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Top Health Care Economists and Physician-Innovators Discuss Value of Medical Technology at AdvaMed 2007 Conference
Date:10/2/2007

AdvaMed's First-Ever Medical Technology Conference Brings Together Policy and Innovation Experts

WASHINGTON, Oct. 2 /PRNewswire-USNewswire/ -- A panel of leading health care economists and physician-innovators today highlighted the benefits of advanced medical technology for improving patient care and helping to reduce health care costs. The panel session, entitled "Value of Medical Technology: Innovation, Patients, Society," was part of AdvaMed 2007, the premier medical technology conference and exhibition for business leaders, policymakers, investors, news media, patient advocates, and industry stakeholders from around the world.

The distinguished panel featured Uwe Reinhardt, Ph.D., professor of economics and public affairs at Princeton University; Frank Lichtenberg, Ph.D., Courtney C. Brown Professor of Business at Columbia University; Thomas Fogarty, M.D., physician and inventor; and Martin Malawar, M.D., professor of orthopedic surgery at Georgetown University Medical Center and director of orthopedic oncology at Washington Hospital Center. CNN health care correspondent Val Willingham moderated the panel session.

The panel's wide-ranging discussion touched on a number of topics, including the unique process of medical technology innovation, the role of physicians in that process, and how medical technology adds value to the health care system through greater efficiencies and improved patient outcomes.

"Innovations in diagnostic testing provide physicians with better and more timely information about patients' medical conditions," noted Lichtenberg. "This often results in more appropriate and effective treatment, hence improved outcomes and/or lower medical costs."

Dr. Fogarty, one of the pioneers of minimally invasive surgery, stressed how many different players, including physicians and industry, need to come together to make medical advancements possible. "Medical technology innovation depends on the interface of a c
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