Invibio investing to accelerate innovation for medical device companies

John Devine, Medical Business Director at Invibio Biomaterial Solutions explains the quandary of innovative medical device makers, “When faced with delivering a consistent quality of healthcare at the lowest cost, the market has yet to create an environment that encourages more ambitious solutions than simply preserving the status quo at a fractionally reduced price.”

Redefining the total cost of care

Defining “best clinical outcomes” while delivering healthcare at the lowest possible cost is challenging, because clinical outcomes are typically obtained through clinical studies, which are expensive and time-consuming. In addition, there could be variations in the level of clinical evidence by region and different types of stakeholders and their needs, which can, for example, depend on where they sit on the curve of the diffusion of innovation. As a consequence, the medical device industry faces a difficult task when seeking to demonstrate that new product innovations are addressing these issues and, ultimately, improving patient care.