly tripled since 1990, yet most indicators of health have barely budged. And the rising cost of health care depresses wages-- because many Americans receive health insurance from their employers who therefore pay them less...