Healthtech Innovation

Today, over 500,000 medical technologies are available in hospitals, homes, and community care settings. They range from simple bandages to complex, multi-part body scanners that cost millions of dollars to develop. Yet a typical technology has a lifecycle of just 21 months before an improved product usurps it—the healthcare ecosystem is rapidly advancing and driven by a constant flow of innovation. And those innovations need innovators. With $21 billion made available for investment in the digital healthcare industry in 2020 (a 20x increase on 2010), entrepreneurs, investors, and related actors are entering the healthcare ecosystem in greater numbers than ever before. Last year alone, over 17,000 medical technology patents were filed, the third highest of all patent types. Each of those has a dedicated team of entrepreneurs behind it. Yet with increasingly strict regulations and pharmaceutical giants growing more aggressive, many thousands of entrepreneurs fail before even the patent stage: just 2% secure revenue or adoption. Healthtech Innovation: How Entrepreneurs Can Define and Build the Value of Their New Products is a down-to-earth survival guide for entrepreneurs struggling to secure a strategic position within the healthtech ecosystem. Which is expected that by 2026, the global digital health market size will be around $657 billion. This book is designed to help innovators navigate this complex and newly volatile landscape. It covers business strategy, marketing, funding acquisition, and operation in a global regulatory context. It is written in simple language, evidenced by the latest academic and industry research, and explained using real-world examples and case studies.

This book aims to study the factors effecting the adoption and diffusion of Health Information Technology (HIT) innovation. It analyses the adoption processes of various tools and applications, particularly Electronic Health Records (EHR), highlighting the impact on various sectors of the healthcare system, such as physicians, administration and patient care, while also identifying the various pitfalls and gaps in the literature. With the various challenges currently facing the United States healthcare system, the study, adoption and diffusion of healthcare technology innovation, particularly HIT, is imperative to achieving national goals. This book is organized into three sections. Section one reviews theories and applications for the diffusion of Health Care Technologies. Section two evaluates EHR technology, including the barriers and enables in adoption and alternative technologies. Finally, section three examines the factors impacting the adoption of EHR systems. This book will be a key source for students, academics, researchers, practitioners, professionals and policy-makers.

The Business of Healthcare Innovation is a wide-ranging analysis of business trends in the manufacturing segment of the healthcare industry. It provides a thorough overview and introduction to the innovative sectors fueling improvements in healthcare: pharmaceuticals, biotechnology, platform technology, medical devices and information technology. For each sector, the book examines the basis and trends in scientific innovation, the business and revenue models pursued to commercialize that innovation, the regulatory constraints within which each sector must operate and the growing issues posed by more activist payers and consumers. Specific topics include market structure and competition, the economics and rationale of product development, pricing, sales and marketing, contract negotiations with buyers, alliances versus mergers, business strategies and prospects for growth. Written by professors of the Wharton School and industry executives, the book shows why healthcare sectors are such an important source of growth in any nation's economy.

This timely book emphasizes the importance of regulation in enabling and channelling innovation at a time when technology is increasingly embedded in healthcare. It considers the adequacy of current regulatory approaches, identifying apparent gaps, risks and liabilities, and discusses how these might be collectively addressed. The authors present possible solutions that balance the protection and promotion of public trust in healthcare against enabling technological progress and disruptive innovation.

Across the world, the demands placed on health systems are growing rapidly. Developed countries face the challenge of providing services to an ageing population with changing health needs, while countries with developing health systems must find ways of ensuring their populations are provided with access to healthcare. Innovative thinking is essential to meet these twin challenges, but innovation is both a cause and cure of many struggles in healthcare — we need it, but it is hard to manage and the introduction of new technology can lead to higher costs. Using real-life examples and case studies from around the world, this book introduces the latest thinking on understanding and managing healthcare innovation more effectively. It does this from the perspective of governments responsible for shaping health policy, healthcare organisations providing services and juggling competing demands, and from the perspective of the industries that supply the new drugs, devices and other technologies. Managing Innovation in Healthcare is the perfect accompaniment for MSc, PhD and MBA students on health policy, management and public health courses, as well as managers, consultants and policy makers involved in healthcare services in both the public and private sector.

Learn how the future of medicine is being unlocked—one digital innovation at a time The Future of Health is an insightful and comprehensive overview of the past, present, and future of digital health. Accomplished health innovation leader Roberto Ascione delivers a practical exploration of how the latest digital technologies are transforming the practice of medicine and redefining health itself by making it more accessible, sustainable, and human. The book includes practical, real-world examples from the United States, Asia, and Europe of technology applications, companies, and start-up that have changed—or will change—our relationship with our health and the healthcare system. Readers will also find: How our health is becoming increasingly consumer and connected while technology is empowering patients in completely new ways and deeply transforming the doctor-patient relationship Discussions of how the training of medical professionals, particularly doctors, has changed—or needs to change—to meet the new digital reality Examinations of how new technologies will allow doctors to dodge many of the administrative and regulatory burdens they currently face each day Treatments of the ability of new technologies to unlock new, holistic ways of practicing medicine, with a focus on latest developments such as Digital Therapeutics and Virtual Reality Reflections on how digital health is fostering a shift “from cure to care” and will unleash a human-sized future for a more accessible, ubiquitous, and sustainable healthcare The Future of Health is required reading for medical practitioners and the managers of pharmaceutical companies. It will also earn a place in the libraries of medical device companies and healthcare entrepreneurs seeking an incisive treatment of the impact of digital technology on all aspects of healthcare. Also, the general public, interested in understanding how to take better control of their own health through digital technologies, will find this book insightful and easy to comprehend.

How do development and use of new technology relate? How can users contribute to innovation? This volume is the first to study these questions by following particular technologies over several product launches in detail. It examines the emergence of inventive ideas about future technology and uses, how these are developed into products and embedded in health care practices, and how the form and impact of these technologies then evolves through several rounds of design and deployment across different types of organizations. Examining these processes through three case studies of health care innovations, these studies reveal a blind spot in extant research on development-use relations. The majority of studies have examined shorter ‘episodes’: moments within particular design projects, implementation processes, usability evaluations, and human-machine interactions. Studies with longer time-frames have resorted to a relatively coarse ‘grain-size’ of analysis and hence lost sight of how the interchange is actually done. As a result there are no social science, information systems, or management texts which comprehensively or adequately address: • how different moments, sites and modes of shaping new technology determine the evolution of new technology; • the detailed mechanisms of learning, interaction, and domination between different actors and technology during these drawn out processes; and • the relationship of technology projects and the professional practices and social imaginations that are associated in technology development, evaluation, and usage. The "biographies of technologies and practices" approach to new technology advanced in this volume offers us urgent new insight to core empirical and theoretical questions about how and where development projects gain their representations of future use and users, how usage is actually designed, how users’ requests and modifications affect designs, and what kind of learning takes place between developers and users in different phases of innovation—all crucial to our understanding and ability to advance new health technology, and innovation more generally.

This book examines healthcare innovation processes, shedding light on the controversies endemic to innovation, which make such processes notoriously challenging. While, in the heat of action, controversies may be seen as barriers to innovation, observations reported in this volume point to controversies also having an energizing role. Students and academics studying innovation, organization, and health management and economics will find this book a valuable read as it provides empirical case studies on innovation processes in practice. Controversies in Healthcare Innovation will also appeal to practitioners of health care management, innovation project managers and policy-makers in the health care sector.