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Innovation and Uncertainty in the Medical Industry

2015
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Release : 2015
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Book Synopsis Innovation and Uncertainty in the Medical Industry by : Jeffrey P. Clemens

Download or read book Innovation and Uncertainty in the Medical Industry written by Jeffrey P. Clemens. This book was released on 2015. Available in PDF, EPUB and Kindle. Book excerpt: We describe the broad range of uncertainties faced by the developers of medical technologies. Empirically, we estimate the asset market incidence of two realizations of uncertainties we classify as within-market policy risks. The events we analyze concern the intellectual property of Myriad Genetics, Inc., an American molecular diagnostics firm. In July 2013, the Supreme Court invalidated several of Myriad's intellectual property claims. Subsequently, the Center for Medicare and Medicaid Services reevaluated the reimbursements it pays for the services at issue in this patent litigation. We estimate that these events substantially moved Myriad's market capitalization, by just under 25 percent in the case of the Supreme Court's decision and nearly 20 percent in the case of CMS's reimbursement rate re-determination. Myriad's exposure to the realization of these intellectual property risks reflects its unusually high reliance on revenues linked to the services at issue. We discuss the implications of these risks for the total volume of medical innovation and for its organization across firms.

Medical Innovation in the Changing Healthcare Marketplace

2002-05-06 Medical
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Release : 2002-05-06
Genre : Medical
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Book Rating : 014/5 ( reviews)

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Book Synopsis Medical Innovation in the Changing Healthcare Marketplace by : National Research Council

Download or read book Medical Innovation in the Changing Healthcare Marketplace written by National Research Council. This book was released on 2002-05-06. Available in PDF, EPUB and Kindle. Book excerpt: A wave of new health care innovation and growing demand for health care, coupled with uncertain productivity improvements, could severely challenge efforts to control future health care costs. A committee of the National Research Council and the Institute of Medicine organized a conference to examine key health care trends and their impact on medical innovation. The conference addressed the following question: In an environment of renewed concern about rising health care costs, where can public policy stimulate or remove disincentives to the development, adoption and diffusion of high-value innovation in diagnostics, therapeutics, and devices?

Medical Innovation in the Changing Healthcare Marketplace

2002-06-06 Medical
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Release : 2002-06-06
Genre : Medical
Kind : eBook
Book Rating : 164/5 ( reviews)

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Book Synopsis Medical Innovation in the Changing Healthcare Marketplace by : National Research Council

Download or read book Medical Innovation in the Changing Healthcare Marketplace written by National Research Council. This book was released on 2002-06-06. Available in PDF, EPUB and Kindle. Book excerpt: A wave of new health care innovation and growing demand for health care, coupled with uncertain productivity improvements, could severely challenge efforts to control future health care costs. A committee of the National Research Council and the Institute of Medicine organized a conference to examine key health care trends and their impact on medical innovation. The conference addressed the following question: In an environment of renewed concern about rising health care costs, where can public policy stimulate or remove disincentives to the development, adoption and diffusion of high-value innovation in diagnostics, therapeutics, and devices?

Innovation and Invention in Medical Devices

2001-12-01 Medical
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Release : 2001-12-01
Genre : Medical
Kind : eBook
Book Rating : 552/5 ( reviews)

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Book Synopsis Innovation and Invention in Medical Devices by : Institute of Medicine

Download or read book Innovation and Invention in Medical Devices written by Institute of Medicine. This book was released on 2001-12-01. Available in PDF, EPUB and Kindle. Book excerpt: The objective of the workshop that is the subject of this summary report was to present the challenges and opportunities for medical devices as perceived by the key stakeholders in the field. The agenda, and hence the summaries of the presentations that were made in the workshop and which are presented in this summary report, was organized to first examine the nature of innovation in the field and the social and economic infrastructure that supports such innovation. The next objective was to identify and discuss the greatest unmet clinical needs, with a futuristic view of technologies that might meet those needs. And finally, consideration was given to the barriers to the application of new technologies to meet clinical needs.

The Changing Economics of Medical Technology

1991-02-01 Medical
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Release : 1991-02-01
Genre : Medical
Kind : eBook
Book Rating : 91X/5 ( reviews)

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Book Synopsis The Changing Economics of Medical Technology by : Institute of Medicine

Download or read book The Changing Economics of Medical Technology written by Institute of Medicine. This book was released on 1991-02-01. Available in PDF, EPUB and Kindle. Book excerpt: Americans praise medical technology for saving lives and improving health. Yet, new technology is often cited as a key factor in skyrocketing medical costs. This volume, second in the Medical Innovation at the Crossroads series, examines how economic incentives for innovation are changing and what that means for the future of health care. Up-to-date with a wide variety of examples and case studies, this book explores how payment, patent, and regulatory policiesâ€"as well as the involvement of numerous government agenciesâ€"affect the introduction and use of new pharmaceuticals, medical devices, and surgical procedures. The volume also includes detailed comparisons of policies and patterns of technological innovation in Western Europe and Japan. This fact-filled and practical book will be of interest to economists, policymakers, health administrators, health care practitioners, and the concerned public.

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