3. Broad context of the value of an innovation
In the next 10 years, payers, providers, patients, and product manufacturers will be familiar customers for biomedical scientists and innovators as health technologies will be further scrutinized in an environment of value-based purchasing and health technology assessment. It is generally understood that the relationship between health care spending and population health is not directly correlated.
In response to value-based purchasing of technology in the next 10 years, biomedical researchers will be well-versed in
a) understanding the clinical desirability, business viability, and technological feasibility needed for successful adoption of new technology,
b) identification of the type of evidence to collect in pivotal clinical studies, and
c) other economic and financial criteria facing individuals, families, employers, medical device companies, pharma, payers, providers, and governments when considering new health technology solutions.