Providing Value to New Health Technology: The Early Contribution of Entrepreneurs, Investors, and Regulatory Agencies
Background New technologies constitute an important cost-driver in healthcare, but the dynamics that lead to their emergence remains poorly understood from a health policy standpoint. The goal of this paper is to clarify how entrepreneurs, investors, and regulatory agencies influence the value of...
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| Format: | Article |
| Language: | English |
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Kerman University of Medical Sciences
2017-09-01
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| Series: | International Journal of Health Policy and Management |
| Subjects: | |
| Online Access: | http://www.ijhpm.com/article_3314_d55516fc36042b9d4d8e93b9053f3a4a.pdf |
| _version_ | 1828734520740806656 |
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| author | Pascale Lehoux Fiona A. Miller Geneviève Daudelin Jean-Louis Denis |
| author_facet | Pascale Lehoux Fiona A. Miller Geneviève Daudelin Jean-Louis Denis |
| author_sort | Pascale Lehoux |
| collection | DOAJ |
| description | Background
New technologies constitute an important cost-driver in healthcare, but the dynamics that lead to their emergence remains poorly understood from a health policy standpoint. The goal of this paper is to clarify how entrepreneurs, investors, and regulatory agencies influence the value of emerging health technologies.
Methods
Our 5-year qualitative research program examined the processes through which new health technologies were envisioned, financed, developed and commercialized by entrepreneurial clinical teams operating in Quebec’s (Canada) publicly funded healthcare system.
Results
Entrepreneurs have a direct influence over a new technology’s value proposition, but investors actively transform this value. Investors support a technology that can find a market, no matter its intrinsic value for clinical practice or healthcare systems. Regulatory agencies reinforce the “double” value of a new technology —as a health intervention and as an economic commodity— and provide economic worth to the venture that is bringing the technology to market.
Conclusion
Policy-oriented initiatives such as early health technology assessment (HTA) and coverage with evidence may provide technology developers with useful input regarding the decisions they make at an early stage. But to foster technologies that bring more value to healthcare systems, policy-makers must actively support the consideration of health policy issues in innovation policy. |
| first_indexed | 2024-04-12T22:48:25Z |
| format | Article |
| id | doaj.art-d144666dc2c04aa19d1963fe4e6bea51 |
| institution | Directory Open Access Journal |
| issn | 2322-5939 2322-5939 |
| language | English |
| last_indexed | 2024-04-12T22:48:25Z |
| publishDate | 2017-09-01 |
| publisher | Kerman University of Medical Sciences |
| record_format | Article |
| series | International Journal of Health Policy and Management |
| spelling | doaj.art-d144666dc2c04aa19d1963fe4e6bea512022-12-22T03:13:26ZengKerman University of Medical SciencesInternational Journal of Health Policy and Management2322-59392322-59392017-09-016950951810.15171/IJHPM.2017.11Providing Value to New Health Technology: The Early Contribution of Entrepreneurs, Investors, and Regulatory AgenciesPascale Lehoux0Fiona A. Miller1Geneviève Daudelin2Jean-Louis Denis3Department of Health Management, Evaluation and Policy, School of Public Health, University of Montreal, Montréal, QC, CanadaInstitute of Health Policy, Management and Evaluation, University of Toronto, Toronto, ON, CanadaInstitute of Public Health Research of University of Montreal (IRSPUM), Montréal, QC, CanadaÉcole Nationale d’administration publique (ENAP), Quebec City, QC, CanadaBackground New technologies constitute an important cost-driver in healthcare, but the dynamics that lead to their emergence remains poorly understood from a health policy standpoint. The goal of this paper is to clarify how entrepreneurs, investors, and regulatory agencies influence the value of emerging health technologies. Methods Our 5-year qualitative research program examined the processes through which new health technologies were envisioned, financed, developed and commercialized by entrepreneurial clinical teams operating in Quebec’s (Canada) publicly funded healthcare system. Results Entrepreneurs have a direct influence over a new technology’s value proposition, but investors actively transform this value. Investors support a technology that can find a market, no matter its intrinsic value for clinical practice or healthcare systems. Regulatory agencies reinforce the “double” value of a new technology —as a health intervention and as an economic commodity— and provide economic worth to the venture that is bringing the technology to market. Conclusion Policy-oriented initiatives such as early health technology assessment (HTA) and coverage with evidence may provide technology developers with useful input regarding the decisions they make at an early stage. But to foster technologies that bring more value to healthcare systems, policy-makers must actively support the consideration of health policy issues in innovation policy.http://www.ijhpm.com/article_3314_d55516fc36042b9d4d8e93b9053f3a4a.pdfInnovation PolicyHealth PolicyHealth Technology Development (HTA)Technology-Based VenturesEarly HTA |
| spellingShingle | Pascale Lehoux Fiona A. Miller Geneviève Daudelin Jean-Louis Denis Providing Value to New Health Technology: The Early Contribution of Entrepreneurs, Investors, and Regulatory Agencies International Journal of Health Policy and Management Innovation Policy Health Policy Health Technology Development (HTA) Technology-Based Ventures Early HTA |
| title | Providing Value to New Health Technology: The Early Contribution of Entrepreneurs, Investors, and Regulatory Agencies |
| title_full | Providing Value to New Health Technology: The Early Contribution of Entrepreneurs, Investors, and Regulatory Agencies |
| title_fullStr | Providing Value to New Health Technology: The Early Contribution of Entrepreneurs, Investors, and Regulatory Agencies |
| title_full_unstemmed | Providing Value to New Health Technology: The Early Contribution of Entrepreneurs, Investors, and Regulatory Agencies |
| title_short | Providing Value to New Health Technology: The Early Contribution of Entrepreneurs, Investors, and Regulatory Agencies |
| title_sort | providing value to new health technology the early contribution of entrepreneurs investors and regulatory agencies |
| topic | Innovation Policy Health Policy Health Technology Development (HTA) Technology-Based Ventures Early HTA |
| url | http://www.ijhpm.com/article_3314_d55516fc36042b9d4d8e93b9053f3a4a.pdf |
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