The conference transcript, contained in “Innovation in the Medical Technology Industries: Regulation, Competition, Reimbursement, and the Availability of Venture Capital,” is now available.Indianapolis
– The proceedings of Hudson Institute’s June 14 medical device conference, including a presentation from The Honorable Mark McClellan, nominated by President Bush to be FDA Commissioner, are available at www.hudson.org in the publication, “Innovation in the Medical Technology Industries: Regulation, Competition, Reimbursement, and the Availability of Venture Capital” by Irwin M. Stelzer. McClellan’s speech may be viewed at:http://hudson.org/publications/mcclellan.pdf
The report’s principle findings are that America leads the world in medical technology development and manufacturing. These industries have led to significant improvements in both longevity and quality of life. However, both the availability of venture capital for new innovation and utilization of currently available devices may be less than optimal due to both a complicated regulatory environment and third-party governmental and non-governmental payer systems that focus more on short-term costs than on long-term benefits. This issue was explored in detail by noted guests Senator Evan Bayh; Amity Shlaes of the Financial Times
; Peter Neumann, Sc.D., of the Harvard University School of Public Health; David Skanderson, Ph.D., of KPMG Consulting Services; and Irwin. M. Stelzer of Hudson Institute, among others.
Hudson Institute's mission is to be America's premier source of applied research on enduring policy challenges. In Hudson Institute's policy recommendations, articles, books, conferences, and contributions to the electronic media, we share optimism about the future and a willingness to question conventional wisdom. We demonstrate commitment to free markets and individual responsibility, confidence in the power of technology to assist progress, respect for the importance of culture and religion in human affairs, and determination to preserve America's national security.