Can health economics aid decision making in healthcare innovation in academia?

Lu, Bo; Martin, Jennifer L.; Craven, Michael P.; Morgan, Stephen P.

Abstract

Health economics is extensively used by reimbursement agencies to make decisions on whether to adopt new medical technologies. It is also used by the healthcare industry as an aid to decision making during product development. This paper proposes that academic healthcare technology transfer could also benefit from adopting health economics. The study investigated the knowledge and attitudes of academic staff involved in developing and transferring healthcare technologies. The participants had little or no prior knowledge of health economics; however, the majority reported that this method had the potential to aid development and commercialisation. The innovations developed by the workshop attendees and their commercialisation plans were of a type that could potentially benefit from cost-effectiveness calculations. Health economics has the potential to make valuable contribution to academic healthcare innovation. Research is required to develop this method further and ensure that it can be successfully applied in academia.

Citation

Lu, B., Martin, J. L., Craven, M. P., & Morgan, S. P. (2012). Can health economics aid decision making in healthcare innovation in academia?. International Journal of Technology Transfer and Commercialisation, 11(1/2), https://doi.org/10.1504/IJTTC.2012.043911

• Journal Article Type: Article
• Publication Date: Jan 1, 2012
• Deposit Date: Feb 16, 2016
• Publicly Available Date: Feb 16, 2016
• Journal: International Journal of Technology Transfer and Commercialisation
• Print ISSN: 1470-6075
• Electronic ISSN: 1741-5284
• Publisher: Inderscience
• Peer Reviewed: Peer Reviewed
• Volume: 11
• Issue: 1/2
• DOI: https://doi.org/10.1504/IJTTC.2012.043911
• Keywords: Health Economics; Healthcare technology; Academic innovation; Technology transfer; Cost-effectiveness analysis; Decision making; Stage gate model
• Public URL: https://nottingham-repository.worktribe.com/output/1008868
• Publisher URL: http:/dx.doi.org/10.1504/IJTTC.2012.043911
• Additional Information: Copyright Inderscience 2012