Biomedical Innovation In The Era Of Health Care Spending Constraints

Robinson, James C.

doi:10.1377/hlthaff.2014.0975

Cited by 20 publications

(17 citation statements)

References 15 publications

(14 reference statements)

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“…23 While it is hard to determine to what degree each of these factors will contribute to setting a sustainability ceiling for cancer care; it appears that society is often willing to pay more for innovation and new technologies that significantly improve patients' health and for which there is no therapeutically equivalent alternative. 24 If these initiatives can help avoid surgeries, reduce hospitalisations and/or offset other medical costs, a higher ceiling may be justified. 25 Without new policies, trade-offs may be necessary to ensure sustainability, which could lead to patients being denied access to effective cancer treatments.…”

Section: Defining Sustainability In Cancer Carementioning

confidence: 99%

“…Some believe that undue pressure on health expenditure, together with a decline in economic return for the pharmaceutical industry, will adversely affect innovation by reducing the revenues available for research and development. 24,64 On the other hand, reaching the sustainability ceiling may actually drive innovation, reinforcing the need to focus on value, i.e. providing the highest-quality care possible rather than as much care as possible.…”

Section: Potential Impact Of Reaching the Sustainability Ceiling Of Cmentioning

confidence: 99%

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What Happens when the Cost of Cancer Care Becomes Unsustainable?

Simoens¹,

Harten²,

Lopes³

et al. 2017

European Oncology &Amp; Haematology

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Cancer places a heavy burden on healthcare systems. The cost of cancer drugs is increasing, driven largely by the introduction of new, ever more innovative cancer treatments. This raises questions about value for money and the future sustainability of cancer care, and presents significant challenges for decision-makers in providing all patients with access to treatments and effective new cancer medicines. The aims of this article are to provide an understanding of how sustainability in cancer care is defined, what signs indicate that the limits of sustainability are being reached, and what potential impact this may have on patients with cancer within Europe. Each country is faced with making difficult decisions about the allocation of healthcare resources to cancer care, to best meet the health needs of their patients. Determining the value of individual cancer drugs can help to inform these decisions, because premium pricing for incremental innovation is no longer sustainable. When the cost of cancer care becomes unsustainable, countries may be forced to restrict health expenditure by limiting demand, cutting spending and reducing investment. This can lead to restricted access to treatment. New, innovative cancer treatments must provide greater value than current options, and measures are needed to contain and reduce expenditure and make best use of scarce resources, without impeding access to effective and safe treatments for all patients.

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Section: Defining Sustainability In Cancer Carementioning

confidence: 99%

Section: Potential Impact Of Reaching the Sustainability Ceiling Of Cmentioning

confidence: 99%

What Happens when the Cost of Cancer Care Becomes Unsustainable?

Simoens¹,

Harten²,

Lopes³

et al. 2017

European Oncology &Amp; Haematology

View full text Add to dashboard Cite

show abstract

“…Innovators have their own view of the world: they are conscious of the potential merits of their innovations, and of the efforts expended to achieve them; if they are private-sector innovators (as so many of them are), they will also have their own view of what sort of reward they deserve, both for the individual innovation, and for maintaining the expensive infrastructure that makes innovations possible [10]. …”

Section: Putting a Value On New Treatmentsmentioning

confidence: 99%

Treatment Is Worth a Lot - But Just How Much

Horgan¹

2017

Biomed Hub

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More than at any other time in history, science offers enormous potential to transform the prevention, diagnosis and treatment of many diseases. However, patients are urgently awaiting new therapies - and too often not getting them. And researchers and companies also face significant development obstacles as only one in ten drugs entering clinical trials ever makes it over the finish line. This article looks at the issues involved in bringing innovation into healthcare systems from a political and policy level. It takes a close look at Health Technology Assessment (HTA) across Member States, how it is working and, more to the point, how it isn't, and how it often serves to stymie the introduction of new medicines by undermining the European Medicines Agency (EMA). The article argues that the EU could strengthen HTA cooperation via a common framework, and promote higher quality and fairer assessments; while joint work could reduce duplication of efforts, and promote better synergies as well as better use of Member States' resources. The author also takes an in-depth look into criticism of private-sector pricing of innovative medicines in the light of discussions about what constitutes “value” in the context of new treatments - a discussion that shows no signs of abating - while advocating enhanced contact and the need for compromise between all stakeholders in the great value debate.

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“…For Robinson,25 the current emphasis on more sophisticated and cost-conscious purchasing in healthcare may have the ‘potential to increase the social value of innovation’ by focusing technology developers on ‘the preferences and pocketbooks’ of their customers. Beyond their cost, we believe the value of innovations will increase only if clinical leaders and health services and policy experts contribute much more actively than they have done so far to innovation policy.…”

Section: Venture Capital and New Medical Technologiesmentioning

confidence: 99%

How does venture capital operate in medical innovation?

2016

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While health policy scholars wish to encourage the creation of technologies that bring more value to healthcare, they may not fully understand the mandate of venture capitalists and how they operate. This paper aims to clarify how venture capital operates and to illustrate its influence over the kinds of technologies that make their way into healthcare systems. The paper draws on the international innovation policy scholarship and the lessons our research team learned throughout a 5-year fieldwork conducted in Quebec (Canada). Current policies support the development of technologies that capital investors identify as valuable, and which may not align with important health needs. The level of congruence between a given health technology-based venture and the mandate of venture capital is highly variable, explaining why some types of innovation may never come into existence. While venture capitalists’ mandate and worldview are extraneous to healthcare, they shape health technologies in several, tangible ways. Clinical leaders and health policy scholars could play a more active role in innovation policy. Because certain types of technology are more likely than others to help tackle the intractable problems of healthcare systems, public policies should be equipped to promote those that address the needs of a growing elderly population, support patients who are afflicted by chronic diseases and reduce health disparities.

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Biomedical Innovation In The Era Of Health Care Spending Constraints

Cited by 20 publications

References 15 publications

What Happens when the Cost of Cancer Care Becomes Unsustainable?

What Happens when the Cost of Cancer Care Becomes Unsustainable?

Treatment Is Worth a Lot - But Just How Much

How does venture capital operate in medical innovation?

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